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): June 3, 2009

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))

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Item 7.01                      Regulation FD Disclosure.

From time to time, members of Kaman’s senior management present information about Kaman to investors.  A copy of the investor presentation dated June 3, 2009 is attached as Exhibit 99.1 and is incorporated by reference herein.  Such material may be presented to investors in the future.

The information in this Item 7.01, including Exhibit 99.1, is being furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section and shall not be deemed incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

Item 9.01  Financial Statements and Exhibits.

(c) Exhibits.

Exhibit 99.1 Investor Presentation dated June 3, 2009.  

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/ Candace A. Clark
	Candace A. Clark
	Senior Vice President and
	Chief Legal Officer

Date: June 3, 2009

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KAMAN CORPORATION AND SUBSIDIARIES

Index to Exhibits

Exhibit 99.1 Investor Presentation dated June 3, 2009.

4

EX-99.1

Kaman Corporation (NASDAQ-GS: KAMN)

Kaman Corporation (NASDAQ-GS: KAMN)

KeyBanc Capital Markets

Industrial, Automotive and Transportation Conference

June 3, 2009

Slide 2

RECENT SIGNIFICANT EVENTS

üSeptember 2007 - Neal Keating joined Kaman as President under a planned
succession (assumed Chairman and CEO titles during 2008)

üDecember 2007 - Sold Music segment to Fender focusing the company on its core
industrial distribution and aerospace businesses

üMarch 2008 - Reached settlement with Commonwealth of Australia, resolving
helicopter program

üJune 2008 - Acquired Brookhouse Holdings Limited (UK) establishing a European
footprint in Aerostructures and diversify customer and platform base

ü 2008 - Completed first acquisitions in industrial distribution since 2003

MANAGEMENT TRANSITION (Previous Experience)

Slide 3

üNeal Keating, Chairman, President and CEO

(Hughes Supply, GKN Aerospace, Rockwell Collins, Rockwell Automation)

üGreg Steiner, President, Kaman Aerospace Group

(GE Aviation/Smiths, Curtis-Wright, Rockwell Collins, Texas Instruments)

üBill Denninger, Senior Vice President and CFO

(Barnes Group, BTR Plc, ITT Corporation)

üPhil Goodrich, Vice President Business Development

(Barnes Group, Ametek, General Signal, Seagram, Philip Morris)

üRob Starr, Vice President and Treasurer

(Crane Co., Aetna, Fisher Scientific Int’l, Salomon Smith Barney, Chase

Securities)

Distribution:

Industrial Distribution

2008 SALES $1.25 BILLION

2008 Sales $777 million

INDUSTRIAL DISTRIBUTION SEGMENT

Slide 6

INDUSTRIAL DISTRIBUTION SEGMENT

Third largest industrial distribution firm in $20 billion power transmission
market.

Strategy:

♦Expand our geographic footprint in major industrial markets to enhance our
position in the competition for national and regional accounts

♦Broaden our product offerings to gain additional business from existing
customers and new opportunities from a wider slice of the market

Customers:

♦Broad cross section of industry with more than 50,000 customers served from
local branches in 72 of the top 100 U.S. Industrial markets.Growing national
account base.

Slide 7

ACQUISITIONS:Strategic Fit

§Support corporate strategy of accelerating growth of KIT

§Add additional product lines to our portfolio

§Increase our capability to service national and regional customers

§Add proven management teams and dedicated employees

§Industrial Supply Corporation, Richmond, VA, acquired March 31, 2008

•Adds $55 million in annual sales

•Increases Kaman’s presence in Virginia and North Carolina markets

§INRUMEC, Gurabo, Puerto Rico, Acquired October 3, 2008

•Adds $13 million in annual sales from four branches in Puerto Rico

•Provides a presence for Kaman in the important Puerto Rico market while avoiding the
costs and time of building a greenfield operation to support national account growth

KIT Branch Location

Distribution Center

ISC Branch Location

INRUMEC Location

Slide 8

KAMAN INDUSTRIAL TECHNOLOGIES LOCATIONS

Slide 9

INDUSTRIAL DISTRIBUTION SEGMENT

AEROSPACE SEGMENT:

FOUR AEROSPACE BUSINESSES

2008 Sales $477 million

Slide 11

SPECIALTY BEARINGS DIVISION:
Bloomfield, CT and Dachsbach, Germany

Designs and manufactures proprietary self-lubricating
airframe bearings

Programs:

♦Kaman products are used in nearly all military and
commercial aircraft

Strategy:

♦Continue to be the leading high performance specialty
bearing company in the world by maintaining superior
productperformance through technology enhancement,
application engineering expertise and continued lean
manufacturing excellence

Business Mix (approximate):

♦Commercial 75%, Military 25%

♦OEM 60%, After-Market 40%

Slide 12

SPECIALTY BEARINGS:Lean Journey

Slide 13

PRECISION PRODUCTS DIVISION:

Middletown, CT & Orlando, FL

Fuzing Segment:Middletown, CT and Orlando, FL

Manufactures safe, arm and fuzing devices for major missile and
bomb programs.

♦Principal Missile programs: AMRAAM, ATACMS,
Harpoon, Maverick, Standard and Tactical Tomahawk

♦Principal Bomb program: Joint Programmable Fuze

♦Division includes Measuring & Memory systems products.

Strategy:

♦Become the established leader in bomb and missile fuzes,
specialized memory products, precision measuring devices and
electro-optic sensor systems for military and commercial
applications

Principal customers:

♦U.S. and allied militaries, Boeing General Dynamics, Lockheed
and Raytheon.

Business Mix:

♦Military 97%, Commercial 3%

Slide 14

HELICOPTERS DIVISION: Bloomfield, CT

Helicopters Segment:Bloomfield, CT

Full service helicopter subcontractor.Supports legacy SH-2G
Super Seasprite and K-MAX “Aerial Truck” helicopters.

Principal programs:

♦Major maintenance and upgrades to Egyptian SH-2G(E)

♦BLACK HAWK subcontract for Sikorsky

♦Remarketing eleven SH-2G (I) helicopters

Strategy:

♦Leverage systems knowledge and lean manufacturing to
take advantage of emerging assembly/subcontracting and
after-market/retrofit opportunities as helicopter prime
manufacturers focus on system design, integration, and
final assembly

Principal customers:

♦ ♦The governments of Egypt, New Zealand and Poland;
Sikorsky and MDHI

Business Mix:

♦Military 80%, Commercial 20%

Slide 15

AEROSTRUCTURES DIVISION:
Jacksonville, FL;Wichita, KS; and Manchester, UK

Produces parts and subassemblies for Tier 1 and Prime
Manufacturers; designs and builds mold and assembly tooling;
and provides after-market support for UK MoD platforms

♦Military: Boeing C-17, Sikorsky BLACK HAWK helicopter,
Sikorsky MH-92 helicopter, Joint Strike Fighter (JSF), A-400M,
A-10

♦Commercial: Boeing 777 and 767, A330/340, new large wide-
body program

Strategy:

♦Expand our global market position as a supplier of complex,
composite and metallic structures and integrated subsystems
for military and commercial aircraft

Business Mix:

♦Military 73%, Commercial 27%

Slide 16

Talented, committed employees -Proven management team

BROOKHOUSE HOLDINGS, LTD.:Strategic Fit

§Acquired June 2008, $55 million in annual sales

§Accelerates growth and increases scale in Aerostructures market

§Enhances our composite capabilities - RFI technology provides differentiator

§Balanced portfolio of platforms and mix of business

• 47% Commercial, 53% Military

• 66% OEM, 34% Repair and Overhaul

§Adds a world class tooling capability to Kaman’s portfolio

§Provides entry into higher margin aftermarket services business

Slide 17

Complementary platform positions - improves diversification

AEROSTRUCTURES:Platforms

AEROSTRUCTURES WICHITA UPDATE

Slide 18

■ Recovery Actions

r Installed new leadership

r Invested in people, tooling, and equipment to rebuild infrastructure

r Holding monthly operating reviews on-site and tracking key operating metrics to
ensure progress

■ Results

r Resumed production for major customer

r AS9100 certification reinstituted

r NADCAP audit successfully completed in Q109

r Targeting break-even results late 2009/early 2010

§Aerostructures - - Follow through on significant new business

opportunities (e.g. JSF, C-27J)

§Precision Products - Win sole source award with improved pricing on
JPF USG sales under options 6, 7 and 8

§Industrial Distribution - Optimize profitability in downturn, and capitalize on
acquisition opportunities for regional/local competitors

§Company-wide - - achieve $35M To $40M free cash flow

Slide 19

§Helicopters - - Comprehensive marketing program for eleven SH-2G(I) aircraft,

significant P&L upside potential

§Specialty Bearings - Maintain profit margin in light of slowing commercial

aerospace market

2009 KEY INITIATIVES

(In Millions)	As of 4/3/09	As of 12/31/08	As of 12/31/07
1.Cash and Cash Equivalents	11.0	$8.2	$73.9
2.Notes Payable and Long-term Debt	106.7	$94.2	$12.9
3.Shareholders’ Equity	276.9	$274.3	$394.5
4.Debt as % of Total Capitalization	27.8%	25.6%	3.2%
5.Capital Expenditures (YTD Continuing Operations)	2.2	$16.0	$14.2
6.Depreciation & Amortization (YTD Continuing Operations)	3.8	$12.8	$9.9

BALANCE SHEET AND CAPITAL FACTORS

Slide 20

Slide 21

Forward-Looking Statements

Forward-looking Statements

This presentation may contain forward-looking information relating to the company's business and prospects, including the Aerospace and
Industrial Distribution 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 the defense, commercial aviation and industrial production markets; 5) risks associated with successful
implementation and ramp up of significant new programs; 6) management's success in resolving operational issues at the Aerostructures
Wichita facility; 7) successful negotiation of the Sikorsky Canadian MH-92program; 8) successful resale of the aircraft, equipment and spare
parts obtained in connection with the AustraliaSH-2G (A) program termination;9) receipt and successful execution of production orders for
the JPF U.S. government contract, including the exercise of all contract options, successful negotiation of price increases with the U.S.
government, and receipt of orders from allied militaries, as all have been assumed in connection with goodwill impairment evaluations; 10)
satisfactory resolution of the company’s litigation with the U.S. Army procurement agency relating to the FMU-143 program; 11) continued
support of the existing K-MAX helicopter fleet, including sale of existing K-MAX spare parts inventory; 12) cost growth in connection with
environmental remediation activities at the Bloomfield, Moosup and New Hartford, CT facilities and our recently acquired Brookhouse facilities;
13) profitable integration of acquired businesses into the company's operations; 14) changes in supplier sales or vendor incentive policies; 15)
the effects 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 and other commodities in adequate supplies and the effect of increased costs
therefor; 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;21) future repurchases and/or issuances of common stock; and
22) 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 presentation should be considered with these factors in mind. The company assumes no obligation to update any
forward-looking statements contained in this presentation.

Contact:
Eric B. Remington, Vice President
(860) 243-6334
Eric.Remington@kaman.com

APPENDIX

38%

2008 Sales $1.25 billion

Slide A-1

1 Corporate expense percentage is to Total Sales

(In thousands) SEGMENTS	Net Sales		Operating Income/(Loss)		Operating Margin
	Q1 2009	Q1 2008	Q1 2009	Q1 2008	Q1 2009	Q1 2008
1.Industrial Distribution	$176,906	$182,165	$2,779	$9,073	1.6%	5.0%
AEROSPACE 2.Specialty Bearings	35,767	36,079	11,912	12,968	33.3%	35.9%
3.Precision Products	20,686	24,130	253	1,805	1.2%	7.5%
4.Helicopters	16,364	14,614	1,672	858	10.2%	5.9%
5.Aerostructures	44,312	28,793	1,460	(1,015)	3.3%	(3.5%)
6.Subtotal Aerospace	117,129	103,616	15,297	14,616	13.1%	14.1%
7.Net gain/(loss) on sale of assets			93	(110)
8.Corporate expense			(8,766)	(9,796)	1 (3.0%)	1(3.4%)
9.Sales/Op. inc. from continuing ops	$294,035	$285,781	$9,403	$13,783	3.2%	4.8%

Slide A-2

INCOME STATEMENT HIGHLIGHTS
For quarters ended April 3, 2009 and March 28, 2008

1 Corporate expense percentage is to Total Sales

(In thousands) SEGMENTS	Net Sales		Operating Income/(Loss)		Operating Margin
	2008	2007	2008	2007	2008	2007
1.Industrial Distribution	$776,970	$700,174	$35,397	$33,038	4.6%	4.7%
AEROSPACE 2.Specialty Bearings	141,540	124,009	50,168	41,387	35.4%	33.4%
3.Precision Products	118,009	87,455	7,299	10,546	6.2%	12.1%
4.Helicopters	69,435	72,031	10,066	2,631	14.5%	3.7%
5.Aerostructures	147,641	102,362	(5,925)	13,219	(4.0%)	12.9%
6.Subtotal Aerospace	476,625	385,857	61,608	67,783	12.9%	17.6%
7.Net gain/(loss) on sale of assets			221	2,579
8.Corporate expense			(31,960)	(38,672)	1 (2.5%)	1(3.6%)
9.Sales/Op. inc. from continuing ops	$1,253,595	$1,086,031	$65,266	$64,728	5.2%	6.0%

Slide A-3

INCOME STATEMENT HIGHLIGHTS
For years ended December 31, 2008 and 2007