Kaman sales up 13 percent
Kaman Industrial Technologies reported third quarter sales of $308.5 million, a 13 percent improvement from $272.9 million recorded in last year's third quarter.
The increase was the company's highest rate of growth since the second quarter of 2011.
"Organic sales growth trends through mid-September were favorable; however, we experienced significantly weaker sales in late September, reducing our organic growth for the quarter to 1.7%," said
He added that the first phase of an ERP implementation went live during the quarter, causing a larger sales disruption than anticipated. "We remained focused on servicing our customers and deployed additional resources after go-live to support our operations. Despite the impact this had on our results for the quarter, we have gained important experience from this critical phase of the implementation that will improve our future implementation efforts," he said.
The distribution arm of Kaman had operating income of $13.2 million for the quarter, compared to $14.6 million in the same period last year.
"Profit performance was also impacted by the higher expenses associated with our sales force expansion which we believe will provide positive momentum as we enter 2015," Keating said.
As a whole Kaman Corp. had sales of $462.3 million for the quarter, compared to $423.6 million last year. Total earnings were $14.8 million, or 53 cents, per share, compared to earnings of $19.2 million, or 70 cents, in the same period last year.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
