Kaman Industrial Technologies sales up 10%
Kaman Industrial Technologies reported sales increased 10.1% in the third quarter of 2012 to a record $263.3 million compared to $239.1 million a year ago.
Acquisitions contributed $24.4 million in sales in the quarter. The increase was driven by gains in sales to customers in primary metal and fabricated metals manufacturing, merchant wholesalers and durable goods, and paper manufacturing, offset by declines in the food and beverage industries.
Operating income for the quarter was $13.2 million compared to $12.3 million in the third quarter of 2011. For the full fiscal year, KIT expects sales of $1.04 billion to $1.05 billion.
"We were able to achieve a 5.0% operating profit margin for the third quarter by focusing on cost control initiatives, despite flat organic sales and the September acquisition of the assets of Zeller Corporation, which was dilutive to the operating margin percentage for the period," said Neal J. Keating, chairman, president and chief executive officer of Kaman Corporation.
Kaman Corp. reported 3Q sales of $414.6 million and income of $25.1 million.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
