Posted August 8, 2018

Kaman Distribution sales rise 3.9 percent

Kaman Industrial Technologies posted sales of $289.5 million for the second quarter, a 3.9 percent improvement from $278.7 million in the same quarter last year.

Operating income of $13.5 million, or 4.7 percent of sales, was down from $15.6 million, or 5.6 percent of sales, in last year's second quarter.

The distribution arm of Kaman Corporation is raising sales expectations for the full year to a range of $1.13 billion to $1.17 billion.

“At Distribution, we have completed a significant portion of our national account onboarding processes, which we expect will lead to stronger sales in the second half of the year. As a result, we are increasing our expectations for organic sales growth for the full year to 5 percent to 8 percent," said Neal J. Keating, chairman, president and chief executive officer of Kaman Corporation.

As a whole, Kaman Corporation reported sales of $468.1 million, a 4.3 percent gain from $449.0 million last year.