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Kaman Corp., Bloomfield, CT, reported fourth quarter sales of $316.4 million, an increase of 16.2% over fourth quarter 2007. Profit declined 71.8% to $6.8 million. Continued operating issues at the Wichita facility, softening of sales in the Industrial Distribution business, and lower margins in the Specialty Bearings segment on lower volume contributed to the lower earnings.
For the full year 2008, Kaman reported sales of $1.25 billion, an increase of 15.4% over 2007 sales. Profit declined 36.3% to $35.6 million. The increase in sales was comprised of organic growth of 8.4% and growth from acquisitions of 7.0%.
Aerostructure segment sales were $43.9 million in the fourth quarter, compared to $28.1 million in fourth quarter 2007. Sales growth of 56% …
