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 12, 2010

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 7.01 Regulation FD Disclosure.

From time to time, members of the Company’s senior management present information about the Company to investors.  A copy of the investor presentation dated August 12, 2010 is attached as Exhibit 99.1.  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

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

Exhibit 99.1 - Investor Presentation dated August 12, 2010.

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, Chief Legal Officer and Secretary

Date: August 12, 2010

3

KAMAN CORPORATION AND SUBSIDIARIES

Index to Exhibits

Exhibit	Description
99.1	Investor Presentation dated August 12, 2010	Attached

4

EX-99.1

Kaman Corporation (NASDAQ-GS: KAMN)

Kaman Corporation (NASDAQ-GS: KAMN)

Investor Presentation

August 12, 2010

2

Distribution

56%

Aerospace

44%

2009 Sales

Distribution

14%

Aerospace

86%

2009 Segment

Operating Income*

2009 Sales $1,146 Million

4,303 Employees

Aerospace

Industrial

Distribution

NASDAQ GS: KAMN

KAMAN CORPORATION

*Operating profit after depreciation and before interest and corporate charges.

3

Source:Boeing and Airbus historical data and ISM

Aerospace Orders and Deliveries vs. ISM Index Over Time

WHY TWO BUSINESSES?

0

500

1,000

1,500

2,000

2,500

3,000

30.0

35.0

40.0

45.0

50.0

55.0

60.0

65.0

70.0

Boeing

Airbus

Boeing

Airbus

ISM index

Orders

Deliveries

4

Note: WACC assumes marginal tax rate of 35%. Assumes barra predicted beta post 2005 and Bloomberg beta pre 2005. Assumes Rf as 30 year treasury rate.

AEROSPACE - Strategic Perspective

Illustrative ROIC versus WACC Analysis Over Time| Last 10 Years

5

Source:Bloomberg, Barra, Axioma, CapitalIQ and GS Assumptions

Note: Distribution index includes Fastenal, MSC Industrial, WW Grainger, Genuine Parts, Applied Industrial Technologies, DXP, WESCO, Anixter, Watsco, and Interline.

Note: WACC assumes marginal tax rate of 35%. Assumes barra predicted beta post 2005 and Bloomberg beta pre 2005. Assumes Rf as 30 year treasury rate.

INDUSTRIAL DISTRIBUTION - Strategic Perspective

Illustrative ROIC versus WACC Analysis Over Time | Last 10 Years

6

AEROSPACE SEGMENT

2009 Sales $501 million

7

Commercial

Military

Business/Regional

28%

69%

3%

Note:Based on 2009 sales

AEROSPACE - Business Mix

8

Manufacture of cockpit

Blade erosion coating

Manufacture and assembly
of tail rotor pylon

Sub assembly and
joining of fuselage

Blade manufacture, repair
and overhaul

Driveline couplings

Bushings

Flight control bearings

Bearing products

AEROSPACE - Programs/Capabilities

9

Fixed trailing edge

Fuel tank access doors

Top covers

Bearing products

Nose landing gear

Rudder

Main landing gear

Flaps

Horizontal stabilizer

Doors

Engine/thrust reverser

Flight controls

AEROSPACE - Programs/Capabilities

10

HARPOON

FMU-139

TOMAHAWK

STANDARD
MISSILE

SLAM-ER

AMRAAM

KPP Fuzes are on a Majority of Major Weapons
Systems

STANDARD
MISSILE

JPF

SLAM-ER

TOMAHAWK

AMRAAM

MAVERICK

AGM-65M

AEROSPACE - Programs/Capabilities

11

AEROSPACE - Programs/Capabilities

§Tooling design and manufacture

12

JSF

C-17

A-10

E-2D

Typhoon

UH-60

A400

CH-47

AEROSPACE - Principal Military Platforms

Boeing NewGen Tanker

MH-92

13

AEROSPACE - Commercial Significant Platforms

Airbus A320

Boeing 777

Airbus A330

Bell Helicopter

Boeing 787

Boeing 737

Airbus A350

14

AEROSPACE - Kamatics Lean Journey

§Our Bloomfield Kamatics facility has very successfully
implemented lean manufacturing processes

§Since introducing lean in 2000 Kamatics has:

-Doubled sales

-Increased return on identifiable assets by more than 5,400
basis points

-Kept headcount constant

-Doubled sales per employee

-Increased on-time deliveries to more than 90% from less than
50%

-Developed industry leading lead-times of four to eight weeks
from twelve to eighteen weeks

§The performance of this facility has been remarkable and today
it is a world-class manufacturing operation

15

AEROSPACE - Kaman Helicopters

Kaman SH-2G Naval Helicopters

§Support and Upgrades

§Currently in service with Egypt,
New Zealand, Poland

§Remarketing eleven SH-2G(I)s,
formerly Royal Australian Navy aircraft

16

Kaman K-MAX®

§K-MAX Commercial Helicopter
Support

§Teamed with Lockheed Martin to
develop an unmanned military version
of the K-MAX

§Successfully demonstrated unmanned
K-MAX to the U.S. Marine Corps in
January 2010

AEROSPACE - Kaman Helicopters

17

-SH-2G(I)

-Unmanned K-MAX

AEROSPACE - Market Environment/Opportunities

§Existing funded programs

-C-17

-JPF

-BLACK HAWK

§Production ramp up

-A-10 re-wing

-Bell Helicopters

-B787

-JSF

-A380

§New programs/opportunities

-JSF STOVL lift fan application

-AW 169

-Sukhoi Superjet 100

§Continuation of outsourcing trend - primes and super tier 1’s

§Acquisitions providing complementary capabilities and platforms

18

INDUSTRIAL DISTRIBUTION SEGMENT

2009 Sales $645 million

19

INDUSTRIAL DISTRIBUTION SEGMENT

§Third largest industrial distribution firm serving $15 billion of a $23 billion power
transmission / motion control market.

§207 branches and 5 distribution centers

§Major product categories:

-Bearings

-Mechanical and electrical power transmission

-Fluid Power

-Motion control

-Automation

-Material handling

§Statistics

-$371,000 sales per employee (2009)

-2,000 employees (approximately one third outside sales)

-3.5 million SKUs

-50,000+ customers

20

INDUSTRIAL DISTRIBUTION SEGMENT

A

A

A

Minarik

21

INDUSTRIAL DISTRIBUTION SEGMENT - Key Suppliers

22

INDUSTRIAL DISTRIBUTION - Market Environment/Outlook

§Strong organic growth

-Q210 up 17.5%

-OEM markets extremely strong

-MRO markets turned positive in Q2

-Broad based growth across geographies and end markets

§Acquisitions accelerating growth

-Added $27 million in sales in Q210

-Added geographic coverage, product line expansions, strong franchises

-Acquisitions expected to add $90 to $95 million in 2010

-Minarik acquisition was accretive in Q210

§Expect record sales in 2010 of $800 million to $815 million

23

SALES PER DAY - $(000)

24

SALES PER DAY GROWTH RATE

25

INDUSTRIAL DISTRIBUTION - Opportunities

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

-Product line additions from vendors such as:

•ASCO/Numatics

•Sheffer Corporation

•GEM® Steam Trap

•Bison Gear

-Launched ReliaMark brand of bearings,

roller chains, oil seals, and shaft collars

§Recognize sales and cost synergies from the three
acquisitions completed in 2010

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

26

§Minarik is a national distributor of motion control and automation products

§2009 Sales - $84 million

Vision SystemsMotors & Gear MotorsActuators

AC & DC DrivesServo MotorsSafety

& Controls

ACQUISITIONS - Minarik

27

§Minarik has 16 stocking distributor locations and 3 Minarik Applied Products
and Systems Centers (MAPS Centers) locations and approx. 215 employees

§Expands KIT’s geographic coverage in key markets

§Adds branch locations in 3 of the top 15 markets where KIT has not been
well represented (San Jose, Cleveland, Chicago)

ACQUISITIONS - Minarik

28

§Expands KIT’s product offering

§Positions Kaman as an industry leader in US motion control and automation
markets

§Diversifies traditional MRO customer base through primary OEM presence

§Organizational and cultural fit:

-Minarik will substantially strengthen KIT’s Automation Specialist group

-Minarik is realigning organization in a similar manner as KIT

ACQUISITIONS - Minarik

29

ACQUISITIONS

Business Overview

•Bearing & power transmission dist.

•Headquartered in Tulsa, OK

(October 31)200720082009

Sales$28 MM$30 MM$22 MM

•8 branches located in Oklahoma, Arkansas

and Texas; 70+ employees

Strategic Rationale

•Geographic penetration

•Adds volume in our core product lines

•Provides access to chemical and petro-

chemical industries and oil and gas

industries

Transaction Summary

•Transaction closed April 5, 2010

•Purchase price $15MM

Strengths

•Product knowledge in our core bearing

and power transmission product lines

•Vendor authorizations with premier

brands

§Allied Bearings Supply, Co., Inc.

30

§Fawick De Mexico

Business Overview

•Mexico City based fluid power distributor

•Headquartered in same building complex

as Kaman’s Delamac business

$ Pesos MM20082009

Sales$43 MM$50 MM

Exchange Rate: 13.4 Pesos / US $

Strategic Rationale

•Adds fluid power to Delamac’s product

offering

•Adds higher margin product lines to

improve overall profitability of Delamac

•Adds exclusive franchises for Mexico

Transaction Summary

•Closed transaction 2/26/10

•Purchase price $4.4MM

Strengths

•Knowledge in fluid power product

applications

•Sales force covers almost all of Mexico

ACQUISITIONS

31

SUMMARY

32

2010 OUTLOOK UPDATE

Aerospace segment

§We expect full year sales of $480 million to $490 million

§We expect the full year operating margin to be between 14.0% and 14.5%

Industrial Distribution segment

§We expect full year organic sales growth to be up 10% to 13% as compared to
2009

§Including completed acquisitions we expect full year sales to be in a range of
$800 million to $815 million

§We expect operating margins for the full year of approximately 3.0% to 3.3%

Other

§We expect corporate expenses, on average, to be in a range of $9.0 million to
$10.0 million per quarter

§We expect full year interest expense to be approximately $9.6 million (net interest
expense will be approximately $3.0 million as a result of a one-time interest
benefit)

33

KAMAN CORPORATION - Summary

§High margin aerospace business led by specialty bearing product lines

§Industrial distribution business gaining market share in a fragmented
market via national account growth, geographic and product line
expansion

§Long-term organic growth opportunities in both segments

§Potential to further accelerate growth and increase scale through
additional acquisitions

§Initiatives to optimize profit, increase cash flow generation, strengthen
competitive position

§Strong balance sheet to fund growth and strategic initiatives

34

APPENDIX

44%

2009 Sales $1,146 million

35

1 Corporate expense percentage is to Total Sales

(In thousands) SEGMENTS	Net Sales		Operating Income/(Loss)		Operating Margin
	Q2 2010	Q2 2009	Q2 2010	Q2 2009	Q2 2010	Q2 2009
Industrial Distribution	$210,924	$155,954	$7,713	$3,065	3.7%	2.0%
Aerospace	106,163	137,269	12,114	21,600	11.4%	15.7%
Net gain/(loss) on sale of assets			(56)	(53)
Corporate expense			(8,581)	(8,445)	1 (2.7%)	1(2.9%)
Sales/Op. inc. from continuing ops	$317,087	$293,223	$11,190	$16,167	3.5%	5.5%

INCOME STATEMENT HIGHLIGHTS
For the quarters ended July 2, 2010 and July 3, 2009

36

1 Corporate expense percentage is to Total Sales

(In thousands) SEGMENTS	Net Sales		Operating Income/(Loss)		Operating Margin
	2009	2008	2009	2008	2009	2008
Industrial Distribution	$645,535	$776,970	$12,612	$35,397	2.0%	4.6%
Aerospace	500,696	476,625	74,996	61,608	15.0%	12.9%
Net gain/(loss) on sale of assets			(4)	221
Corporate expense			(33,662)	(31,960)	1 (2.9%)	1(2.5%)
Sales/Op. inc. from continuing ops	$1,146,231	$1,253,595	$53,942	$65,266	4.7%	5.2%

INCOME STATEMENT HIGHLIGHTS
For the years ended December 31

37

(In Millions)	As of 07/02/10	As of 12/31/09	As of 12/31/08
Cash and Cash Equivalents	$7.1	$18.0	$8.2
Notes Payable and Long-term Debt	$103.3	$63.6	$94.2
Shareholders’ Equity	$334.5	$312.9	$274.3
Debt as % of Total Capitalization	23.6%	16.9%	25.6%
Capital Expenditures	$8.11	$13.6	$16.0
Depreciation & Amortization	$9.51	$16.1	$12.8

BALANCE SHEET AND CAPITAL FACTORS

1YTD at 7/2/10

38

Sales

EPS

PERFORMANCE METRICS

39

PENSION PLANS

40

Bloomfield, CT

700,000 sq ft

•Mechanical

•Composites

•Large Assembly

Wichita, KS

168,000 sq ft

•Composites

•Structural

Bondments

•Composite

Assemblies

Jacksonville, FL

220,000 sq ft

•Fabrication-

ØMachining

ØSheet Metal Form

ØExtrusion

•Assembly

ØMajor Subs

ØFinal Structure

•Product Integration

Darwen, UK

208,000 sq ft

•Composites

•Metal Fabrication

•Tooling

•Assembly

AEROSPACE - Primary Facilities

•Helicopter assembly

and test facilities

•Bearing manufacturing

41

Manchester, UK

63,000 sq ft

•Aerospace
manufacturing
facility

Orlando, FL

90,000 sq ft

•Bomb safe and
arming device
manufacturing
facility

80 acre test range

Middletown, CT

202,000 sq ft

•Manufacturing facility

•Missile safe and
arming devices

•Bomb safe and
arming devices

•Ruggedized
memory
products

•Measuring
products

Dachsbach, Germany

30,000 sq ft

•Manufacturing facility

•Spherical
bearings

•Ball bearings

•Rod ends

•Bushings

•Specialty
components

AEROSPACE - Primary Facilities

42

FORWARD-LOOKING STATEMENTS

This presentation contains 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) potential difficulties associated
with variable acceptance test results, given sensitive production materials and extreme test parameters; 7) management's success in
increasing the volume of profitable work at the Aerospace Wichita facility;8) successful negotiation of the Sikorsky Canadian MH-92
program price; 9) successful resale of the SH-2G(I) aircraft, equipment and spare parts; 10) 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; 11) satisfactory resolution of the company’s litigation relating
to the FMU-143 program; 12) continued support of the existing K-MAX helicopter fleet, including sale of existing K-MAX spare parts
inventory; 13) cost estimates associated with environmental remediation activities at the Bloomfield, Moosup and New Hartford, CT
facilities and our U.K. facilities; 14) profitable integration of acquired businesses into the company's operations; 15) changes in supplier
sales or vendor incentive policies; 16) the effects of price increases or decreases; 17) the effects of pension regulations, pension plan
assumptions and future contributions; 18) future levels of indebtedness and capital expenditures; 19) continued availability of raw
materials and other commodities in adequate supplies and the effect of increased costs for such items; 20) the effects of currency
exchange rates and foreign competition on future operations; 21) changes in laws and regulations, taxes, interest rates, inflation rates and
general business conditions; 22) future repurchases and/or issuances of common stock; and 23) 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 Remington

V.P., Investor Relations

(860) 243-6334

Eric.Remington@kaman.com