8-K

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): August 9, 2007 (August 9, 2007)

Kaman Corporation

(Exact Name of Registrant as Specified in Its Charter)

Connecticut

(State or Other Jurisdiction of Incorporation)

0-1093	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 8.01                      Other Events.

From time to time, members of Kaman’s senior management present information about Kaman to investors. The materials set forth in Exhibit 99.1 are incorporated by reference herein and such material may be presented to investors in the future.

Item 9.01  Financial Statements and Exhibits.

(c) Exhibits.

Exhibit 99.1 Material used by Kaman’s management for presentation to investors.  

2

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/ Robert M. Garneau
	Robert M. Garneau
	Executive Vice President and
	Chief Financial Officer

Date: August 9, 2007

3

KAMAN CORPORATION AND SUBSIDIARIES

Index to Exhibits

Exhibit 99.1 Material used by Kaman’s management for presentation to investors.

4

EX-99.1

INVESTOR PRESENTATION

Kaman Corporation

(NASDAQ-GM: KAMN)

2Q/2007

Slide 1

    Forward-looking Statements

Forward-Looking Statements

This presentation may contain forward-looking information relating to the company's business and prospects,

 including the Aerospace, Industrial Distribution and Music businesses, operating cash flow, and other matters

that involve a number of uncertainties that may cause actual results to differ materially from expectations. Those

 uncertainties include, but are not limited to: 1) the successful conclusion of competitions for government

 programs and thereafter contract negotiations with government authorities, both foreign and domestic;

2) political conditions in countries where the company does or intends to do business; 3) standard government

contract provisions permitting renegotiation of terms and termination for the convenience of the government;

 4) domestic and foreign economic and competitive conditions in markets served by the company, particularly

defense, commercial aviation, industrial production and the consumer market for music products; 5) risks

associated with successful implementation and ramp up of significant new programs; 6) satisfactory completion

 of the Australian SH-2G(A) program, including negotiation of payment and performance terms for the balance

 of the program as well as the additional work scope that would assist the Commonwealth in achieving

certification of the aircraft in Australia;  7) 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 both have been assumed in connection with goodwill impairment evaluations; 8) in the EODC/University

of Arizona litigation, successful defeat of the University’s appeal of the jury verdict in the company’s favor;

9) satisfactory resolution of (i) the company’s dispute with the U.S. Army procurement agency relating to

 warranty work for the FMU-143 program and (ii) the 2005 DCIS investigation of that program; 10) satisfactory

 results of negotiations with NAVAIR concerning purchase of the company's leased facility in Bloomfield,

Conn.; 11) continued support of the existing K-MAX helicopter fleet, including sale of existing K-MAX spare

 parts inventory and in 2007, availability of a redesigned clutch assembly system; 12) cost growth in connection

 with environmental remediation activities at the Moosup facility and such potential activities at the Bloomfield

 facility; 13) profitable integration of acquired businesses into the company's operations; 14) changes in supplier

 sales or vendor incentive policies; 15) the effect of price increases or decreases; 16) pension plan assumptions

 and future contributions; 17) future levels of indebtedness and capital expenditures; 18) continued availability

 of raw materials in adequate supplies; 19) the effects of currency exchange rates and foreign competition on future

operations; 20) changes in laws and regulations, taxes, interest rates, inflation rates, general business conditions

and other factors; and 21) other risks and uncertainties set forth in the company's annual, quarterly and current

 reports, and proxy statements. Any forward-looking information provided in this report should be considered with

 these factors in mind. The company assumes no obligation to update any forward-looking statements contained in

 this presentation.

Contact:
Russell H. Jones, SVP, Chief Investment Officer & Treasurer
(860) 243-6307
Russell.Jones@kaman.com

Slide 2

Percent Distribution of Segment Sales:  Full-year 2006

55%

9%

18%

6%

6%

6%

Kaman Corporation Segment Reporting Structure

•Kaman reports information in six
     business segments:  This
     includes four segments within the
     aerospace industry: Specialty
     Bearings, Aerostructures,
     Helicopters, and Fuzing; as well
     as the Industrial Distribution and
     Music segments.

•All segments have been part of
     the company’s diversified
     business mix since at least the
     1980s.

EXHIBIT 2

Key Messages:  Second Quarter Ended June 29, 2007

Slide 3

Four aerospace industry segments:  

üSpecialty Bearings segment: Sales up 14.4%; Operating income up 22.3% in quarter.  Demand for
      segment’s proprietary product continues to grow.

üAerostructures segment: Sales up 36.8%; Operating income up 84.3% for quarter driven by
     Sikorsky BLACK HAWK and Boeing 777 work at Jacksonville.

üHelicopters segment: Sales up 25.1%; Operating loss (due to Australia program charge) is lower in
      quarter and close to break even.  Quarter driven by ongoing Egypt SH-2G depot level maintenance and
      upgrade programs-and by subcontract work on BLACK HAWK for Sikorsky.  

üFuzing segment: Sales up 63.7%; Operating income up 170.6% for quarter.  Sales increase driven
      by Joint Programmable Fuze shipments.  Still subject to quarter-by-quarter fluctuations. 

Industrial Distribution segment: Sales up 2.4%, operating income down 10.4% for the quarter 

üEconomic conditions mixed for quarter, but appear moderately favorable for second half

üInvesting in ramp-up of large new national account contracts

üSales increase not sufficient to cover incremental increases in operating expense

Music segment: Sales down 1.1%, operating income essentially flat for the quarter 
          

üSoft market conditions for musical instrument sales

üCost control across the segment helped earnings

Four aerospace industry
segments

BUSINESS OVERVIEW

Slide 4

2006 sales for the four segments: $326.0 million

27%

   Specialty Bearings             $106.3                20%               $31.5                  $ 27.5

   Aerostructures            78.7                 69%                23.3                    17.1

  Helicopters                            69.9                 83%                19.0                    15.2            

  Fuzing                            71.1                 89%                24.0                    14.6              
   Total these segments              $326.0 
                     60%                   $97.8                        $ 74.4
          

Aerospace

Slide 5

Aerospace industry segments:

Percent share of Kaman’s 2006 aerospace
industry sales represented by each of the
four aerospace industry segments.

  Year ended                                 Quarter ended

Millions $ Sales                                 Millions $ Sales 

 12/31/06                  2006               6/29/07   6/30/06

Percent

Military

Sales by aerospace industry segment

Aerospace

Slide 6

Kamatics and RWG aerospace bearings

Specialty Bearings Segment:

4Designs and manufactures proprietary self-lubricating
      bearings for OEM and MRO use in nearly all military
      and commercial aircraft produced in North and
      South America and Europe

4Strategy: Maintain leadership in product technical
      performance and application engineering support
      while staying ahead of the curve in product
      technology enhancement:

4Target the most demanding applications early in the aircraft
     design process as part of prime-contractors’ problem-
     solving teams - and effectively address customers’ needs
     by providing the highest performance available

4Market size:  $0.5 billion high-end portion of the $ 1.2 billion
     aerospace bearing market

4Key customers include:  Military (U.S. and allied)
     (20% of 2006 sales), and Commercial
     (Boeing, Airbus, Embraer, Bombardier and others)

Aerospace

Slide 7

Top and Middle: Metals-oriented at Jacksonville
Bottom: Composites-oriented at Wichita 

 Aerostructures Segment:

4Produces parts and subassemblies for
     Tier 1 Prime Manufacturers:

4Military programs including Boeing C-17
    internal wing structures, Sikorsky BLACK HAWK
    helicopter cockpits, and Sikorsky MH-92
    helicopter composite tail rotor pylons

4Commercial programs including Boeing 777
    subassemblies and 787 composite structures

4Strategy:  Take advantage of substantial
     opportunities arising from the larger
     producers’(Airbus, Bell, Boeing, Sikorsky,
     Vought, etc.) offloading of manufacturing 

4Seeing opportunity for new
     programs: Available capacity, well-located,
     non-union, flexible, competitive 

Aerospace

Slide 8

Top: Kaman SH-2G Super Seasprites
Middle: Kaman K-MAX BURRO
Bottom: Joining BLACK HAWK 
helicopter sections at Bloomfield facility

 Helicopters Segment:

4Markets and supports Kaman-made SH-2G Super
      Seasprite maritime helicopter and K-MAX
      “Aerial Truck” helicopter -  and performs
      subcontract helicopter programs

4Strategy:  Take advantage of increasing
      opportunities in subcontracting as the Tier 1
      Prime producers shift from manufacturing to
      final assembly and systems integration

4Principal customers include: The governments
      of Australia, Egypt, New Zealand and Poland;
      and The Sikorsky Aircraft Corporation

4Current principal programs include: SH-2G(A)
      program for Australia (in a loss position), depot
      level maintenance and upgrades to SH-2G(E)
      helicopters for Egypt, K-MAX BURRO UAV program
      and BLACK HAWK subcontract work for Sikorsky.

Aerospace

Slide 9

Fuzes for high profile missiles such as the
Hawk; and bomb programs including the Joint
Programmable Fuze (JPF)

 Fuzing Segment:

4Manufactures safe, arm and fuzing devices
      for a number of major missile and bomb programs

4Missile programs: AMRAAM, ATACMS, Brimstone,
   M-100 Hawk, Harpoon, JASSM, Maverick,
   SLAM-ER, Standard and Tactical Tomahawk

4Bomb programs: Joint Programmable Fuze,
   FMU-143, FMU-139, 40mm

4Strategy:  Become the leading producer of
      fuzing systems for the U.S. and allied militaries
      Market size estimate: $650 million

4Principal customers: U.S. and allied militaries,
      Boeing, General Dynamics, Lockheed and
      Raytheon

4Division includes Measuring & Memory
      Systems products

Industrial Distribution
segment

BUSINESS OVERVIEW

Slide 10

2006 sales: $665.4 million

55%

Industrial Dist

Industrial Distribution

Slide 11

Industrial Distribution Segment

Extensive product catalogue

Value-added service

4Third largest player in $12 billion power transmission
      market.  Provides nearly two million products to more
      than 50,000 MRO and OEM customers

4Strategy:  

4Expand the geographic footprint in major industrial markets
     to enhance competition for national and regional accounts.

4Broaden the product line and further enhance operating and
     asset utilization efficiencies throughout the enterprise

4  Serves a broad cross section of North American
      industry with local branches in 70 of the top 100 U.S. Industrial
      markets.  Growing national account base

4Now nearly 200 locations in the U.S., Canada
      and Mexico

4The business tends to track the U.S. Industrial
      production and capacity utilization indices 

Industrial Distribution

Source: Federal Reserve Board

Slide 12

FRB Indices Of Industrial Production and Capacity Utilization:
Predictability: Segment tends to track national indices

Industrial Distribution

Slide 13

Portfolio Of Recognized Brands:More than 1.7 million products sold to more than 50,000 MRO and OEM customers

Industrial Distribution

Slide 14

Geographical Coverage:Nearly 200 locations in U.S. Canada and Mexico

Music segment

BUSINESS OVERVIEW

Slide 15

2006 sales: $214.8 million

18%

Music

Music

Slide 16

Music Segment

Largest independent distributor of percussion and
fretted musical instruments and accessories;
Industry-leading information technology systems

4Largest independent distributor of musical
      instruments and accessories in a $2.5 billion slice
      of the $7.0 billion U.S. musical instruments market:
      More than 20,000 products

4Strategy:  Build on Kaman’s strong brand identity
      while adding new market-leading names to the
      company’s offering of proprietary products
 

4Leads the market in use of technology, providing
      systems to service customers at all levels

4U.S. and Asian manufacturing supports Kaman’s
      proprietary and licensed brands of
      premium products

4Market is driven by consumer sentiment with
      the Holiday selling season a key driver

Music

Slide 17

Source: The Conference Board

Consumer Confidence Index:Music Sales are Highly Influenced by Consumer Sentiment/Holiday spending

Music 

Slide 18

Largest Independent Distributor:Over 20,000 Products in Total
Premier Branded Products: 51% of Segment Sales

Financial Review

Slide 19

Sales: 
2Q 2007: up 9.2% over 2Q 2006

Earnings before Income Tax:
See GAAP reconciliation (Slide 22)
for effect of one-time charges and gains in
second quarter 2007 and 2006

Net Earnings:
2Q 2007: up 34.4% over 2Q 2006
EPS - diluted:
Average diluted shares outstanding
2Q 2006: 24,880; 2Q 2007: 25,210

Income Statement Highlights for the Second-Quarter Periods

For the three-month periods ended

$293.0

   $320.0

$12.1

$15.6

     $7.5

$10.1

$0.31

$0.40

Slide 20

6/30/066/29/07

Sales: 
1H 2007: up 8.1% over 1H 2006 

Earnings before Income Tax:
See GAAP reconciliation (Slide 23)
for effect of one-time charges and gains in
first half 2007 and 2006

Net Earnings:
1H 2007: up 50.2% over 1H 2006
EPS - diluted:
Average diluted shares outstanding
1H 2006: 24,883; 1H 2007: 25,157

Income Statement Highlights for the First-Half Periods

For the six-month periods ended

$589.6

   $637.3

$22.2

$31.6

     $13.4

$20.1

$0.55

$0.81

Slide 21

6/30/066/29/07

These adjustments represent certain discrete items.  The Company uses certain financial measures internally to focus management on
period-to-period changes in our business. Therefore, we believe that this supplemental information is meaningful to investors when considered in
connection with the information contained in the GAAP presentation of financial information. The presentation of these items is not meant to
represent results as defined by GAAP, nor as an alternative for financial performance as determined under GAAP.

Slide 22

GAAP reconciliations applicable to the Second-Quarter Periods
 
Three Months ended June 29, 2007
            
Three Months ended June 30, 2006
            
            
(In millions)
As Reported
            
Earnings Before Income Taxes
$15.6
            
Net Earnings
$10.1
            
Net Earnings Per Share Diluted 
$0.40
            
Earnings Before Income Taxes
$12.1
            
$7.5 
Net Earnings
            
Net Earnings Per Share Diluted 
$0.31
            
            
Add:
            
 
 
 
 
 
 
            
Addition to Loss Reserve: Australia
            
2.4
            
1.4
            
0.06
            
2.8 
            
1.7 
            
0.07
            
            
Deductible and Non-Ded. Stock Appreciation Rgts.
            
0.8
            
0.6 
            
0.03 
            
 
 
 
            
Subtract:
            
 
 
 
 
 
 
            
Deductible and Non-Ded.Stock Appreciation Rgts.
            
 
 
 
(0.8)
            
(0.6)
            
(0.03)
            
            
Recovery of Recapitalization Legal Fees
            
 
 
 
(0.5)
            
(0.5)
            
(0.02)
            
            
As Adjusted
            
$18.8
            
$12.1
            
$0.49
            
$13.6 
            
$ 8.1
            
$0.33 
            
            

            
            
            
          

	Six Months ended June 29, 2007			Six Months ended June 30, 2006
(In millions)	Earnings Before Income Taxes	Net Earnings	Net Earnings Per Share Diluted	Earnings Before Income Taxes	Net Earnings	Net Earnings Per Share Diluted
As Reported	$31.6	$20.1	$0.81	$22.2	$13.4	$0.55
Add:
Addition to Loss Reserve: Australia	4.9	2.9	0.12	5.3	3.2	0.13
Deductible and Non-Ded. Stock Appreciation Rgts.	1.0	0.8	0.03	0.5	0.4	0.02
Subtract:
Gain from Capitalized Freight-Adjustment (KIT)				(1.6)	(0.9)	(0.04)
Recovery of Recapitalization Legal Fees				(0.5)	(0.5)	(0.02)
As Adjusted	$37.5	$23.8	$0.96	$25.9	$15.6	$0.64

These adjustments represent certain discrete items.  The Company uses certain financial measures internally to focus management on
period-to-period changes in our business. Therefore, we believe that this supplemental information is meaningful to investors when considered in
connection with the information contained in the GAAP presentation of financial information. The presentation of these items is not meant to
represent results as defined by GAAP, nor as an alternative for financial performance as determined under GAAP.

Slide 23

GAAP reconciliations applicable to the First-Half Periods

	Three Months Ended
	6/29/2007	6/30/2006
Corporate expense before breakout items	$(7.0)	$(6.4)
Breakout items:
Stock appreciation rights expense	(0.8)	0.8
Pension expense	(0.1)	(1.0)
Supplemental employees’ retirement plan	(1.5)	(1.4)
Group Insurance	(0.7)	(0.1)
Legal - Recapitalization	--	0.5
Corporate expense - total	$(10.1)	$(7.6)

Corporate Expense Highlights for the Second-Quarter Periods

Slide 24

	Six Months Ended
	6/29/2007	6/30/2006
Corporate expense before breakout items	$(13.3)	$(13.8)
Breakout items:
Stock appreciation rights expense	(1.0)	(0.5)
Pension expense	(0.2)	(1.7)
Supplemental employees’ retirement plan	(3.0)	(2.7)
Group Insurance	(2.0)	0.1
Legal - Recapitalization	--	0.5
Corporate expense - total	$(19.5)	$(18.1)

Corporate Expense Highlights for the First-Half Periods

Slide 25

(In millions)	Sales		Operating Income		Operating Margin
	2Q/07	2Q/06	2Q/07	2Q/06	2Q/07	2Q/06
Aerostructures	$23.3	$17.1	$3.7	$2.0	15.8%	11.7%
Fuzing	24.0	14.6	4.0	1.5	16.8%	10.1%
Helicopters	19.0	15.2	(0.2)	(1.1)	(1.3%)	(7.7%)
Specialty Bearings	31.5	27.5	10.2	8.3	32.4%	30.3%
Subtotal Aerospace	$97.8	$74.4	$17.7	$10.7	18.1%	14.3%
Industrial Distribution	174.6	170.5	8.3	9.3	4.8%	5.4%
Music	47.6	48.1	1.6	1.6	3.4%	3.4%
Corporate Expense/Other Total	$320.0	$293.0	(10.1) $17.5	(7.6) $14.0	1(3.2%) 5.5%	1(2.6%) 4.8%

1 Corporate expense percentage is to Total Sales

Three-Month Periods Ended June 29, 2007 and June 30, 2006

Slide 26

Income Statement Highlights for the Second-Quarter Periods

(In millions)	Sales		Operating Income		Operating Margin
	1H/07	1H/06	1H/07	1H/06	1H/07	1H/06
Aerostructures	$48.5	$34.0	$8.2	$4.4	17.0%	12.8%
Fuzing	42.5	33.7	6.6	4.4	15.4%	13.1%
Helicopters	36.5	26.7	(1.3)	(3.2)	(3.5%)	(12.1%)
Specialty Bearings	63.4	53.6	20.8	15.1	32.7%	28.1%
Subtotal Aerospace	$190.9	$148.0	$34.3	$20.7	18.0%	14.0%
Industrial Distribution	348.0	341.1	17.0	1 20.1	4.9%	5.9%
Music	98.4	100.5	3.2	2.9	3.3%	2.9%
Corporate Expense/Other			(19.5)	(18.0)	2 (3.1%)	2 (3.1%)
Total	$637.3	$589.6	$35.0	$25.7	5.5%	4.3%

1 Includes one-time $1.6 million gain
2 Corporate expense percentage is to Total Sales

Six-Month Periods Ended June 29, 2007 and June 30, 2006

Slide 27

Income Statement Highlights for the First-Half Periods

(In millions)	Sales		Operating Income		Operating Margin
	3Q/06	4Q/06	3Q/06	4Q/06	3Q/06	4Q/06
Aerostructures	$21.4	$23.3	$3.5	$3.7	16.1%	15.9%
Fuzing	22.3	15.1	2.4	0.9	11.0%	5.8%
Helicopters	15.4	27.8	(1.1)	4.5	(7.0%)	16.3%
Specialty Bearings	26.2	26.4	7.0	6.6	26.7%	24.8%
Subtotal Aerospace	$85.3	$92.6	$11.8	$15.7	13.8%	16.9%
Industrial Distribution	$166.8	$157.6	$8.5	6.5	5.2%	4.1%
Music	55.5	58.7	3.8	4.9	6.8%	8.3%
Corporate Expense/Other			(7.9)	(9.6)	2(2.6%)	2(3.1%)
Total	$307.6	$308.9	1$16.2	$17.5	5.3%	5.7%

1 Includes $0.1 in net loss on sales or disposal of assets in 3Q/06

2 Corporate expense percentage is to Total Sales
 

Three-Month Periods Ended September 29, 2006 and December 31, 2006

Slide 28

This slide is included to provide third and fourth quarter 2006 augmented segment detail for the four recently disaggregated aerospace industry segments 

Income Statement Highlights for the Third & Fourth Quarters of 2006

	As of 6/29/07	As of 12/31/06	As of 6/30/06
Notes Payable and Long-term Debt	$108.1	$74.4	$101.4
Shareholders’ Equity	$318.5	$296.6	$281.1
Debt as % of Total Capitalization	25.3%	20.1%	26.5%
Capital Expenditures	$6.8	$13.2	$5.0
Depreciation & Amortization	$5.7	$10.5	$5.2

Slide 29

Balance Sheet and Capital Factors

Public information is available on the Kaman website:  www.kaman.com

KAMN

KAMAN CORPORATION

Traded on NASDAQ Global Market