Kaman beats 2Q profit forecasts

Resource from: Kaman Likes:175

Jul 31,2015

BLOOMFIELD, Conn. (AP) _ Kaman Corp. (KAMN) on Thursday reported second-quarter net income of $21.7 million. On a per-share basis, the Bloomfield, Connecticut-based company said it had net income of 77 cents. Earnings, adjusted for pretax gains, came to 63 cents per share. The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 59 cents per share. The industrial distribution aircraft components company posted revenue of $446.3 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $468.1 million. Kaman shares have fallen slightly since the beginning of the year. In the final minutes of trading on Thursday, shares hit $40.01, a drop of roughly 2 percent in the last 12 months.

(Kaman)

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