Bloomfield aerospace and industrial manufacturer Kaman Corp. grew its third-quarter net sales and net income by 3.2 percent and 28 percent, respectively, but lowered its sales outlook for the full year, it reported.
Net sales for the quarter ended Sept. 27 were $423.7 million, up from $409.6 million during the same quarter of 2012. Profits were $19.2 million, up from $15 million.
The company lowered its 2013 sales outlook in both its aerospace and industrial divisions, due to routine shifts in delivery timing and lower-than-expected growth rates, respectively.
Kaman now expects aerospace sales ranging from $615 million to $620 million, down from previous estimates of between $620 million and $635 million.
Its revised industrial sales outlook is between $1.07 billion and $1.08 billion, down from between $1.1 billion and $1.12 billion.
