Financials: Financial Statements and Supplementary Data: Consolidated Statements of Operations

KAMAN CORPORATION AND SUBSIDIARIES

(In thousands, except per share amounts)
For the Year Ended December 31,
2011 2010 2009
Net sales $ 1,498,153 $ 1,318,513 $ 1,146,231
Cost of sales 1,079,982 960,706 840,293
Gross profit 418,171 357,807 305,938
Selling, general and administrative expenses 329,070 293,441 264,337
Goodwill impairment 6,371
Net (gain)/loss on sale of assets 270 (447) 4
Operating income 88,831 58,442 41,597
Interest expense, net 11,692 3,487 5,700
Other (income) expense, net (349) (1,042) 1,232
Earnings before income taxes 77,488 55,997 34,665
Income tax expense 26,346 20,386 9,670
Net earnings $ 51,142 $ 35,611 $ 24,995
Net earnings per share:
Basic net earnings per share $ 1.95 $ 1.37 $ 0.97
Diluted net earnings per share $ 1.93 $ 1.36 $ 0.97
Average shares outstanding:
Basic 26,246 25,928 25,648
Diluted 26,500 26,104 25,779
Dividends declared per share $ 0.60 $ 0.56 $ 0.56

See accompanying notes to consolidated financial statements.

     

Part II