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KAMAN HOLDS ANNUAL MEETING: COMPANY REPORTS FIRST QUARTER RESULTS, SHAREHOLDERS ELECT DIRECTORS

 KAMAN HOLDS ANNUAL MEETING:
 COMPANY REPORTS FIRST QUARTER RESULTS,
 SHAREHOLDERS ELECT DIRECTORS
 BLOOMFIELD, Conn., April 21 /PRNewswire/ -- Kaman Corp. (NASDAQ: KAMNA), today, at its annual shareholders' meeting held here, reported 1992 first quarter net earnings were up slightly on increased revenues compared to the first quarter of 1991. Shareholders then elected C. William Kaman II, president of Kaman Music Corp., a director and re-elected 12 other directors to the Kaman board.
 First Quarter Results
 Net earnings during the first quarter were $3.9 million or 21 cents per share compared to $3.85 million or 21 cents per share in the first quarter of 1991. Revenues were $205.5 million in the first quarter of 1992 compared to $195.0 million in 1991.
 "We are pleased with our first quarter results, given the market conditions within our business sectors," said chairman and chief executive officer Charles H. Kaman at the shareholders' meeting. "Sales and earnings increased during the first quarter in our industrial distribution business, reflecting some improvement in several sectors of the U.S. economy. The durability and extent of economic recovery is still unclear. We remain vigilant in our focus on controlling costs and improving our competitive position."
 "Our commercial businesses, both music distribution and aviation, remained firm during the quarter," said Kaman. "Our new K'MAX 'aerial truck' helicopter was well received during its introduction at the Helicopter Association International Heli-Expo '92 held in Las Vegas a month ago. We received several hundred inquiries from potential domestic and international customers.
 "The defense industry continues to feel the effects of changing priorities," explained Kaman. "Earnings in our defense businesses were down somewhat during the quarter, reflecting these trends. We continue to benefit from our diversification and see significant potential for our many new technology iniatives in the emerging defense arena. These include the Magic Lantern airborne mine countermeasures system, the Multi-Mission Intermeshing Rotor Aircraft (MMIRA) program for unmanned aerial vehicle (UAV) applications, electromagnetic motor and launch systems and other programs.
 "Kaman Corporation is financially strong and well positioned. We have invested in the future: forty percent greater research and development spending in 1991 over 1990 and we continue to invest this year at 1991 levels. While we remain cautious, given the continuing pressures in defense and the economy, we are confident about the company's long-term potential for success and growth," concluded Kaman.
 Shareholders Elect Directors
 Kaman Corp. shareholders, at the annual meeting, elected C. William Kaman II and re-elected 12 directors.
 C. William Kaman II, 40, began his career with Kaman Music Corp. as a guitar maker in 1974. He became active in product development, rising to the position of director of development for Ovation in 1977. In 1979, he became vice president of technologies and executive vice president of Ovation in 1984. Kaman became president of Kaman Musical String in 1985 and in 1986 he was named president of Kaman Music Corp. He has been a member of the Kaman Corp. Management Executive Committee since 1987.
 A Western New England College graduate with a B.S. degree in economics, Kaman is past president of Guitar Accessories Manufacturers Association (GAMA) and is an active member of the Music Distributors Association (MDA). He and his wife Loraine reside in Granby, Conn.
 Directors re-elected to the board by Kaman shareholders were: Frank C. Carlucci, vice chairman, The Carlyle Group; John A. DiBiaggio, president, Michigan State University; Edythe J. Gaines, retired commissioner, Connecticut Department of Public Utility Control; Huntington Hardisty, retired admiral, U.S. Navy; Charles H. Kaman, chairman and chief executive officer, Kaman Corp.; Hartzel Z. Lebed, retired president, CIGNA Corp.; Harvey S. Levenson, president and chief operating officer, Kaman Corp.; Walter H. Monteith, Jr., chairman and chief executive officer, Southern New England Telecommunications Corp.; John S. Murtha, of counsel Murtha, Cullina, Richter and Pinney; Robert L. Newell, retired chairman, Hartford National Corp.; Wanda L. Rogers, chairman and president, Rogers Helicopters, Inc.; and William L. Webb, Jr., president and psychiatrist-in-chief of the Institute of Living.
 In other actions, shareholders authorized the board of directors to elect an additional director during the ensuing year. They also appointed KPMG Peat Marwick as the corporation's independent auditors.
 Kaman Corp., headquartered here, is a highly diversified company with business activities in defense (40 percent), industrial (40 percent) and commercial (20 percent) markets.
 KAMAN CORPORATION AND SUUBSIDIARIES
 Condensed Consolidated Summaries of Earnings
 (In thousands except per share amounts)
 Three months ended March 31,
 1992 1991
 Net revenues $205,461 $195,035
 Earnings before income taxes $6,733 $6,638
 Income taxes $2,829 $2,790
 Net earnings $3,904 $3,848
 Net earnings per share
 - Primary $.21 $.21
 - Fully diluted $.21 $.21
 -0- 4/21/92
 /CONTACT: J. Kenneth Nasshan of Kaman Corporation, 203-243-7319/
 (KAMNA) CO: Kaman Corp. ST: Connecticut IN: ARO SU: ERN


KD-HM -- NY076 -- 0734 04/21/92 13:59 EDT
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