February 28, 2018

Kaman's 4Q net falls amid higher sales

Kaman Corp. posted lower fourth-quarter net income despite higher sales for the Bloomfield manufacturer's aerospace and power-distribution products.

For three months ended Dec. 31, Kaman netted $13.8 million, or 49 cents a diluted share, down 8.8 percent from $15.1 million, or 53 cents a share, netted the same quarter in 2016.

Fourth-quarter sales rose 9.4 percent to $473.9 million vs. $433.1 million a year earlier.

For the full year, Kaman netted $49.8 million, or $1.75 a diluted share, down from $58.9 million, or $2.10 a share, netted in 2016.

For 2018, CEO Neal Keating said the company expects its aerospace sales to rise between 4 percent and 8 percent, paced by its order backlog for programmable bomb fuzes supplied to the U.S. Air Force and American allies.

In distribution, Kaman projects sales to climb between 2 percent and 6 percent.

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