Kaman has reported a third-quarter net loss of $11.9 million after taking the previously announced $20.1 million charge for eliminating its investment in production contracts with struggling MD Helicopters.
Aerospace results were also hit by $2 million in severance costs for realignment of the segment's management team and $1.6 million in increased costs to complete the loss-making Australian SH-2G(A) naval helicopter programme.
Kaman also saw increased costs for underused facilities because of a lack of new helicopter orders for its Bloomfield, Connecticut plant and lower sales volume at its Jacksonville, Florida aerostuctures plant.
"The Jacksonville facility, which has been operating well below capacity levels, is beginning to see new work coming in," says Kaman chairman Paul Kuhn.
Source: Flight International