Posted May 5, 2011
Kaman Industrial Technologies sales leap 33%
Kaman Industrial Technologies said its sales grew 33.3% in the 2011 first quarter, to a record $238.9 million from $179.3 million a year ago.
Acquisitions contributed $37.6 million in sales during the quarter. Operating income for the quarter was $11.7 million, a 143.8% increase from $4.8 million in the first quarter of 2010.
Sales for the first quarter of 2011 reflect growth from acquisitions made in 2010, and a healthier business environment compared to the same period in 2010, the company said. The improved market conditions were broad-based across geographies, customers and end markets. Operating margin was higher year-over-year and on a sequential basis in the first quarter due to the contribution from acquisitions, leverage from higher sales volume, and higher levels of vendor rebates.
Total sales for Kaman Corp. were $377.8 million for the quarter, with operating income of $23.5 million.
