Bloomfield aerospace and industrial-parts distributor Kaman Corp. said third-quarter net income dropped percent 40 percent on a 14 percent drop in sales.
Kaman earned $9.6 million, or 37 cents a share, in the three months ended Sept. 30, down from $13.5 million, or 53 cents, a year ago.
Sales fell to $289.9 million from $335.1 million a year earlier.
Neal J. Keating, chairman, president and CEO, said continued softness in the commercial aerospace market was to blame, but pointed to the company’s diverse product line and the signing of two civilian and military helicopter contracts in the quarter as cushions.
