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Last $39.47 USD
Change Today -0.54 / -1.35%
Volume 259.2K
KAMN On Other Exchanges
Symbol
Exchange
New York
As of 8:04 PM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).

kaman corp (KAMN) Key Developments

Kaman Corporation Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended July 3, 2015; Revises Earnings Guidance for the Full Year of 2015

Kaman Corporation announced unaudited consolidated earnings results for the second quarter and six months ended July 3, 2015. For the quarter, the company reported net sales of $446,324,000 compared to $453,018,000 a year ago. Operating income was $30,431,000 compared to $28,442,000 a year ago. Earnings from continuing operations before income taxes were $27,210,000 compared to $24,829,000 a year ago. Earnings from continuing operations were $21,691,000 or $0.77 per diluted share compared to $16,709,000 or $0.61 per diluted share a year ago. Net earnings were $21,691,000 or $0.77 per diluted share compared to $16,573,000 or $0.60 per diluted share a year ago. Adjusted EBITDA was $39,644,000 compared to $37,222,000 a year ago. Net cash provided by operating activities was $15,782,000. Expenditures for property, plant & equipment were $6,280,000. Free cash flow was $9,502,000. Adjusted net earnings from continuing operations were $17,714,000 or $0.63 per diluted share compared to $16,709,000 or $0.61 per diluted share a year ago. For the six months, the company reported net sales of $889,106,000 compared to $860,976,000 a year ago. Operating income was $52,761,000 compared to $50,026,000 a year ago. Earnings from continuing operations before income taxes were $46,277,000 compared to $43,202,000 a year ago. Earnings from continuing operations were $34,440,000 or $1.23 per diluted share compared to $28,653,000 or $1.04 per diluted share a year ago. Net earnings were $34,440,000 or $1.23 per diluted share compared to $28,030,000 or $1.01 per diluted share a year ago. Adjusted EBITDA was $71,344,000 compared to $66,942,000 a year ago. Net cash provided by operating activities was $48,489,000 compared to $12,142,000 a year ago. Expenditures for property, plant & equipment were $13,475,000 compared to $18,051,000 a year ago. Free cash flow was $35,014,000. Adjusted net earnings from continuing operations were $30,463,000 or $1.09 per diluted share compared to $28,653,000 or $1.04 per diluted share a year ago. The company revised earnings guidance for the full year of 2015. For the year, the company expects on distribution: sales of $1,200 million to $1,225 million; and operating margins of 4.8% to 5.0%. The company expects on Aerospace: sales of $610 million to $620 million; and operating margins of 18.1% to 18.4%. The company expects interest expense of approximately $13 million, corporate expenses of $53 million to $54 million, estimated annualized tax rate of approximately 31%, depreciation and amortization expense of approximately $40 million, capital expenditures of $30 million to $40 million, free cash flow in the range of $75 million to $90 million and net cash provided by operating activities of $105.0 million to $130.0 million.

Kaman Corp. Wins $23 Million Order for Joint Programmable Fuze

Kaman Corp. announced that its Aerospace segment has been awarded a commercial sale purchase order for the procurement of Joint Programmable Fuzes (JPF) totaling $23 million.

Kaman Corporation to Report Q2, 2015 Results on Jul 30, 2015

Kaman Corporation announced that they will report Q2, 2015 results at 5:00 PM, Eastern Standard Time on Jul 30, 2015

Kaman Corporation, Q2 2015 Earnings Call, Jul 31, 2015

Kaman Corporation, Q2 2015 Earnings Call, Jul 31, 2015

Kaman Corporation Appoints Robert D. Starr as Executive Vice President, Effective July 1, 2015

Kaman Corporation announced that it’s board of directors has appointed chief financial officer Robert D. Starr as executive vice president, effective July 1, 2015. He will continue to serve as the chief financial officer of the company. Starr, who joined the company in 2009, currently serves as senior vice president and chief financial officer and was previously vice president and treasurer. Prior to joining Kaman, Starr was employed by Crane Co. of Stamford, Connecticut, where he served as assistant treasurer. He also previously served as managing director, corporate finance at Aetna Inc. of Hartford, Connecticut and as director, capital markets and risk management at Fisher Scientific International Inc.

 

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Industry Analysis

KAMN

Industry Average

Valuation KAMN Industry Range
Price/Earnings 15.3x
Price/Sales 0.6x
Price/Book 2.0x
Price/Cash Flow 16.7x
TEV/Sales 0.4x
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