Kaman Corp. (NYSE:KAMN) has reported net sales to USD 175 million from continuing operations in the second quarter 2019, a 5% increase over the first quarter 2019, company said.
Sales declined when compared to the second quarter of 2018, due to unfavorable foreign exchange of USD 1.9 million and the absence of USD 2.5 million of sales from the Aerospace businesses sold in 2018. Highlighting the performance in the quarter was an 8.2% increase in Aerospace operating profit to USD 24.6 million, or 14.1% of sales, when compared to the prior year.
Aerospace businesses saw an 8.2% increase in aerospace operating profit to USD 24.6 million, or 14.1% of sales, when compared to the prior year.
In July, the company received authorization from the US Government to begin deliveries under its USD 324 million JPF DCS contract. Kaman expects to make initial deliveries in September and continues to expect record deliveries of 40,000 to 45,000 fuzes for 2019. Backlog for this program was USD 427 million at the end of the second quarter.
Kaman Corporation conducts business in the aerospace and industrial distribution markets. The Company produces and markets proprietary aircraft bearings and components; super precision, miniature ball bearings; complex metallic and composite aerostructures for commercial, military and general aviation fixed and rotary wing aircraft; safe and arming solutions for missile and bomb systems for the US and allied militaries; subcontract helicopter work; restoration, modification and support of our SH-2G Super Seasprite maritime helicopters; manufacture and support of our K-MAX® manned and unmanned medium-to-heavy lift helicopters.