Posted November 2, 2011
KIT sales up 7.2%
Kaman Industrial Technologies reported that sales increased 7.2% in the 2011 third quarter to $239.1 million compared to $223.1 million a year ago.
Acquisitions contributed $1.1 million in sales. On a sales per sales day basis, organic sales were up 6.7% over last year's third quarter. Operating income for the third quarter was $11.9 million, a 39.7% increase from $8.5 million in the third quarter of 2010.
The company said sales reflect continued positive market conditions. Market strength was broad based across most geographies, customers and end markets. Operating margin was higher on a year-over-year basis as a result of the higher sales volume, improved productivity resulting from IT investments and our organizational realignment, and continued gross margin improvement.
"We continued to demonstrate strength across the majority of our businesses in the third quarter," said Kaman Corp. chairman, president and chief executive officer Neal J. Keating. "In Industrial Distribution, we have maintained a steady pace of growth and our focus on profitability improvements continues to yield year-over-year gains."
