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Lawsuits filed against Kaydon Corp.'s former parent company Keene Corp. are haunting Kaydon and tempering its second-quarter earnings. Still, Wall Street is maintaining a positive outlook.
Ann Arbor-based Kaydon (NYSE: KDN) makes bearings, filtration products and seals for industrial machinery and construction, aerospace, defense, medical and electronics companies.
Kaydon reported net income of $5.61 million or 19 cents a share on revenue of $86.07 million for the second quarter of 2000. The company's net income for the same period last year was $15.9 million or 50 cents a share on revenue...