Ducommun Profit Beats Expectations

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Aircraft parts maker Ducommun Inc. on Monday said a 10 percent increase in sales boosted its third quarter profit above analyst estimates.

The Los Angeles aerospace parts maker reported net income of $6.2 million (59 cents a share), compared with $6.3 million (59 cents) a year ago.

Revenue rose 9 percent to nearly $110 million, boosted by the company’s acquisition of DynaBil Industries Inc., which contributed $11.1 million in the quarter. The company also has new orders for components for a Northrop Grumman unmanned combat air vehicle, and for Boeing C-17 aircraft and radar system upgrades.

Analysts surveyed by Thomson Reuters on average were expecting net income of 52 cents a share on revenue of $111 million.

“Despite a difficult commercial aerospace market, tight control of operating expenses allowed us to maintain our profit margins in the quarter,” Chief Executive Joseph C. Berenato said in a statement. “As a result, we were able to continue to make substantial investments in new programs without sacrificing current profitability.”

Shares were up 84 cents, or 5 percent, to $17.86 in midday trading on the New York Stock Exchange.

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