Kaman Corp. (KAMN) posted third-quarter net earnings of $9.6 million or $0.37 per share compared with $13.5 million or $0.53 per share in the year-ago period.
Net sales for the quarter decreased to $289.9 million from $335.1 million in the previous year period.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.25 per share on revenues of $287.33 million for the quarter. Analysts' estimates typically exclude special items.
Looking ahead for the full year, the company expects sales decline to be at the high end of our previously stated range of down 10% to 15% from the prior year.
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