Kaman sales and earnings jump
Kaman Industrial Technologies reported sales of $311.4 million for the first quarter, a 20.3% increase from $258.8 million in the same period last year.
The increase in sales resulted from $30.0 million in sales from acquisitions and an increase of $22.6 million in organic sales. Organic sales benefited from four additional sales days in the quarter and on a same day sales basis were up 2.1%.
The distribution segment of Kaman Corporation had adjusted earnings of $17.1 million for the quarter, which compares to $14.6 million last year.
“We are pleased with our start to 2015. Despite continued challenges with reduced defense spending and a sluggish industrial economy our business delivered diluted earnings per share of 46 cents in the first quarter, a 4.5% increase over the prior year," said Neal J. Keating, chairman, president and chief executive officer.
As a whole, Kaman Corporation had sales of $442.7 million and adjusted earnings of $31.7 million for the quarter.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
