Bloomfield aerospace manufacturer Kaman Corp. continues to have technical problems with Air Force bomb fuzes and says a voluntary halt in shipments will cause it to miss its fiscal second-quarter sales and earnings targets.
Kaman Chairman and CEO Neal Keating said reliability issues with the joint programmable fuze are traced to the same component from an outside supplier that caused similar delivery delays in the last six months.
Warplanes rely on the fuzes to arm and detonate their weapons loads.
 “We are working closely with our customer, the Air Force, and our supplier to determine the root cause of this failure and we are committed to continue making additional improvements to further increase reliability,” Keating said in a statement.  Kaman did not identify the supplier.
Kaman said the shipment halt will cut about $25 million from second-quarter revenue. It now projects revenue for the three-month period that ends July 2 to be between $310 million and $320 million and diluted earnings per share to be between 15 cents and 20 cents.
Analysts surveyed by Thomson Reuters project profit of 39 cents per share on revenue of $324 million, The Associated Press reports.
For the full year, Kaman now expects revenue from its aerospace segment of $465 million to $475 million. It had previously expected revenue in line with last year’s $501 million.
