Kaman Has Segment Schizophrenia

Jun.20.07 | About: Kaman Corporation (KAMN)

Interesting restatement coming up for Kaman Corporation (NASDAQ:KAMN): seems they’ll be breaking their Aerospace segment into four more segments.

They’ll be treating that single cluster of activity as the new Aerostructures segment, the Fuzing segment, the Helicopters segment and the Specialty Bearings segment, beginning in their second quarter of 2007.

They’ll restate their most recent 10-Q and their 2006 10-K, too, according to the nonreliance 8-K issued yesterday.

Apparently, the SEC commented on their lack of compartmentalization of the smaller segments. The strange thing is that the company had discussed the smaller-scope segments in their Management’s Discussion & Analyses - but presented them in aggregate form in the segment information. That’s like asking for the SEC to comment on the proper level of disaggregation.