BLOOMFIELD, Conn. – Kaman Corp. (KAMN) on Monday reported fourth-quarter profit of $15.1 million.
On a per-share basis, the Bloomfield, Connecticut-based company said it had net income of 54 cents. Earnings, adjusted for one-time gains and costs, were 76 cents per share.
The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 72 cents per share.
The industrial distribution aircraft components company posted revenue of $477.9 million in the period, which missed Street forecasts. Analysts expected $486.3 million, according to Zacks.
For the year, the company reported profit of $57.9 million, or $2.08 per share. Revenue was reported as $1.79 billion.
Kaman expects full-year revenue in the range of $1.25 billion to $1.28 billion.
Kaman shares have dropped almost 3 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $39.03, a fall of 1 percent in the last 12 months.
Today’s dividend announcement reflects the Board’s confidence in Kaman’s strategy,” said Robert Starr, Senior Vice President and Chief Financial Officer. “It also reflects the board’s ongoing commitment to create value and return cash to Kaman’s shareholders.”
Kaman Corporation has paid dividends on its common stock for 45 consecutive years.
About Kaman Corporation
Kaman Corporation (NYSE:KAMN), which was founded in 1945 by aviation pioneer Charles H. Kaman is headquartered in Bloomfield, Connecticut, Kaman conducts business in the aerospace and distribution markets. The Company is a leading distributor of industrial parts, and operates more than 250 customer service centers and five distribution centers across the United States and Puerto Rico. Kaman offers more than four million items including bearings, mechanical power transmission, electrical, material handling, motion control, fluid power, automation and MRO supplies to customers in virtually every industry. Kaman also provides engineering, design and support for automation, electrical, linear, hydraulic and pneumatic systems as well as belting and rubber fabrication, customized mechanical services, hose assemblies, repair, fluid analysis and motor management.