Ducommun Posts Strong Q2

0

Ducommun Inc. said Monday that its second-quarter profit jumped 28 percent thanks to strong product sales.


For the quarter ended June 28, net income rose to $5.8 million (55 cents per share), up from $4.6 million (44 cents) in the same period a year earlier. The results beat Wall Street’s expectations of 51 cents per share, according to Thomson Financial.


Revenue for the defense contractor, which is Los Angeles’ oldest company, climbed 13 percent to $103 million also besting analysts’ predictions of $101 million.


Product sales, which make up the bulk of the company’s overall revenue, rose 16 percent. The company said both military and commercial sales were strong.


Shares in Ducommun were down 7.1 percent to $27.66 in early trading Monday.

No posts to display