The company said Thursday it will present financial results under engineered products, precision products and structures business segments.
“The new reporting segments will better align our strong brands and product capabilities across our businesses and provide more transparency to our investors,” said Ian Walsh, chairman, president and CEO of Kaman.
The engineered products segment is focused on providing proprietary aircraft components and bearings, springs and contacts and miniature ball bearings to aerospace and defense, medical and industrial markets, while the structures segment will support the aerospace and defense and medical markets by delivering metallic and composite aerostructures for fixed- and rotary-wing aircraft and medical imaging systems.
The precision products segment will also support the defense and aerospace industries by providing precision safe and arming platforms for missile and bomb systems, restoration, modification and related support for several aircraft, including SH-2G Super Seasprite maritime helicopters, manned K-MAX helicopter and KARGO UAV unmanned aerial platform.
Kaman will start using the new structure in reporting its full-year and quarterly financial statements for the year ended Dec. 31, 2021. The annual report is expected to submitted to the Securities and Exchange Commission by Feb. 24.
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