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10/18/06
Kaman
Corporation (KAMN)
In addition to
manufacturing aircraft structures and components and a range of technology
products, Kaman ranks among the top distributors of parts and equipment to
North American industry, and is the largest independent distributor of
musical instruments and accessories.
Website:
www.kaman.com
KAMN
Investor Highlights
- Declared a regular quarterly dividend of 12.5 cents per share on
shares of Kaman common stock. The dividend will be paid on October 23,
2006 to shareholders of record on October 9, 2006.
- Net earnings for the second quarter of
2006 were $7.5 million, or $0.31 per share diluted on the basis of 24.9
million diluted shares outstanding, compared to $2.8 million, or $0.12
per share diluted based on 23.7 million diluted shares outstanding in
the second quarter of 2005.
- Net sales for the second quarter of 2006
were $293.0 million, compared to $271.3 million in the prior year
quarter. The company paid a normal quarterly dividend at the rate of
$0.125 per share.
- For the first six months of 2006 the
company reported net earnings of $13.4 million, or $0.55 per share
diluted, compared to net earnings of $7.5 million, or $0.33 per share
diluted in the first six months of 2005.
- Six-month net sales for 2006 were $589.6
million, compared to $534.6 million in the 2005 period.
Overview
Kaman Corporation distributes industrial products in the United States.
It operates in three segments: Aerospace, Industrial Distribution, and
Music.
The Aerospace segment offers aircraft subassemblies, helicopter
subcontract work, parts for commercial airliners and the C-17 military
transport, products for military and commercial markets, precision
noncontact measuring systems for industrial and scientific use, SH-2G
maritime helicopters, K-MAX aerial truck helicopters, self-lubricating
bearings, driveline couplings for helicopters, and memory systems for
airborne, shipboard, and ground-based programs.
The Industrial Distribution
segment distributes industrial products for bearings, electrical/mechanical
power transmission, fluid power, motion control, and materials handling
markets in the United States, Canada, and Mexico.
The Music segment
distributes musical instruments and accessories. The company was
incorporates in 1945 and is headquartered in Bloomfield, Connecticut.
This is an abbreviated profile and we encourage readers wanting to
learn more about Kaman to visit the company website at
www.kaman.com.
Aerospace
The Aerospace segment consists primarily of
the following subsidiaries: Kaman Aerospace Corporation, Plastic Fabricating
Company, Inc. (PlasticFab), Kaman Dayron, Inc., Kamatics Corporation, and
RWG Frankenjura-Industrie Flugwerklager GmbH (RWG).
For reporting purposes, the segment is
organized into four principal operating units, the Kamatics subsidiary and
three divisions: Aerostructures, Fuzing and Helicopters. A brief description
of each follows.
Aerospace primarily manufactures proprietary
self-lubricating bearings used in aircraft flight controls, turbine engines
and landing gear that are currently used in almost all military and
commercial aircraft in production in North and South America and Europe as
well as driveline couplings for helicopters. These are market-leading
products for applications requiring highly sophisticated engineering and
specialization in the airframe bearing market. Operations are conducted at
the Bloomfield, Connecticut and Dachsbach, Germany (RWG) facilities.
The Aerostructures Division produces aircraft
subassemblies and other parts for commercial airliners and the C-17 military
transport and performs helicopter subcontract work. Operations are conducted
at the Jacksonville, Florida and Wichita, Kansas (Plastic Fabricating
Company) facilities.
The Fuzing Division manufactures products for
military and commercial markets, primarily related to military safe, arm and
fuzing devices for several missile and bomb programs; as well as precision
non-contact measuring systems for industrial and scientific use; and high
reliability memory systems for airborne, shipboard, and ground-based
programs. Operations are conducted at the Middletown, Connecticut and
Orlando, Florida (Dayron) facilities.
The Helicopters Division supports and markets
SH-2G maritime helicopters operating with foreign militaries as well as
K-MAX “aerial truck” helicopters operating with government and
commercial customers in several countries. The division also has other small
manufacturing programs and markets its helicopter engineering expertise on a
subcontract basis. Operations are primarily conducted at the Bloomfield,
Connecticut facility.
Industrial Distribution
Karman Industrial is one of the nation's
larger distributors of power transmission, motion control, material handling
and electrical components, and a wide range of bearings. Products and
value-added services are offered to a customer base of more than 50,000
companies, representing a highly diversified cross-section of U.S. industry.
Kaman's strategy for the Industrial
Distribution segment is to:
- Expand geographic coverage in major
industrial markets that increase Kaman's ability to compete for regional
and national accounts
- Provide industry leadership in e-commerce
initiatives
- Further enhance operating and asset
utilization efficiencies throughout the enterprise
Music
Music is the largest independent distributor
of musical instruments and accessories, offering more than 10,000 products
for amateurs and professionals. Proprietary products include Ovation®
Takamine® and Hamer® guitars, Toca® percussion and Latin Percussion®
instruments, Gibraltar® percussion hardware, and Gretsch® professional
drum sets.
Kaman's strategy for the Music segment is to:
- Preserve Kaman's leadership position as
the largest independent distributor of musical instruments and
accessories
- Build on the company's strong brand
identity, and add new market-leading names to the company's offering of
proprietary products
- Lead the market with distribution systems
and technologies that add value and reduce costs for the customer, the
supplier, and the company
Recent
News and Press Releases
Kaman
Reports 2006 Third Quarter, Nine-Month Results
CVS
Names Richard Swift to Board
Kaman
Board of Directors Declares Dividend
Kaman
Reports 2006 Second Quarter, Six Month Results
Kaman
CEO Buys Stock; Hedge Fund Ups Stake in New Frontier
For the latest Quote and News on
KAMN Click Here.
Three
Month Chart
Outlook
Kaman Corporation, a
small-cap value company in the capital goods sector, is expected to match
the market over the next six months with less than average risk. Source
MSN
Contacts
Kaman Corporation
P.O. Box 1
Bloomfield, CT 06002-0001
Headquarters Location:
1332 Blue Hills Avenue
Bloomfield, Connecticut
Main Phone:
(860) 243-7100
SEC Filings
KAMN filings with the SEC can be found here.
All Fillings are current and the Company is fully reporting.
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Information contained in this report was extracted from current documents
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link of which can be found on our web site. This document contains
forward-looking statements, particularly as related to the business plans of
the Company, within the meaning of Section 27A of the Securities Act of 1933
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the safe harbor created by these sections. Actual results may differ
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