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.
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.
