Shares in Ducommun Inc. dropped more than 3 percent Monday despite the company reporting strong profits and sales.

Ducommun reported first quarter net income of $3.8 million (37 cents per share), a 40 percent jump from $2.7 million (27 cents) for the same period a year earlier, helped by strong commercial sales and a lower tax rate, the company said.

Revenues for the Carson-based defense contractor were also up 21 percent to $82 million.

Shares in Ducommun were down 99 cents, or 3.1 percent, to $30.80 in afternoon trading Monday on the New York Stock Exchange.