Distributors

Kaman Sales Down 4.9%

BLOOMFIELD, Conn.—Kaman Corp. (NYSE:KAMN) today reported financial results for the third fiscal quarter ended October 2, 2015.

Third-quarter sales were down 4.9 percent from a year ago, at $433.7 million. Profit increased 16.5 percent to $17.2 million.

Distribution net sales for teh quarter were $296.3 million, versus $302.3 million a year ago. Distribution operating profit margin of 4.9% was reported. Year to date, distribution segment sales $911.8 million, an increase of 6.1 percent.

Neal J. Keating, Chairman, President and Chief Executive Officer, said, “Third quarter performance was led by a 20.2% operating margin at Aerospace. At Distribution, we achieved an operating margin of 4.9% for the quarter despite continued weakness in industrial markets which put pressure onour top line for the period. Operating income dollars were flat for the quarter as compared to the third quarter of the prior year on a decline in sales of 5.2%, when measured on a sales-per-sales day basis. This demonstrates our disciplined cost control which mitigated the negative impact of lower sales levels.”

Tagged with

Comment on the story

Your email address will not be published.