Kaman Industrial Technologies sales up 7.9%
Kaman Industrial Technologies said its sales increased 7.9% in the first quarter to $257.6 million compared to $238.9 million a year ago.
Acquisitions contributed $14.6 million in sales in the quarter. Sales growth was driven by increases in machinery manufacturing, durable goods, mining, and primary metal manufacturing, offset by declines in sales volume in the food, beverage and paper manufacturing industries.
Segment operating income for the first quarter of 2012 was $12.8 million compared to $12.1 million in the first quarter of 2011. The operating profit margin for the first quarter of 2012 was 5.0%. In comparison, the operating profit margin was 4.8% in the fourth quarter of 2011 and 5.1% in the first quarter of 2011. Operating profit was higher year over year as a result of higher sales volume and increased gross profit, which reached a record level in the quarter. Operating margin for 2012 was impacted by significantly higher pension and employee medical expenses.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
