Kaman misses Street 3Q forecasts

Resource from: Associated Press Likes:162

Nov 07,2014

BLOOMFIELD, Conn. (AP) _ Kaman Corp. (KAMN) on Monday reported earnings of $14.8 million in its third quarter. The Bloomfield, Connecticut-based company said it had profit of 53 cents per share. Earnings, adjusted for non-recurring costs and severance costs, came to 60 cents per share. The results did not meet Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share. The industrial distribution aircraft components company posted revenue of $462.3 million in the period, also falling short of Street forecasts. Analysts expected $472.1 million, according to Zacks. Kaman expects full-year revenue in the range of $1.19 billion to $1.2 billion. Kaman shares have risen 7 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $42.56, a rise of 15 percent in the last 12 months.

(Associated Press)

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