Posted February 27, 2018

Kaman Industrial sales decline 2.3 percent

Kaman Industrial Technologies reported a 2.3 percent decline in sales for 2017 to $1.081 billion compared to $1.106 billion in 2016.

Sales in the fourth quarter were up 2.2 percent to $263 million compared to $257 million in the same quarter last year.

Operating profit increased 25.4 percent to $52.5 million for the year. Sales per sales day turned positive in November, a trend which has continued into 2018, where year-to-date sales per sales day are up more than 5.0 percent through February.

"Additionally, we have been successful in securing a number of national accounts, the largest of which was signed in the first quarter of 2018. We have begun the process of transitioning these accounts and expect the contribution to our top line performance to increase as we move through the year," said Neal J. Keating, chairman, president and chief executive officer.

"At Distribution, the team is working to drive sales growth across the platforms, while maintaining the improvements we have made in operating profit performance," said Keating.