Air Platforms

Kaman reports positive Q1 revenues

30 April 2014

Led by a double-digit sales increase in its Aerospace division year-on-year (Y/Y), Kaman posted largely positive financial results for the first quarter of 2014 (Q1 2014) ending 28 March 2014. Consolidated (net) sales increased to USD413.9 million, a 6.7% increase over Q1 2013, and adjusted EBITDA increased 36.4% to USD29.2 million. Top-line growth was reported in both Aerospace and Distribution operations, which accounted for 37% and 63% of 2013 sales, respectively.

In the Aerospace division, the company highlighted the New Zealand Kaman SH-2G(I) contract, Joint Programmable Fuze (JPF) shipment growth, and volume increases within select composite structure programmes as the key drivers of the 13.9% increase Y/Y in Q1 sales to USD149.1 million.

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