Posted August 4, 2011
Kaman Industrial Technologies sales up 13.5%
Kaman Industrial Technologies reported sales increased 13.5% in the 2011 second quarter to $239.3 million compared to $210.9 million a year ago.
Acquisitions contributed $10.3 million in sales in the quarter. Operating income for the quarter was $12.3 million, a 58.9% increase from operating income of $7.7 million in the second quarter of 2010.
Sales reflect strong markets conditions and growth from acquisitions made in 2010. Market strength was broad based across most geographies, customers and end markets. The operating margin was higher on both a year-over-year and sequential basis as a result of the higher sales volume, improved gross margin, contributions from acquisitions, and benefits from productivity improvements including an organizational realignment and IT investments, the company said.
"Our Industrial Distribution business is performing well, despite a tough competitive environment and rising costs," said chief financial officer William C. Denninger.
