Kaman Corp. Q4 Profit Sinks 42% YOY, Distribution Sales Down 12%

Distribution sales were up overall for 2015, but took a dive in the second half of the year. Distribution organic sales were down nearly 5 percent for the year.

Bloomfield, CT-based Kaman Corp. reported its 2015 fourth quarter and full year financial results on Tuesday, led by Q4 sales and profit decreases in-line with a market-wide industrial recession.

The company posted Q4 sales of $452.3 million, down 5.4 percent from the same period a year earlier, while profit took a 41.8 percent dive to $8.8 million.

Kaman's Distribution segment – Kaman Industrial Technologies – had sales of $265.7 million in Q4, a 12.2 percent year-over-year decrease. Kaman's Aerospace segment had sales of $186.6 million, 6.5 percent gain.

Kaman Industrial Technologies was No. 21 on Industrial Distribution's 2015 Big 50 List.

For the full year 2015, Kaman sales of $1.8 billion were down 1.1 percent from 2014, while profit of $60.4 milion grew 4.4 percent. North American sales were down 3.7 percent.

Kaman Distribution sales were $1.18 billion in 2015, up 1.7 percent from 2014. Organic sales increased 4.9 percent. Aerospace sales of $598 were down 5.6 percent. 

By product category, Kaman's 2015 sales were as follows:

Bearings and Power Transmission - $594.5 million (-5.7 percent)
Automation, Control and Energy - $354.8 million (+17.9 percent)
Fluid Power - $362.9 million (-1.0 percent)
Military and Defense - $362.9 million (-7.3 percent)
Commercial Aerospace and Other - $234.7 million (-2.8 percent)

Kaman said it expects 2016 Distribution sales of $1.13 billion to $1.17 billion, and Aerospace sales of $700 million to $720 million.

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