Last $39.95 USD
Change Today -0.72 / -1.77%
Volume 210.8K
KAMN On Other Exchanges
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As of 8:04 PM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).

kaman corp (KAMN) Key Developments

Kaman Corporation Reiterates Earnings Guidance for 2014

Kaman Corporation reiterated earnings guidance for 2014. The company expects the consolidated corporation to generate between 3% to 6% organic sales growth. The company has taken down capital expenditure forecast from $30 million to $35 million, which represents between a $5 million and $10 million reduction.

Kaman Corporation Declares Quarterly Dividend, Payable on October 2, 2014

The Kaman Corporation's board of directors declared a regular quarterly dividend of 16 cents per common share. The dividend will be paid on October 2, 2014 to shareholders of record on September 16, 201 4.

Kaman Corporation - Analyst/Investor Day

To discuss company overview, segment presentations and meetings with management

Kaman Corporation Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 27, 2014; Revised Earnings Guidance for 2014

Kaman Corporation announced unaudited consolidated earnings results for the second quarter and six months ended June 27, 2014. For the quarter, the company reported net sales of $459.089 million against $431.725 million a year ago. Operating income was $27.687 million against $31.017 million a year ago. Adjusted EBITDA was $36.544 million against $38.909 million a year ago. Earnings from continuing operations were $16.194 million or $0.59 per diluted share against $17.892 million or $0.67 per diluted share a year ago. Net earnings were $16.573 million or $0.60 per diluted share against $17.892 million or $0.67 per diluted share a year ago. For the six months, the company reported net sales of $873.021 million against $819.800 million a year ago. Operating income was $48.676 million against $44.784 million a year ago. Adjusted EBITDA was $36.544 million against $38.909 million a year ago. Earnings from continuing operations were $27.651 million or $1.00 per diluted share against $25.046 million or $0.93 per diluted share a year ago. Net earnings were $28.030 million or $1.01 per diluted share against $25.046 million or $0.93 per diluted share a year ago. Net cash provided by operating activities was $12.142 million against net cash used in operating activities of $13.407 million a year ago. Expenditures for property, plant & equipment was $18.058 million against $21.267 million a year ago. The company is raising the low end of the sales and operating income range for Distribution from $1,180 million to $1,190 million and 4.7% to 4.8%, respectively. At Aerospace, the company is maintaining its sales expectations for the year; however, the company has lowered the top end of its range for operating income from 17.0% to 16.7%. The reduction in the range is due to a shift in the anticipated product mix for the year. Finally, the company has increased its free cash flow expectations for the year, largely reflecting lower than expected capital expenditures. The company expects interest expense of approximately $13.5 million, corporate expenses of approximately $52 million, estimated annualized tax rate of approximately 35%, depreciation and amortization expense of approximately $38 million, capital expenditures of $30 million to $35 million and free cash flow in the range of $50 million to $55 million.

Kaman Corporation Announces $5.4 Million Joint Programmable Fuze Order

Kaman Corporation announced that its Aerospace segment has been awarded a contract modification in the amount of $5.4 million for the procurement of Joint Programmable Fuzes (JPF). The award is a follow-on order raising the cumulative quantity under Option 11 of Kaman's JPF contract with the U.S. Air Force (USAF) to more than 15,000 fuzes. Delivery of fuzes under Option 11 is anticipated to occur in 2015 and 2016. In addition to the USAF, Kaman provides the JPF to twenty-six other nations. The JPF allows the settings of a weapon to be programmed on wing in flight and is the current bomb fuze of choice of the USAF. The JPF is used with a number of weapons including general purpose bombs, and guided bombs that use JDAM or Paveway kits, on U.S. aircraft such as F-15, F-16, F-22, A-10, B-1, B-2, B-52 and the MQ-9 UAV as well as on international aircraft such as Mirage 3 and Gripen. Kaman produces the JPF at facilities in Orlando, Florida and Middletown, Connecticut.

 

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KAMN

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Valuation KAMN Industry Range
Price/Earnings 18.5x
Price/Sales 0.6x
Price/Book 2.0x
Price/Cash Flow 18.0x
TEV/Sales 0.4x
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