Five-Year Selected Financial Data

(in thousands except per share amounts, shareholders and employees)

	2011 1	2010 2, 3	2009 2	2008 2, 4	2007 2, 5, 6
OPERATIONS
Net sales from continuing operations	$ 1,498,153	$ 1,318,513	$ 1,146,231	$ 1,253,595	$ 1,086,031
Gain (loss) on sale of product lines and other assets	(270)	447	(4)	221	2,579
Operating income from continuing operations	88,831	58,442	41,597	69,811	70,219
Earnings before income taxes from continuing operations	77,488	55,997	34,665	63,711	63,018
Income tax benefit (expense)	(26,346)	(20,386)	(9,670)	(25,786)	(23,123)
Earnings from continuing operations	51,142	35,611	24,995	37,925	39,895
Earnings from discontinued operations, net of taxes	—	—	—	—	7,890
Gain on disposal of discontinued operations, net of taxes	—	—	—	492	11,538
Net earnings	$ 51,142	$ 35,611	$ 24,995	$ 38,417	$ 59,323
FINANCIAL POSITION
Current assets	$ 600,102	$ 584,953	$ 482,603	$ 486,516	$ 491,629
Current liabilities	218,698	221,845	154,070	179,177	182,631
Working capital	381,404	363,108	328,533	307,339	308,998
Property, plant and equipment, net	111,895	89,719	81,322	79,476	53,645
Total assets	996,398	895,757	773,067	762,613	634,863
Long-term debt, excluding current portion	198,522	140,443	56,800	87,924	11,194
Shareholders' equity	373,071	362,670	312,900	274,271	394,526
PER SHARE AMOUNTS
Basic earnings per share from continuing operations	1.95	1.37	0.97	1.50	1.64
Basic earnings per share from discontinued operations	—	—	—	—	0.32
Basic earnings per share from disposal of discontinued operations	—	—	—	0.02	0.47
Basic net earnings per share	$ 1.95	$ 1.37	$ 0.97	$ 1.52	$ 2.43
Diluted earnings per share from continuing operations	1.93	1.36	0.97	1.49	1.60
Diluted earnings per share from discontinued operations	—	—	—	—	0.31
Diluted earnings per share from disposal of discontinued operations	—	—	—	0.02	0.46
Diluted net earnings per share	$ 1.93	$ 1.36	$ 0.97	$ 1.51	$ 2.37
Dividends declared	0.60	0.56	0.56	0.56	0.53
Shareholders' equity	14.22	13.93	12.14	10.77	15.69
Market price range – High	38.40	30.00	24.86	38.56	39.31
Market price range – Low	25.73	20.97	9.33	16.48	21.38
AVERAGE SHARES OUTSTANDING
Basic	26,246	25,928	25,648	25,357	24,375
Diluted	26,500	26,104	25,779	25,512	25,261
GENERAL STATISTICS
Registered shareholders	3,813	3,879	4,064	4,107	4,186
Employees	4,614	4,269	4,032	4,294	3,618

Included within certain annual results are a variety of unusual or significant items that may affect comparability. The most significant of such items are described below as well as within Management's Discussion and Analysis of Financial Condition and Results of Operations and the Notes to Consolidated Financial Statements.

1. Results for 2011 include $6.2 million in expense recognized in the fourth quarter related to the settlement of the FMU-143 matter and the non-recurring benefit of $2.4 million recognized in the first quarter of 2011, resulting from the death of a former executive.
2. Results for all periods presented reflect the retrospective change in our method of recognizing pension expense. See Note 2, Accounting Changes, of the Notes to Consolidated Financial Statements, included in Item 8, Financial Statements and Supplementary Data, of this Annual Report on Form 10-K, for a discussion of the change and the impacts of the change for the years ended December 31, 2010 and 2009.
3. Results for 2010 include a $6.4 million non-cash non-tax deductible charge for the impairment of goodwill related to U.K. Composites, $2.0 million in additional losses related to the finalization of contract price negotiations on the Sikorsky Canadian MH-92 helicopter program, and $6.6 million of income related to the claim for look-back interest we filed with the Internal Revenue Service in connection with the Australian SH-2G(A) Super Seasprite Helicopter program.
4. Results for 2008 include a $7.8 million non-cash non-tax deductible charge for the impairment of goodwill related to Wichita Composites, $2.5 million related to the write-off of tooling costs at Wichita Composites and $1.6 million of expense related to the cancellation of foreign currency hedge contracts originally assumed in connection with the acquisition of U.K. Composites.
5. The company sold Kaman Music Corporation on December 31, 2007, which resulted in a pre-tax gain on disposal of discontinued operations of $18.1 million, and the Aerospace segment's 40mm product line assets, which resulted in a pre-tax gain of $2.6 million.
6. Results for 2007 include charges for the Australian SH-2G(A) helicopter program of $6.4 million.

< Previous Page      Next Page >