Posted November 1, 2018

Kaman Distribution sales up 6.8 percent

Kaman Corporation reported that sales at Kaman Industrial Technologies were $285.9 million for the third quarter, 6.8 percent higher than $267.6 million in the same period last year.

Operating earnings of $14.6 million, or 5.1 percent of sales, compared to earnings of $13.1 million, or 4.9 percent, in last year's third quarter.

"Our distribution business performed very well in the quarter with higher sales and improved margins, while our free cash flow generation continued to be very strong," said Neal J. Keating, Kaman Corp. chairman, president and chief executive officer. "Performance across our three product lines was very strong with fluid power and automation products delivering mid-single digit sales-per-sales day growth in the quarter, and our bearings and power transmission products delivering its fourth consecutive quarter of year-over-year sales-per-sales day growth."