This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Kaman Reports 2013 Fourth Quarter And Full Year Results

Kaman Corp. (NYSE:KAMN) today reported financial results for the fourth quarter and full year ended December 31, 2013.

           
Table 1. Summary of Financial Results
In thousands, except per share amounts For the Three Months Ended
December 31, 2013 December 31, 2012

$ Change

Net sales from continuing operations:
Distribution $ 267,487 $ 248,280 $ 19,207
Aerospace 170,856   151,036   19,820  
Net sales $ 438,343   $ 399,316   $ 39,027  
 
Operating income from continuing operations:
Distribution $ 10,352 $ 11,155 $ (803 )
Aerospace 25,346 22,673 2,673
Net gain (loss) on sale of assets (28 ) (84 ) 56
Corporate expense (11,395 ) (10,503 ) (892 )
Operating income $ 24,275   $ 23,241   $ 1,034  
 
 
Diluted net earnings per share from continuing operations $ 0.48 $ 0.52 $ (0.04 )
Adjustments* 0.07   0.09   (0.02 )
Adjusted diluted net earnings per share* $ 0.55   $ 0.61   $ (0.06 )
 

Neal J. Keating, Chairman, President and Chief Executive Officer, stated, “2013 was a successful year for Kaman as strong performance across a number of our Aerospace programs enabled us to deliver solid operating results. Despite the challenges encountered at Distribution, the segment achieved organic sales growth of 5.2% for the fourth quarter, our first quarter of year-over-year organic sales growth in Distribution since the second quarter of 2012.

1 of 8

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,024.06 +183.54 1.03%
S&P 500 2,108.29 +22.78 1.09%
NASDAQ 5,005.3910 +63.9670 1.29%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs