Kaman Industrial Technologies sales up 8.6%
Kaman Industrial Technologies reported fourth-quarter sales increased 8.6% to $248.3 million compared to $228.6 million a year ago.
Acquisitions contributed $32.6 million in sales in the quarter. On a sales per sales day basis, organic sales were down 6.5% from last year's fourth quarter. Operating income from continuing operations was $11.2 million, a 2.2% increase from $10.9 million in the fourth quarter of 2011.
For the full year, sales were a record $1.01 billion compared to $930.1 million in 2011, an increase of 8.8%. Operating income from continuing operations for the full year was $50.6 million, an increase of 7.8% over $46.9 million in 2011.
"The increase in operating income from continuing operations was a result of operating profit contributed by acquisitions completed in 2012 and 2011, offset by higher employee related costs, including group health insurance and increased expense associated with the implementation of our new ERP system," according to a company statement.
Kaman Corp.'s fourth-quarter sales were $399.3 million. For the full year, Kaman Corp. posted sales of $1.6 billion and net earnings of $53.9 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.
