UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): September 18, 2014



Kaman Corporation
(Exact Name of Registrant as Specified in Its Charter)


Connecticut
(State or Other Jurisdiction of Incorporation)

001-35419
  
06-0613548
(Commission File Number)
  
(IRS Employer Identification No.)
     
1332 Blue Hills Avenue, Bloomfield, Connecticut
  
06002
(Address of Principal Executive Offices)
  
(Zip Code)

(860) 243-7100
(Registrant's Telephone Number, Including Area Code)

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))



 
1
 

Item 7.01         Regulation FD Disclosure.

As previously announced, Kaman Corporation (the “Company”) will host its 2014 Investor Day conference for members of the investment community on Thursday, September 18, 2014, in New York City.  Investors, analysts and the general public are invited to listen to a live webcast of the presentations, followed by a question and answer session, and to access the slides for the presentations over the Internet via the Company’s Investor Relations website at www.kaman.com/investor-relations.  The slides for the presentations are also furnished as Exhibits 99.1 to 99.13 to this report and are hereby incorporated herein by reference.  The presentations are expected to begin at approximately 10:00 a.m. EDT and conclude at approximately 3:30 p.m. EDT.

At the conference, members of the Company’s management will discuss, among other things, the Company's strategy, performance and outlook, including business trends and specific initiatives.  Management will also reaffirm the Company’s 2014 full-year financial outlook, which was previously announced on August 4, 2014.

The information contained in this Current Report on Form 8-K is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities  Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section.  The information contained in this Current Report on Form 8-K shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as shall be expressly set forth by specific reference in any such filing.

Forward-Looking Statements

This Current Report on Form 8-K and the presentations furnished as exhibits hereto contain forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act.  Forward-looking statements in this report consist of, among other things, statements regarding the Company’s 2014 full-year financial outlook and the Company’s long-term financial goals, all of which are based on current expectations, estimates, and forecasts, and the current beliefs and assumptions of the Company’s management.  Words such as “goals,” “expects,” “plans,” “intends,” “anticipates,” “aims,” “projects,” “likely,” “will,” “should,” “believes,” “estimates,” “seeks,” variations of such words, and similar expressions are intended to identify such forward-looking statements.  These forward-looking statements are subject to risks, uncertainties and assumptions that are difficult to predict.  Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements.  Factors that could cause actual results to differ materially from the Company’s expectations expressed in this report include the risks and uncertainties summarized in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2013, copies of which are available free of charge at the SEC’s website at www.sec.gov or upon request from the Company’s investor relations department.  Given these risks and uncertainties, investors should not place undue reliance on any forward-looking statements.  Also, forward-looking statements represent the Company’s beliefs and assumptions only as of the date of this report.  Except as required by law, the Company does not intend, and undertakes no obligation, to revise or update these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

Non-GAAP Financial Measures

The presentation materials furnished with this Current Report on Form 8-K include financial information that has not been prepared in accordance with GAAP.  The Company uses these non-GAAP financial measures internally in analyzing its financial results and believes they may be useful to investors, as a supplement to GAAP measures, in evaluating the Company’s ongoing operational performance.  These non-GAAP financial measures may not be completely comparable to similarly titled measures of other companies due to potential differences in the exact method of calculation between companies.  The non-GAAP financial measures discussed above exclude certain items of revenue and expense because they are not directly related to the Company’s performance in any particular period.  The Company believes that these non-GAAP financial measures reflect the Company’s ongoing business in a manner that allows for meaningful period-to-period comparison and analysis of trends in the Company’s business.  Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP.  The presentation materials filed as Exhibit 99.12 to this report include reconciliations to the Company’s GAAP results and are hereby incorporated herein by reference.
 
 
2
 
 
Item 9.01        Financial Statements and Exhibits

(d)        Exhibits

The following documents are furnished as Exhibits pursuant to Item 7.01 hereof:

Exhibit 99.1 – Introduction
Exhibit 99.2 – Strategic Overview
Exhibit 99.3 – Aerospace
Exhibit 99.4 – Distribution
Exhibit 99.5 – Financial Overview
Exhibit 99.6 – Aerospace – Aerosystems
Exhibit 99.7 – Aerospace – Specialty Bearings
Exhibit 99.8 – Aerospace – Fuzing and Precision Products
Exhibit 99.9 – Distribution – Platform Product Solutions
Exhibit 99.10 – Distribution – Value Added Services
Exhibit 99.11 – Wrap-Up
Exhibit 99.12 – Appendix I Non-GAAP Reconciliations
Exhibit 99.13 – Appendix II Presenters




 
 




 
3
 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


 
KAMAN CORPORATION
     
     
     
 
By:
/s/ Shawn G. Lisle
   
Shawn G. Lisle
   
Senior Vice President, General Counsel
   
and Assistant Secretary

Date: September 18, 2014


 
4
 

KAMAN CORPORATION AND SUBSIDIARIES

Index to Exhibits


Exhibit
Description
  
     
Exhibit 99.1
Introduction
Attached
     
Exhibit 99.2
Strategic Overview
Attached
     
Exhibit 99.3
Aerospace
Attached
     
Exhibit 99.4
Distribution
Attached
     
Exhibit 99.5
Financial Overview
Attached
     
Exhibit 99.6
Aerospace – Aerosystems
Attached
     
Exhibit 99.7
Aerospace – Specialty Bearings
Attached
     
Exhibit 99.8
Aerospace – Fuzing and Precision Products
Attached
     
Exhibit 99.9
Distribution – Platform Product Solutions
Attached
     
Exhibit 99.10
Distribution – Value Added Services
Attached
     
Exhibit 99.11
Wrap-Up
Attached
     
Exhibit 99.12
Appendix I Non-GAAP Reconciliations
Attached
     
Exhibit 99.13
Appendix II Presenters
Attached
     


 
5
 

ex99-1.htm  
1
Investor Day
September 18, 2014
 
 
 
2
Index
Tab #
Description
Introduction
 
1.
Strategic Overview
2.
Aerospace Review
3.
Distribution Review
4.
Financial Overview
5.
Aerospace - Aerosystems
6.
Aerospace - Specialty Bearings
7.
Aerospace - Fuzing and Precision Products
8.
Distribution - Platform Product Solutions
9.
Distribution - Platform Value Added Solutions
10.
Wrap-up
11.
Appendix I - Non-GAAP Reconciliations
12.
Appendix II - Presenters
 
 
 
3
Forward Looking Statements
This presentation contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform
Act of 1995. Forward-looking statements also may be included in other publicly available documents issued by the company and in oral statements
made by our officers and representatives from time to time. These forward-looking statements are intended to provide management's current
expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by
the use of words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may,"
"should," "would," "could," "will" and other words of similar meaning in connection with a discussion of future operating or financial performance.
Examples of forward looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of
cash and other measures of financial performance.
Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause the
company's actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks,
uncertainties and other factors include, among others: (i) changes in domestic and foreign economic and competitive conditions in markets served by
the company, particularly the defense, commercial aviation and industrial production markets; (ii) changes in government and customer priorities and
requirements (including cost-cutting initiatives, government and customer shut-downs, the potential deferral of awards, terminations or reductions of
expenditures to respond to the priorities of Congress and the Administration, or budgetary cuts resulting from Congressional actions or automatic
sequestration); (iii) changes in geopolitical conditions in countries where the company does or intends to do business; (iv) the successful conclusion of
competitions for government programs and thereafter contract negotiations with government authorities, both foreign and domestic; (v) the existence of
standard government contract provisions permitting renegotiation of terms and termination for the convenience of the government; (vi) the conclusion to
government inquiries or investigations regarding government programs, including the resolution of the Wichita subpoena matter; (vii) risks and
uncertainties associated with the successful implementation and ramp up of significant new programs; (viii) potential difficulties associated with variable
acceptance test results, given sensitive production materials and extreme test parameters; (ix) the receipt and successful execution of production orders
for the JPF U.S. government contract, including the exercise of all contract options and receipt of orders from allied militaries, as all have been assumed
in connection with goodwill impairment evaluations; (x) the continued support of the existing K-MAX® helicopter fleet, including sale of existing K-MAX®
spare parts inventory; (xi) the accuracy of current cost estimates associated with environmental remediation activities; (xii) the profitable integration of
acquired businesses into the company's operations; (xiii) the ability to implement our ERP systems in a cost-effective and efficient manner, limiting
disruption to our business, and to capture their planned benefits while maintaining an adequate internal control environment; (xiv) changes in supplier
sales or vendor incentive policies; (xv) the effects of price increases or decreases; (xvi) the effects of pension regulations, pension plan assumptions,
pension plan asset performance and future contributions; (xvii) future levels of indebtedness and capital expenditures; (xviii) the continued availability of
raw materials and other commodities in adequate supplies and the effect of increased costs for such items; (xix) the effects of currency exchange rates
and foreign competition on future operations; (xx) changes in laws and regulations, taxes, interest rates, inflation rates and general business conditions;
(xxi) future repurchases and/or issuances of common stock; and (xxii) other risks and uncertainties set forth herein and in our 2013 Form 10-K.
Any forward-looking information provided in this presentation should be considered with these factors in mind. We assume no obligation to update any
forward-looking statements contained in this presentation.
 
 
 
4
Non-GAAP and Key Figures 
Certain measures presented in this presentation are “Non-GAAP”
items. These figures are denoted with an asterisk (*).
Reconciliations from GAAP measures to the Non-GAAP measures are
presented in Appendix I to this presentation and our recent earnings
releases filed with the U.S. Securities and Exchange Commission.
Figures in this presentation marked with a “(p)” are projected ranges
based on the Company’s most recent 2014 full year outlook
Amounts in the presentation marked “TTM” are trailing twelve months
actual results as of 6/27/2014
 
 
 
5
Presenter(s)
Topic
Start
End
Eric Remington
Welcome / Introductions
10:00
10:05
Neal Keating
Kaman Strategic Overview
10:05
10:30
Greg Steiner
Aerospace Review
10:30
10:55
 
Break
10:55
11:05
Steve Smidler
Distribution Review
11:05
11:30
Robert Starr
Financial Overview
11:30
11:55
 
Lunch
11:55
12:45
Business Leaders
Breakout Sessions
12:45
2:25
 
Break
2:25
2:35
Neal Keating
Wrap-up and Q&A Session
2:35
3:15
Investor Day Agenda
 
 
 
6
Breakout Sessions
Track #
12:45 to 1:05
1:05 to 1:25
1:25 to 1:45
1:45 to 2:05
2:05 to 2:25
1
Aerosystems
Distribution -
Platform Value
Added Services
Distribution -
Platform Product
Solutions
Precision
Products
Specialty
Bearings
2
Specialty
Bearings
Aerosystems
Distribution -
Platform Value
Added Services
Distribution -
Platform Product
Solutions
Precision
Products
3
Precision
Products
Specialty
Bearings
Aerosystems
Distribution -
Platform Value
Added Services
Distribution -
Platform Product
Solutions
4
Distribution -
Platform Product
Solutions
Precision
Products
Specialty
Bearings
Aerosystems
Distribution -
Platform Value
Added Services
5
Distribution -
Platform Value
Added Services
Distribution -
Platform Product
Solutions
Precision
Products
Specialty
Bearings
Aerosystems
 
 
 
 
7
Follow-up questions
Contact:
Eric Remington
Vice President, Investor Relations
(860) 243-6334
Eric.Remington@kaman.com
 
 
 
ex99-2.htm
1
Strategic Overview
Neal Keating
 
 
 
2
Charlie’s legacy lives on at Kaman Corporation
where our more than 5,000 employees are
inspired by his ingenuity, integrity and humanity.
Charles Kaman - Spirit of Innovation
“Today’s products and services
are sophisticated, complex and
involved far beyond the most
visionary expectations I ever had
as our first product, the K-125
helicopter, first flew in January
1947. But what we built then and
what we do now both represent
the very highest degrees of
excellence, innovation, quality
and technical sophistication of
their times. I firmly believe that
our accomplishments will
continue indefinitely.”

- Charles Kaman
 
 
 
3
Kaman Milestones
Entry into fuzing business via acquisition
Recapitalization eliminated dual class structure
Unmanned K-MAX® deployed to Afghanistan
First turbine helicopter
KAron® machineable liner introduced
$1 Billion
$2 Billion
RWG Germany acquired
Divestiture of Music segment
 
 
 
4
What is Kaman?
Solving Our Customers’ Critical Problems with Technically
Differentiated Products & Services
Leading Provider of Highly Engineered Aerospace &
Industrial Products Serving a Broad Range of End Markets
 
 
 
5
ü Outstanding portfolio
 of intellectual property
 across Aerospace
ü Distribution aligned
 with best-in-class,
 vendors
ü ERP investments will
 yield improved
 efficiencies & financial
 performance
Strategically
Positioned
Kaman Investment Highlights
Improving
Financials
Reliable Business
Strategies
ü Focused on driving
 strong top-line
 growth
ü Deliver earnings
 growth through
 scale and operating
 efficiencies
ü Generate strong
 cash flow to grow
 the business
ü Disciplined acquisition
 growth to achieve scale
 and margin enhancements
ü Continuing focus on
 innovation to maintain
 differentiation
ü Relentless effort to drive
 operational excellence and
 lean
 
 
 
6
Distribution
Kaman Corporation Overview
Distribution
Aerospace
$1.7B Revenues
Aerospace
Based on 2013 Actual Results
 
 
 
7
Aerospace Overview
v
AEROSYSTEMS
SPECIALTY BEARINGS &
ENGINEERED PRODUCTS
FUZING & PRECISION
PRODUCTS
 
 
 
 
• Engineering design and testing
• Tooling design & manufacture
• Advanced machining and composite
 aerostructure manufacturing
•  Complex assembly
• Helicopter MRO and support
• Self-lube airframe bearings
• Traditional airframe bearings
• Flexible drive systems
 
• Bomb and missile safe and
 arm fuzing devices
• Precision measuring systems
•  Memory products
 
 
• Global commercial and defense OEM’s
• Super Tier I’s to subcontract manufacturers
• Aircraft operators and MRO
• Specialized aerospace distributors
• U.S. and allied militaries
• Weapon system OEMs
 
• “One Kaman” combines design and build capabilities to provide
 customers with a global integrated solution
• Bearing product lines strong commercial customer base expected to
 provide growth from new program wins and higher build rates
• Exclusivity and significant
 backlog provide a stable
 revenue base
 
Business
Dynamic
Customer
Product
 
 
 
8
Distribution Overview
PRODUCT
PLATFORM
BEARINGS &
MECHANICAL POWER
TRANSMISSION (BPT)
FLUID POWER
AUTOMATION, CONTROL &
ENERGY (ACE)
% of 2013
Sales
61%
14%
25%
Market Size
$13 Billion
$7 Billion
$15 Billion
Acquisitions
since 2008
 
• Industrial Supply Corp
• Allied Bearings Supply
• Plains Bearing
• Fawick de Mexico
• Florida Bearings Inc.
• Ohio Gear and Transmission
 
• INRUMEC
• Catching
• Northwest Hose & Fittings
• Western Fluid Components
• B. W. Rogers
 
• Zeller
• Minarik
• Target Electronic Supply
• B. W. Rogers
 
Major
Suppliers
 
 
 
 
 
 
9
Market Opportunities
Secular trends helping to drive significant long-term growth
opportunities in both Aerospace and Distribution segments
 AEROSPACE
 • OEM/Tier 1 outsourcing and supplier
 consolidation
 • Higher bearing content on new platforms
 • Increasing commercial build rates driving
 bearing and aerostructure sales
 • New programs provide offset to lower
 defense spending
 DISTRIBUTION
 • Supplier consolidation favors larger national
 service providers
 • Increased need for value added services
 • Large fragmented market provides
 consolidation opportunities
 • Factory automation trends driving fluid
 power and high speed automation solutions
 
 
 
10
Strategic Themes
• Optimize Business Portfolio to Drive Shareholder Value
• Expand Scale & Market Leading Positions Through Acquisitions
 & Organic Growth Initiatives
• Continue Technical and Service Differentiation Strategy in both Segments
• Drive Operational Excellence and Lean Through the Organization
• Target 3%-6% Organic Revenue Growth through 2019 ; 3%-10% Revenue
 Growth with Acquisitions
 
 
 
11
Aerospace Strategic Positioning
ACTIONS TAKEN
• Significant investments in
 product R&D, new facilities
 and ERP systems
• Creation of integrated
 Aerosystems unit
• Secured key positions on
 commercial and defense
 platforms
• Unmanned K-MAX
 deployment to Afghanistan
STRATEGIC GOALS
• Improve balance between
 commercial and defense
• Leverage broad capability set
 to expand market positions
• Execute strategic acquisitions
• Generate 3%-6% organic
 growth
• Deliver high-teens operating
 margins
 
 
 
12
Distribution Strategic Positioning
ACTIONS TAKEN
STRATEGIC GOALS
• Built out three product platform
 organization
 q Expands served market
 q Targets higher margin and
 higher growth markets
 q Enables increased scale to
 drive operating leverage
• Parker alignment provides
 unique market position
• ERP rollout will drive significant
 operational efficiencies
• Accelerate growth in higher
 margin product platforms
• Increase scale to drive operating
 efficiencies
• Leverage differentiated product
 offerings to increase market share
• Execute strategic acquisitions
• Generate 3%-6% organic growth
• Deliver 7+% operating margins
 
 
 
13
Shareholder Value Drivers
Leadership
Organic
Growth
Operational
Excellence
Acquisition
Execution
 
 
 
14
Leadership
• Experienced Senior Management Team
• High performance culture
• Organization Development
– Program management
– Supply chain management
– Annual Kaman Leadership
 Development Program (KLDP)
– Technical sales and engineering
 
 
 
15
Organic Growth Drivers
Aerospace
Distribution
• “One Kaman Approach”
• New product development efforts
 at Specialty Bearings and
 Precision Products
• Continued commercial aerospace
 cycle growth
• JPF Navy Opportunity
• Expanded geographic footprint
• Supplier consolidation
• Factory automation trends
• Differentiated product and
 services
• Product platform cross-selling
• National account opportunities
• Sales force expansion
 
 
 
16
Operational Excellence
KEY INITIATIVES
•  Significant ERP investments
   at both Segments
•  New state-of-the-art facilities in
   the UK and Germany
•  Low Cost Country operations
   provide margin expansion
   opportunities
•  Increasing use of automation
   and robotics are favorably
   impacting quality, throughput and
   labor costs
 
 
 
17
Acquisition Strategy Framework
 
 
 
18
Historical Adjusted EBITDA*
PERIOD CAGR = 8%
 
 
 
19
Historical Total Shareholder Return Since 2005 Recap
Source: Bloomberg 11/4/2005 - 6/30/2014
KAMAN RETURN = 138%
RUSSELL 2000 = 103%
 
 
 
20
ü Proven strategies have delivered strong shareholder value over time
ü Aerospace
 - Leveraging unique set of proprietary products and capabilities
 - Strong platform positions across commercial & defense markets
 - Robust pipeline of future opportunities
ü Distribution
 - Three product platform strategy expands growth opportunities
 - Increased scale provides improved operating leverage
 - ERP implementation benefits
ü Successfully execute future acquisitions - maintain discipline
ü Leverage experienced management and workforce across the
 company
Positioned for Future Growth
 
 
 
ex99-3.htm
1
37%
Aerospace
Greg Steiner
 
 
 
2
Aerospace Snapshot
• Self-lube airframe
 bearings
• Traditional airframe
 bearings
• Flexible drive systems
• Engineered design and
 testing
• Tooling and design &
 manufacture
• Advanced machining
• Composite aerostructure
 manufacturing
• Complex assembly
• Helicopter MRO and
 support
• Bomb and missile safe
 and arm fuzing devices
• High precision measuring
 systems
• Memory products
Aerosystems
Jim Larwood
Kaman Aerospace Group
Fuzing and Precision
Products
Jerry Ricketts
Specialty Bearings and
Engineered Products
Rob Paterson
 
 
 
3
Aerospace Profile
FY2013 Sales by
FY2014(p) Net Sales    $640M - $660M
FY2014(p) OI% Range   16.5% - 16.7%
Financial Summary
Technology Profile
 
 
 
4
Aerospace Financial Performance
Revenue Growth
Adj. EBITDA * Growth
$ in millions
 
 
 
5
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
Aircraft Programs/Capabilities
1. Doors
2. Nose landing gear
3. Engine/thrust reverser
4. Flight controls
5. Flaps
6. Main landing gear
7. Rudder
8. Horizontal stabilizer
Bearing Products
Other Products
9. Door assemblies
10. Top covers
11. Fixed leading edge
12. Fixed trailing edge
13. Winglets
14. Wing structures, flaps, slats
15. Access doors
16. Nacelle components
 
 
 
6
1
4
1
2
3
5
6
6
6
7
Aircraft Programs/Capabilities
1. Flexible drive systems
2. Flight control bearings
3. Landing gear bearings
Bearing Products
Other Products
4. Manufacture and assembly of tail
 rotor pylon
5. Blade manufacture, repair and
 overhaul
6. Manufacture and subassembly
 of cabins and structures
7. Manufacture of cockpit
 
 
 
7
Environment - Overall Aircraft Production
Source : Forecast International
Growth in Commercial Airliners
Stability in Key Defense Programs
 
 
 
8
1 Part
1 Supplier
4,400 Parts
100+ Suppliers
Environment - Supplier Consolidation
AH-1Z Cabin
 
 
 
9
Cost Pressures
•  Requiring 15% price reductions
   over 5 yrs.
•  Companies not complying are put
   on a “no fly list” - barred from bidding
   on new business
 
 
 
10
Aerospace Strategy
 
 
 
11
Driving Operational Efficiencies
• Commitment to lean manufacturing, continuous improvement,
 automation, and operational excellence
• Extensive program management training and certification to manage
 costs and drive efficiencies
• Offering lower cost alternatives for customers
 – Mexico, India JV
• Common Aerosystems ERP system is a key enabler of
 consolidation and long-term cost reduction
 – Back office
 – Supply chain
 – Management structure
 
 
 
12
Market Leading Self-Lube Airframe Bearing Product Lines
Proprietary
Technology
Material Science
Capability
Operational
Excellence
KAron® • KAflex® • Tufflex®
• New Technologies
• New Products
• Customization
• Customer Intimacy
• Work Force
• Lean
• Automation
World Class Performance
 
 
 
13
Solid Positions on the Largest Commercial Platforms
737
777
787
A380
A350
A320
 
 
 
14
Increasing Penetration on New Platforms in Specialty Bearings
Airbus A400M
Boeing 787
Virginia Class
Airbus A350
Agusta Westland 169
Gulfstream G650
 
 
 
15
Fuzing Products
HARPOON
MAVERICK
AMRAAM
FMU-139
TOMAHAWK
JPF
STANDARD
MISSILE
SLAM-ER
SLAM-ER
AMRAAM
TOMAHAWK
STANDARD
MISSILE
AGM-65M
AMRAAM
On a Majority of U.S. Weapon Systems
 
 
 
16
 • U.S. Air Force (USAF) bomb fuze of choice
 • USAF inventory levels well below desired
 quantity, foreign orders and U.S. Navy
 provide additional opportunities
 • USAF contract extends sole source position
 into 2017
 • Backlog of over $100 million
 • 27 foreign customers
 • System reliability exceeds 98% and field
 reliability is greater than 99%
Bomb Compatibility
- JDAM
- Paveway II and III
- GBU-10, 12, 16, 24, 27, 28, 31, 32,
 38, 54
- BLU-109, 110, 111, 113, 117, 121,
 122, 126
- MK82/BSU-49, MK83/BSU-85,
 MK84/BSU-50
JPF Program
 
 
 
17
JPF Lot Acceptance Test Reliability
Value Engineering and Operational Excellence
Continually Improving Performance
 
 
 
18
JPF Field Reliability
Outstanding Operational Reliability
 
 
 
19
Aerosystems
Composite
Structures
Air Vehicles
& MRO
Structures &
Assembly
Engineering
Services
ü  Structures design
ü  Composite mfg
ü  Machining
ü  Forming
ü  Details mfg
ü  Assembly
ü  Tooling - mold and assembly
ü  Low cost manufacturing
ü  Certification support
ü  MRO/aftermarket support
Mold, Assembly
Tooling
Synergies through common ERP
“One Stop Shopping”
 
 
 
20
Aerosystems
A330 Composite Wing Panels
H-60 Integrated Cockpits
AH-1Z Cabin Manufacturing and Assembly
Unmanned K-MAX®
A-10 Flight Control Surfaces
G280 Aileron and Winglet
 
 
 
21
“One Kaman” and Business Development
• Unified approach to business development representing the
 complete Kaman suite of products and services
• Regional sales directors are the cornerstone
 – Senior, seasoned sales executives with broad contacts and
 industry knowledge
 – Geographically located near major customers
 – Increases customer intimacy for an earlier, more proactive
 approach to new opportunities
• Transforms us to “influencing” from “reactive”
 
 
 
22
Driving Growth Through New Programs
747-8 wing-to-body
fairing
G280 winglet
A350 airframe
bearings
AH-1Z cabin
G7000/G8000 fixed
leading edge
Learjet 85
composite door
P-8 composite
operator stations
 
 
 
23
Opportunities
Navy Programmable Fuze
Commercial K-MAX®
Unmanned K-MAX®
SH-2 Opportunities
Measuring
Structures Programs
Scorpion
 
 
 
24
Summary
• Market conditions and competitive positions should enable mid to
 high single digit commercial growth rates
• Defense is program dependent and opportunities remain
• Targeting 3%-6% annual sales growth over the next five years
• We expect to be able to maintain high-teen margins
 – Growing commercial mix
 – Higher value added content
 – Continuous improvement culture
 – ERP cost synergies
 
 
 
ex99-4.htm
Distribution
Steve Smidler
 
 
 
Kaman Distribution Management Structure
Bearings & Power
Transmission
Thomas Weihsmann
Fluid Power
Tribby Warfield
Automation, Control &
Energy
Gary Haseley
Kaman Distribution Group
Steve Smidler
190 Locations
• Kaman Industrial Technologies
• Florida Bearings
• Ohio Gear & Transmission
• Delamac - Mexico
40 Locations
• B. W. Rogers
• Catching Fluidpower
• Inrumec - Puerto Rico
• Northwest Hose & Fittings
• Western Fluid Components
27 Locations
• Minarik Automation & Control
• Target Electronics
• Zeller
2
 
 
 
Kaman Distribution Segment
• FY2014(p) Net Sales $1,190M - $1,220M
• FY2014(p) OI% range 4.8% - 5.2%
• # of Customers  65,000
• SKUs in Catalog  4+ million
Business Overview
Served Market Size = $35B
Source: PTDA Market Size Report; US Census Bureau; ARC Advisory
3
 
 
 
Improving Financial Performance
Revenue Growth
Adjusted EBITDA* Growth
Acquisitions, margin improvement program have delivered
improved financial results
4
(Dollars in thousands)
 
 
 
Business Profile
• Three product platforms provide our customer base unique, comprehensive solutions
• Only national motion control, automation distributor/service provider
• Technically differentiated, value-added service provider
• Positioned in key markets with strong growth potential
• Aggressively expanding geographic footprint and product lines
Uniquely positioned for profitable growth
5
 
 
 
Why Three Product Platforms?
Time
mechanical
hydraulic
electrical
Higher Growth | Higher Margins | Higher Technical Content | Robust Acquisition Pipeline
& PT
Fluid
Power
Automation &
Control
Size of Kaman’s accessible market over time
$35 Billion Market
6
 
 
 
Comprehensive Solutions for Plant Management
7
 
 
 
Platform Evolution
Through acquisitions and organic growth, Kaman has significantly grown its
Distribution business while greatly expanding its product offering
Bearings & Power Transmission
up 40%
Automation, Control & Energy
up 203%
Fluid Power
up 97%
8
 
 
 
9
Fluid Power - Differentiated Strategy
• $13 Billion in Revenue | #1 Global Fluid Power Products Manufacturer
• Innovative Products: driven by customer need
• Systems Solutions: no single company can offer a more complete selection
• Efficient Operations: most complete and best quality systems in the industry
• Distributor-friendly: philosophy that supports and protects distribution
 
 
 
Fluid Power - Achieving Critical Mass
• 2011: Kaman acquires Catching
 FluidPower and is approved to
 distribute Parker products
 nationally
• 2013: Added 9 new locations via
 two acquisitions
• 2014: Acquired B. W. Rogers’ 21
 locations; 7 states
• Establishes contiguous Parker
 territory from New York to the
 Iowa border
With B. W. Rogers, Kaman is
Parker’s 2nd largest distributor
10
 
 
 
Automation, Control & Energy
Product, Markets, Content
Best-in-class value-added sales force
Engineering specialists
National vendor / product base
Water/Wastewater, Critical Power, Process markets
Automation & Control, Drives & Systems
Operational Execution
Customer focused organization
Value-added systems centers
Integration of multi-vendor products
Centralized purchasing
Continuous improvement programs
Higher Margins | Embedded Customer Solution Provider | Technically Differentiated
+
11
 
 
 
Delivering Value-Added Services
Assembly and Fabrication
Engineering and Design
Field Installs and Troubleshooting
Panel Design and Build
Repair and Rebuild
Training and Support
Creates Market Opportunity | Deepens Customer Relationships | Improves Margins
Products
Systems
Services
Efficiency
Profitability
Reliability
Cost
Downtime
Risk
12
 
 
 
Business Strategies
• Pipeline for each product platform
• Formal integration process
• End market diversification
• Focused on outside sales force
• Targeting strategic geographic markets
• Kaman training programs
• Adding more differentiated products
• Large national account opportunity pipeline
• Targeting emerging industries
• Strategic pricing
• Supplier rebates
• Purchasing leverage
• Multi-phase rollout
• Includes CRM, WMS, Financials
• Drives operational efficiencies
1
2
3
5
4
13
 
 
 
Acquisitions in all Product Platforms
14
 
 
 
Organic Initiatives - Expanding to New End Markets
15
 
 
 
• Focused initiative to expand outside sales force
• Positioned in key geographic end markets
• Designed to accelerate organic growth
• Cash flow positive in less than 12 months
Sales Force Expansion
16
 
 
 
Profitability Initiatives
Strategic pricing
Increase utilization of preferred vendors
ERP deployment
Product category management
17
 
 
 
ERP Technology Investments
• Consolidate 12 business systems
 to standard enterprise-wide
 business system
• Infor Distribution SX.e is a leading
 distribution ERP solution

Increase customer satisfaction
Drive higher sales volume
Productivity gains from reduced transaction
and response times
Increased profitability from consolidating
purchasing and lowering procurement costs
BENEFITS
18
 
 
 
Summary
Growth
• Acquisitions provide a more diversified and larger available
 market
• 3-platform strategy expands products and services offering
• Sales force expansion, geographic footprint and new end
 markets
Profitability
• Increasing technical product mix to enhance gross margins
• Supplier management to drive improved margins
• Strategic pricing initiative
Productivity
• ERP deployment to deliver value from scale, purchasing
 leverage, and improved customer service operations
• Acquisition integration to leverage back offices
• CRM implementation to drive increased sales performance
19
 
 
 
ex99-5.htm  
1
Financial Overview
Robert Starr
 
 
 
2
Long-Term Financial Goals
Deliver strong sales growth through
organic initiatives and acquisitions
 
 
Expand Adj. EBITDA* margins
 
 
Generate free cash flow*
- Between 80-100% of net income
 
 
Provide strong investor returns
 
 
 
 
3
Historical Financial Results
in million $, except EPS
223%
96%
38%
84%
 
 
 
4
2014 Financial Performance / Outlook
 
H1 2013
H1 2014
2014 Outlook
Kaman Distribution Group
 - Sales
 - Operating Margin
 
$527 M
3.5%
 
$569 M
4.7%
 
$1,190 - $1,220 M
4.8% - 5.2%
Kaman Aerospace Group
 - Sales
 - Operating Margin
 
$292 M
17.0%
 
$304 M
16.0%
 
$640 - $660 M
16.5% - 16.7%
Corporate Expense
$23 M
$26 M
$52 M ┼
Interest Expense
$6 M
$6 M
$14 M
Tax Rate
34.4%
33.8%
35.0%
Capital Expenditures
$21 M
$18 M
$30 - $35 M
Free Cash Flow*
$(35) M
$(6) M
$50 - $55 M ┼
┼ Excludes costs associated with the disposition of idled Moosup facility
 
 
 
5
Five Year Financial Targets
o 3% - 6% organic sales
 growth*
o 3% - 10% including
 acquisitions
o High-teens operating
 margin %
 
 
 
6
Scale
Kaman Distribution - Road to 7+% Operating Margin
TODAY
5%
FUTURE
7+%
Improved Operational
Efficiencies
Product Mix
Strategic Pricing
CATALYSTS
 
 
 
7
Provide the financial
capacity to support
Kaman strategic goals
while appropriately
managing our
financial risk
Target range for
Debt / EBITDA♯
of 2-3 x over the
business cycle
♯As defined per the Credit Agreement
 
 
 
8
Capital Deployment Framework
Capital deployment is focused on growth investments &
return of capital to shareholders
Period: 2007-H1 2014
 
 
 
9
Recent Acquisitions
 
 
 
10
Increased capital expenditures to support growth
& improved profitability
Capital Expenditures
Facilities and Equipment
New Aerospace Programs
Information Technology &
ERP Systems
 
 
 
11
Dividend Philosophy
Annual Dividends Per Share
44 years
uninterrupted dividend
payments
Maintain competitive
dividend yield with
peer group
 
 
 
 
 
 
 
 
 
 
ex99-6.htm  
Aerosystems
James Larwood
 
 
 
 
 
 
Aerosystems Today
§ Extensive capabilities combined into “One Kaman” to meet our customers’ needs
 • Project Management
 • Engineering
 • Test and Certification
 • Tool Design/Fabrication
 • Manufacturing/Production
 - Sheet metal/extrusions
 - Machined Parts
 - Assembly/Sub Assembly
 - Composite Components
 - OEM/Products
 • Product Support
Integration positions us to offer a full suite of capabilities across platforms
 
 
 
Engineering
1
§Aircraft Structures
§Design & Analysis
§Certification
Composites
Bennington, VT
4
§Racks & Enclosures
§Radomes & Fairings
§Imaging Equipment
Composites
§Out of Autoclave
§Aircraft Doors
§Control Surfaces
8
Tooling
Burnley, UK
9
§Tool Design
§Tool Build & Install
§Assembly Fixtures
§GSE
§Compression Molding
§Large Cure and NDI
§Vacuum Forming
Composites
Wichita, KS
2
§Rotor Blades
§Metal Bond/Treatment
§Filament Winding
Composites
Bloomfield, CT
3
Composites
§Imaging Equipment
§Offset Market
§Low Cost
11
 WA & SC
Aerosystems Footprint
Metallics
Chihuahua, Mexico
6
§ Sheet Metal Fab
§ Heat treat
§ Extrusions
§ Small Sub
 Assemblies
§ Low Cost
Assembly/Metallics
§ Large Structural
  Integrations
§ Cockpits, Cabins,
 TRPs, T/E, WTBF
 Assemblies
§ Certifications
§ Machining Center
Jacksonville, FL
5
Darwen, UK
Metallics
§Assemblies
§Sub Assemblies
§Metal Treatments
10
Hyde, UK
10
Goa, India
Site locations and Centers of Focus
MRO
Bloomfield, CT
7
§ Aftermarket Support
§ K-MAX, UAS K-MAX &
 Super Seasprite
 Helicopters
§ Test and Development
§ Product Support
1
4
 
 
 
Strategic Initiatives
§ Maximize operational performance at all businesses by continuing
 transformational initiatives
 
§ Continue to drive cost and operational efficiencies through further
 integration and consolidation
 
§ Build upon increased market recognition via “One Kaman” and
 customer supply chain consolidation efforts to gain greater share of
 work packages
 
§ Expand capabilities and grow scale/content through selective
 investment
Improve - Change - Compete - Grow
5
 
 
 
 § Standardized tools and metrics across all locations
 § Major focus areas
 § ERP
 § Supply Chain
 § Operations
 § Finance
 § ERP Implementation Plan:
Wichita
JAX/MX
UK
BLM
KES
VT
Phase I
Phase II
Phase III
Phase IV
Phase V
AVMRO
Phase VI
ERP enabling integration and consolidation
Efficiencies Through Integration and Consolidation
 
 
 
Interiors
Wing-to-body fairing
Doors
Engine
Components
Wings
Control Surfaces
Nacelles
Tail
Components
Winglets
TRP
Tunnel Covers
Floors
Pylons
Doors
Landing Gear Doors
Rotor Blades
Engine Inlet
Covers
Fuselage
Structures
Cockpits
Radomes
Core Competencies
7
 
 
 
Aerospace Marketplace
Expected Five Year CAGR of 3%-5%
Source: Counterpoint 2014 Aerostructures Market Study
Tier II
8
 
 
 
Competition
Breadth of Kaman capabilities provides opportunity to differentiate
Source: Counterpoint 2014 Aerostructures Market Study
Tier II
Tier I
OEM
9
 
 
 
§ Innovative design and engineering
 solutions
§ Boeing Supplier of the Year for 2012
 and Silver Supplier for 2013
§ Center of Excellence
 • Finite Element Analysis
 • Passenger to Freighter
 Conversions
§ New hub in Charleston, SC
 supporting Boeing 787
Engineering Profile
10
 
 
 
Tooling - Products, Services and Capabilities
§ New Facility - Burnley UK in 2014
§ Large and Automated Tooling
 
§ All types of Materials
CMM
5-Axis (71’ x 11’ x 5’)
Composite Mold Tool
Vacuum Drill & Rout
11
 
 
 
Aileron and Winglet
Doors
 
 
 
Assembly & Metallics - Products and Capabilities
§ Complex Integrated Structures
 
§ Assembly and Subassembly
 
§ 3-Axis & 5-Axis Machining
 
§ Sheet Metal Fabrication
H60, Cockpit Structure
747-8, Wing Fairing
777/767, FTE Kit
 
 
 
Air Vehicles and MRO - Products, Services and Capabilities
§ Aftermarket Support
 • SH-2G (Egypt, New Zealand, Poland)
 • K-MAX®
 ─ Commercial
 ─ Unmanned
§ MRO
 • Test & Analysis
 • Publications & Training
 • Spares, Repairs and Asset Management
SH-2G Super Seasprite
Unmanned K-MAX®
Commercial K-MAX®
Test & Analysis
14
 
 
 
Summary
§ Integration of Aerosystems positions us to drive significant operational
 synergies, while directly addressing customer needs
§ Well-placed globally
§ New growth opportunities, especially in commercial markets
§ Full range of capabilities
 § Design
 § Tooling
 § Fabrication
 § Assembly
 § Aftermarket support
POSITIONED FOR GROWTH
15
 
 
 
ex99-7.htm  
Specialty Bearings & Engineered Products
Robert Paterson
 
 
 
PROPRIETARY
2
This document does not contain ITAR or EAR technical data.
Differentiation and Technical Leadership
Kaman
Self-Lube
Bearings
As competition advances,
Kaman extends product
performance lead while
driving cost reductions to
protect legacy business
Performance
Cost
Drive new products to
create niche, differentiated
positions on new platforms
 
 
 
3
Applications throughout the Aircraft
Flap & Slat
Bearings
Steering
Collars
Self-aligning
Door Pins
Structural
Attachment Bearings
Landing Gear
Trunnion Bearings
 
 
 
4
Applications throughout the Aircraft
Main
Drive Shaft
Tail Drive Shaft
Swashplate
Uniball
Pitch Control
Sphericals & Rod Ends
 
 
 
5
Well-positioned in Hydroelectric, Water Navigation, and Marine
Bow Plane
Bearings
Periscope
Slider
Door
Bearings
Submarine
John Day Hydro Facility
Turbine
Bushings
Gate
Bushings
Pitch Control
Sphericals
 
 
 
6
 
 
 
PROPRIETARY
7
This document does not contain ITAR or EAR technical data.
USA 47%
Canada 6%
Brazil
2%
Europe
36%
Asia
7%
Middle
East 2%
Diverse Global Footprint (by Shipments)
Field Engineers are positioned locally in every aerospace market in the world.
 
 
 
PROPRIETARY
8
OEM
60%
Aftermarket
40%
Electric Boat
Virginia Class
Lockheed JSF
AgustaWestland AW169
Embraer KC390
Airbus A350
Gulfstream G650
Commercial and Military Business Balance
Note: Percentages are approximate
Commercial
75%
Military
25%
 
 
 
9
Over 900 Customers Worldwide
 
 
 
 
 
 
 
 
 
12
Technical Differentiation
Advanced Inspection Tools
Design Analysis
Extreme Temperature Testing
High Load, Life Cycle Testing
 
 
 
13
Differentiators
• Proprietary, innovative technology driving product growth
• Highly skilled engineers and material scientists
• Strong customer relationships supported by global field engineers
• World-class operations and best lead-times in the industry
 
 
 
ex99-8.htm  
Fuzing and Precision Products
Jerry Ricketts
 
 
 
Overview
• Basic Competencies Across Product Lines
 − Prime DoD contractor
 − Focused areas of specialty: explosive assemblies, high precision
 sensors, and ruggedized design for harsh environments
 − Specialty electronic and mechanical design and manufacturing
• Facts
 − World’s leading provider of bomb fuzes
 − Approximately 300,000 square feet including:
 • Middletown - Manufacturing / Engineering / Admin.
 • Orlando - Manufacturing / Engineering / Range Operations
 − 400 employees
2
 
 
 
MH-60R
Product Lines
Bomb Fuzing
Missile Fuzing
SLAM-ER
JPF
F15 w/JDAM
F18 w/Missiles
Guardian Mirror
Measuring
C130
Memory
3
 
 
 
Sales Mix
2013 SALES BY PRODUCT LINE
2013 SALES BY END MARKET
Business base:
• 2 bomb platforms
• 10 active missile platforms
• Several development programs
Growth opportunities:
• Sales to U.S. Navy
• Direct commercial sales
• Measuring Systems
• UAV small weapon platform
Memory 5%
Missile
Fuzing 15%
Commercial 2%
Military 98%
4
 
 
 
Diverse Customer Base
• JPF
• JPF
• Tomahawk
• Maverick
• AMRAAM
• Measuring Products
• JAASM
• ATACMS
• Memory Products
• Memory Products
• Harpoon
• SLAM-ER
• Measuring Systems
5
 
 
 
Joint Programmable Fuze (JPF)
• Sole source dual-site long-term production contract
• Fuze programs typically last for decades - JPF production was
 authorized in 2004
• Over 160,000 units delivered to the U.S. and 26 other nations
• Large long-term backlog in excess of $100 million
• Significantly improved producibility and field reliability
6
 
 
 
JPF - Field Reliability
7
 
 
 
JPF Lot Acceptance Test Reliability
8
 
 
 
New Technology and Opportunities
• The U.S. Navy does not have a bomb fuze
 with the advanced capabilities of the JPF
• The JPF or a variant is a good solution for
 the Navy
 ü Already in production
 ü Low cost
 ü High reliability
 ü The JPF is already integrated with the
 F/A-18 and F-35
• Kaman is aggressively pursuing this
 opportunity
9
 
 
 
New Technology and Opportunities - Fuzing
 • Transition Electronic Safe and Arm Device (ESAD) from development
 to production
 • Supporting Raytheon in successfully transitioning Pyros into a
 production program
PYROS ESAD Fuze
Raytheon Pyros Munition
10
 
 
 
• Micro Electro Mechanical Systems (MEMS) Technology being
 incorporated into “Ammunition” Fuzes
• A Dramatic Reduction in Size of Fuzing Enables New Technology
 Insertion into Smaller Munitions
New Technology and Opportunities - Fuzing
40mm Grenade Safe & Arm
~Ø32mm (1.26 inches)
MEMS
Safe & Arm
~5 x 5mm
(0.2 inches x0.2 inches)
11
 
 
 
New Technology and Opportunities - Sensors
• Measuring “On Condition Maintenance” Equipment Monitoring
• Sub-Sea Equipment
12
 
 
 
Summary
• Sole source position on technologically superior, high volume JPF
 program and multi-decade missile fuze programs
• Blue chip customer base across three product lines
• Strong, multi-year backlog provides high level visibility
• Pursuing new technologies and opportunities to drive growth
13
 
 
 
ex99-9.htm
Platform Product Solutions
Thomas Weihsmann
David Mayer
 
 
 
2
The Kaman Difference
Premium products by best-in-class suppliers
Highly qualified vendors
Value-added solutions
First in industry to offer
a comprehensive,
thoroughly-tested
and quantifiable plant
savings program
 
 
 
3
Best-in-Class Suppliers
 
 
   
 
   
   
 
 
 
 
 
 
 
     
 
 
 
 
 
 
   
 
 
 
 
 
   
 
 
 
 
   
 
 
     
 
 
 
 
 
 
 
4
Supply Chain and Logistics
• 257 Locations
• 5 Distribution Centers
• 2 million+ orders
 processed annually
• 99.98% shipping
 accuracy
• Logistics infrastructure
 provides high level of
 customer service
ERP will fully leverage common distribution
network across all product platforms
 
 
 
5
Custom Engineered Products
 
 
 
6

Adding Leading Brands in Multiple Technologies
PLCs, HMIs
Sensors & Signaling
Machine Safety
Hydraulics
Pneumatics
Fluid Connectors
Motion Control
Servos & Steppers
Linear Motion
Bearings
Power Transmission
Industrial Supplies
 
 
 
 
 
 
Automotive
Power Generation
Beverage
Oil & Gas
Food
Paper
Primary Metals
Mining
Fabricated Metals
Original Equipment Manufacturers (OEM)
Bearings &
Power
Transmission
Fluid
Power
Automation,
Control &
Energy
Cross-sell Opportunities by Industry
7
 
 
 
8
Bearings | Electrical
• Ball
• Mounted
• Roller
• Sleeve
• Taper
 
• Machinery
• Fabricated Metals
• Paper
• Mining
• Power Generation
 
 
 
Products
Industries
• Motors
• Drives
• Starters
• Clutches & brakes
• Signaling
 
 
 
• Food & Beverage
• Fabricated Metals
• Paper
• Unit Handling
• Air Handling
 
 
 
Products
Industries
Bearings range in size from millimeters to 10 feet or more in
diameter and motors from sub-fractional to 25,000 horsepower
 
 
 
9
Power Transmission | Precision Mechanical
• Gearing
• Belt drives
• Chain drives
• Couplings
• Sheaves & bushings
 
• Machinery
• Mining
• Food & Beverage
• Water & Wastewater
• Paper
 
 
Products
Industries
• Linear rail
• Actuators
• Precision stages
• Ball screws
• Gear Motors
• Metals
• Electronics
• Transportation
• Medical
• Semiconductor
 
 
 
Products
Industries
Products run diverse applications ranging from steel
blast furnaces to pharmaceutical dosing equipment
 
 
 
10
Hydraulics | Pneumatics
• Air preparation
• Cylinders
• Motors
• Valves
• Fluid control
• Food & Beverage
• Machinery
• Fabricated Metals
• Paper
• Cement
Products
Industries
• Cylinders
• Motors
• Pumps
• Valves
• Power units
 
• Machinery
• Mining
• Primary Metals
• Forest Products
• Mobile Equipment
Products
Industries
Fluid power products range in power from
pounds per square inch to tons of force
 
 
 
11
Automation l Motion Control
• Servo motors
• Servo drives
• Electrical actuators
• Robotics
• Integrated motors
 
• Packaging
• Food & Beverage
• OEM Machinery
• Medical diagnostics
• Printing
 
Products
Industries
• Sensors
• PLCs
• Machine Safety
• HMIs
• Controllers
 
• Electronics
• OEM Machinery
• Food & Beverage
• Plastics
• Printing
Products
Industries
Products provide wide range of controls and precise
positioning of machines down to sub-micron levels
 
 
 
Thank You! | Questions?
 
 
 
ex99-10.htm
Platform Value-Added Solutions
Gary Haseley
Tribby Warfield
 
 
 
2
• Value engineered-
 solutions drive
 customer intimacy
• Technical product
 capability enables
 cross platform
 synergy
• End market
 knowledge aligned
 with application
 expertise
• Comprehensive
 product and services
 capability creates
 differentiated value
 proposition
Application & Industry Specialists for Technical Support
 
 
 
3
Extensive Solution and Service Capabilities
 
 
 
4
Comprehensive Approach to Solutions & Services
• Kaman provides solutions to optimize processes
 and reduce Total Cost of Ownership
• Expertise and capacity to provide end-to-end
 custom-engineered system solutions
• From components to implementation and training
 
 
 
5
Automation Engineering and Integration Solutions
Capability to custom
engineer and build
Automation & Control
systems
• Machine vision
  inspection
• Motion control and
  robotics
• Power and
  communication
  infrastructure
• Software development
• Supervisory Control
  and Data Acquisition
  (SCADA) and telemetry
 
 
 
6
Value-added
automation and
control solutions from
system design to start-
up and optimization
• Mechatronics and turn-
  key systems
• Motor control
  assemblies
• Safety guarding
• Custom cabling and
  enclosures
• Custom tables
• Mechanical assemblies
  and linear motion
Custom Electro-mechanical Solutions
 
 
 
7
Complete Process Control Capabilities
Systems integration
across diverse end
markets
• Supervisory Control
  and Data Acquisition
  (SCADA)
• Networking and
  telemetry solutions
• System analysis 
• Specification
  development  
• Asset management and
  long term service
  agreements
• Data center power and
  energy monitoring 
 
 
 
8
Complete Fluid Power Integration
Integrated Tri-Motion
capabilities
• Hydraulic Power Units
  (HPU)
• Controls and
  instrumentation
• Programming
• System validation
• System performance
  tracking
• Maintainability
• Port-to-Port Solutions
 
 
 
9
Engineered Fluid Power Solutions
Concept - Design -
Manufacture
• Hydraulic system design
• Custom lubrication
  systems
• Fluid power cooling
  skids
• System monitoring and
  protection
• Energy consumption
  considerations
• Monitoring of oil quality
• System redundancy for
  critical applications
• Documentation and
  testing
 
 
 
10
OEM Engineering and Build
Engineering and
system design
capabilities
• Design to order or
  build to print
• Augment OEM
  engineering and
  assembly capacity
• Ability to design for
  manufacture based on
  application experience
• Process orientation
  and proven track
  record creates
  recurring revenue
  stream
• High switching cost
  drives long term
  relationships
 
 
 
11
Kaman Distribution Solution Summary
• Synergy to provide solutions for our customers that
 include all 3 product platforms
• Providing outsourcing capability for our OEM’s to meet
 variable demand
• Breadth of products and services combined with national
 coverage model offers a distinctive value proposition
 for our customers
• Technical differentiation brings value to product and
 supplier relationships in providing system solutions
• Technical experience and engineering capability add
 value to all aspects of the distribution business
 
 
 
Thank You! | Questions?
 
 
 
ex99-11.htm  
1
Wrap-up
Neal Keating
 
 
 
2
ü Proven strategies have delivered strong shareholder value over time
ü Aerospace
 - Leveraging unique set of proprietary products and capabilities
 - Strong platform positions across commercial & defense markets
 - Robust pipeline of future opportunities
ü Distribution
 - Three product platform strategy expands growth opportunities
 - Increased scale provides improved operating leverage
 - ERP implementation benefits
ü Successfully execute future acquisitions - maintain discipline
ü Leverage experienced management and workforce across the
 company
Positioned for Future Growth
 
 
 
ex99-12.htm  
Appendix I

Non-GAAP Reconciliations
 
 
 
2
Adjusted EBITDA
Adjusted EBITDA - Adjusted EBITDA is defined as operating income before depreciation and amortization.
Adjusted EBITDA is calculated on our consolidated results as well as the results of our reportable segments.
Adjusted EBITDA differs from Segment Operating Income, as calculated in accordance with GAAP, in that it
excludes depreciation and amortization. We have made numerous investments in our business, such as
acquisitions and increased capital expenditures, including facility improvements, new machinery and equipment,
improvements to our information technology infrastructure and new ERP systems. Management believes Adjusted
EBITDA provides an additional perspective on the operating results of the organization and earnings capacity and
helps improve the comparability of our results between periods by eliminating the impact of non-cash
depreciation and amortization expense. Adjusted EBITDA does not give effect to cash used for debt service
requirements and thus does not reflect  available funds for distributions, reinvestment or other discretionary uses.
Adjusted EBITDA is not presented as an alternative measure of operating results or cash flows from operations, as
determined in accordance with GAAP.
 
 
 
3
Adjusted EBITDA
 
 
 
4
Free Cash Flow
Free Cash Flow - Free cash flow is defined as GAAP “Net cash provided by (used in) operating activities” less
“Expenditures for property, plant & equipment.” Management believes free cash flow provides an important
perspective on the cash available for dividends to shareholders, debt repayment, and acquisitions after making
capital investments required to support ongoing business operations and long-term value creation. Free cash
flow does not represent the residual cash flow available for discretionary expenditures as it excludes certain
mandatory expenditures such as repayment of maturing debt. Management uses free cash flow internally to
assess both business performance and overall liquidity. The following table illustrates the calculation of free cash
flow using “Net cash provided by (used in) operating activities” and “Expenditures for property, plant &
equipment”, GAAP measures from the Consolidated Statements of Cash Flows included in this release.
 
 
 
5
Organic Sales Growth
Organic Sales  - Organic sales is defined as GAAP net sales less sales derived from acquisitions. Management
believes organic sales provides an important perspective on the underlying performance of our operations.
 
 
 
ex99-13.htm  
Appendix II

Presenters
 
 
 
2
Presenters
Robert D. Starr
Neal J. Keating
Steven J. Smidler
Gregory L. Steiner
Chairman, President and
Chief Executive Officer
• Kaman service: 7 years
• CEO since 2008
• 37 year career in both
  Aerospace and Industrial
  markets
• Experience includes Hughes
  Supply, GKN Aerospace,
  Rockwell Collins, and Rockwell
  Automation
Senior Vice President and
Chief Financial Officer
• Kaman service: 5 years
• CFO since 2013
• Formerly company Treasurer
• Diverse industry experience
• Certified Public Accountant
President - Kaman
Aerospace Group and
Executive Vice President
Kaman Corporation
• Kaman service: 6 years
• Aerospace Industry veteran
  at companies including
  Rockwell Collins, and
  Smiths/GE
• USAF and Reserve pilot
 (attained rank of Captain)
President - Kaman
Industrial Technologies and
Executive Vice President
Kaman Corporation
• Kaman service: 4 years
• Division President since 2010
• Thirty years of industry
  experience
• Industrial veteran at companies
  including Eaton and Rockwell
  Automation
• Significant international
  experience
 
 
 
3
Presenters
Robert G. Paterson
James C. Larwood, Jr.
Gerald C. Ricketts
President
Kaman Aerosystems
• Kaman service: 27 years
• Aerosystems president since 2012
• Division president since 2004
• Aerospace composites and
  engineering background
• Worked at Grumman prior to joining
  Kaman
President
Kamatics Corporation
• Kaman service: 34 years
• Division president since 2010
• Formerly Vice President Marketing
  and Sales
• Deep understanding of the self-lube
  bearing market
President
Precision Products Division of
Kaman Aerospace Corporation
• Kaman service: 4 years
• Almost 40 years of Aerospace industry
  experience
• Previous employers include, Goodrich,
  Pratt & Whitney, Avco-Lycoming, and
  Chandler Evans
• Wide ranging experience includes
  operations, engineering, lean
  manufacturing, six sigma practices,
  project management, and product
  design & development
 
 
 
4
Presenters
Tribby W. Warfield
Thomas A. Weihsmann
David H. Mayer
Gary J. Haseley
Senior Vice President and
General Manager
Kaman Industrial Technologies
• Kaman service: 23 years
• Promoted to current position in 2012
• Has served in sales and
  management positions of increasing
  responsibility throughout the
  organization
• Experience at other industrial
  distributors
Senior Vice President and
General Manager
Fluid Power
• Kaman service: 1 month
• Joined Kaman after a 25 year
  career with Gates Corporation
• Led Gates’ North American
  power transmission and fluid
  power businesses in the U.S.
• Global experience including 11
  years in Europe
Senior Vice President and
General Manager
Automation, Control and
Energy
• Kaman service: 2 years
• Joined Kaman upon the
  acquisition of Zeller
  Corporation
• As CEO, grew Zeller into an
  $80 million electrical distributor
  and service provider
Vice President
Marketing and Services
• Kaman service: 25 years
• Has served in his current
  role since 1998
• Previously served in a
  variety of functional areas
  within the company
• Past President of the PTDA