Kaman Distribution 4Q sales up 6.5 percent
Kaman Distribution had sales of $280 million for the fourth quarter of 2018, a 6.5 percent increase from $263 million in the same period a year ago.
"At Distribution, we continued to see strong organic sales growth, with sales per sales day in the quarter up 6.5 percent over the prior year. This was the highest fourth quarter daily sales rate since 2014 and helped drive our full year sales per sales day growth of 5.0 percent," said Neal J. Keating, chairman, president and chief executive officer of Kaman Corporation.
Operating income of $11.6 million for the quarter compared to $11.2 million in the fourth quarter of 2017.
For the full year, sales of $1.14 billion compared to $1.08 billion in 2017. Operating income of $51.5 million were up from $51.4 million in the previous year.
For 2019, the company expects sales in the range of $1.19 billion to $1.22 billion, an implied growth rate of 6.0 percent. "Top line performance will benefit from our corporate account wins reaching their full-year run rate in 2019, as well as a number of other sales initiatives designed to increase market share," said Keating.
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.
