Kaman Industrial Technologies sales rise
Kaman Industrial Technologies reported that its 1Q sales increased to $264.8 million from $257.1 million in the first quarter of 2013.
The increase reflects $6.9 million in sales from acquisitions and an increase of $0.8 million in organic sales.
"Distribution results for the quarter were encouraging, as organic sales per sales day increased 1.9%, despite adverse weather conditions in January and February. Excluding restructuring costs incurred in the prior year, operating margin improved more than 120 basis points, driven by operating leverage associated with positive organic growth and costs savings from our 2013 restructuring," said Neal J. Keating, Kaman Corp. chairman, president and chief executive officer.
Operating income was $11.1 million, compared to $4.6 million in the same period last year.
Kaman Corp.'s net sales increased 6.7% to $414 million and operating income was $20.9 million for the quarter.
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