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Kaman’s 2Q profits up on lower costs

Kaman Corp. said its second-quarter profits rose 30 percent, with lower costs overcoming a decline in aerospace sales.

The Bloomfield manufacturer-distributor recorded $21.7 million, or 77 cents per diluted share, in profit for the quarter ended July 3, down from $16.6 million, or 60 cents, in the same quarter of 2014.

Net sales fell 1.5 percent, or $6.7 million, to $446.3 million on lower aerospace revenue, which Kaman attributed to program timing and foreign currency impacts.

But cost of sales fell by more than $10 million, overcoming the top-line decline.

For the full year, Kaman expects combined aerospace and distribution sales to range from $1.81 billion to $1.85 billion.

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