Kaman Distribution sales up 2.5 percent
First-quarter sales of $290.9 million for Kaman Industrial Technologies were up 2.5 percent from $283.9 million in the same period a year ago, according to Kaman Corporation.
Operating income for the distribution segment was $12.7 million for the period, compared to $11.8 million in the 2018 first quarter.
"At Distribution, sales increased 2.5 percent, or 4.1 percent on a sales-per-sales day basis to $4.6 million, our 6th consecutive quarter of sales-per-sales day growth and our highest first quarter daily sales rate since 2015," said Neal J. Keating, chairman, president and chief executive officer of Kaman Corporation.
He attributed the performance to top-line growth across all three product platforms and year-over-year growth in a number of end markets, including paper manufacturing, merchant wholesalers durable goods, primary metal manufacturing, and food processing.
"In addition, during the quarter we increased our backlog 5 percent. Overall this is a strong start to the year and provides us confidence in our 2019 outlook," Keating said.
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.
