Kaman reports fourth quarter results
February 29, 2012 ByCarey Fredericks
Feb. 29, 2012, Bloomfield, Conn. - Kaman Corp. has reported financial results for the fourth quarter and full year ended December 31, 2011.
Neal J. Keating, Chairman, President and Chief Executive Officer, stated, "We delivered great operational performance across the company in 2011 compared to 2010. Our team executed well and demonstrated significant improvement by virtually any measure. Sales reached a record $1.5 billion fueled by both organic growth and the contributions of the twelve acquisitions we have completed over the last four years.
Fourth Quarter 2011 Highlights:
•Diluted earnings per share of $.38 (GAAP), $.53 (Adjusted)
•Net sales $379 million
•Industrial Distribution operating margin: 4.8%
•Aerospace operating margin: 12.0% (GAAP), 16.3% (Adjusted)
Full Year 2011 Highlights:
•Diluted earnings per share of $1.93 (GAAP); $2.01 (Adjusted), a record
•EPS growth: +42% (GAAP), +36% (Adjusted)
•Record net sales of $1.5 billion
•Industrial Distribution operating income up 59.1% on a 14.3% sales increase
•Aerospace operating income up $13.3 million or 19.8%