Kaman Corp. (NYSE:KAMN) has reported financial results for the second fiscal quarter ended June 30, 2017, the company said.
Neal J. Keating, Chairman, President and Chief Executive Officer, said, “We are pleased with our results for the second quarter, as we continue to execute on our operational improvement initiatives and leverage incremental sales volume across both segments. As expected, we achieved significant sequential improvement in sales and earnings, which we expect to continue as we progress through the remainder of the year.
“At Distribution, operating margins for the second quarter were 5.7%, a 90 basis point improvement over the prior year and a 140 basis point improvement over the first quarter of 2017. As we have highlighted in recent quarters, we have taken steps to significantly strengthen Distribution´s ability to drive improved performance. The success of these actions is reflected in the results for second quarter.”
Kaman Corporation, founded in 1945 by aviation pioneer Charles H. Kaman, and headquartered in Bloomfield, Connecticut 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-MAXÂ® manned and unmanned medium-to-heavy lift helicopters; and engineering design, analysis and certification services.