Shares in Ducommon Gain After Strong 4Q

0

Shares in Ducommon Inc. gained more than 6 percent after the company reported double-digit growth in profits and revenues.


Ducommon Inc. reported fourth quarter net income of $4.3 million (41 cents per share), a 23 percent increase from $3.5 million (34 cents) for the same period a year earlier, helped by tax credits from research and development projects, the company said.


Revenues for the Carson-based defense contractor were also up 44 percent to $87.8 million mainly due to the acquisitions of Miltec, WiseWave, and CMP Display systems in 2006.


For the full year, net income was down 10 percent to $14.3 million ($1.39) while sales surged 28 percent to $319 million.


The company credited better-than-expected growth in its AeroStructures and Ducommon Technologies divisions for some of the growth but warned that it will be difficult to keep up double-digit growth in sales for the coming year.


Shares in Ducommon were up 6 percent ($1.59) to $26.29 in afternoon trading.

No posts to display