Costa Mesa-based aerospace company Ducommun reported third-quarter revenue of $227 million, an increase of 6% over the same period a year earlier but slightly below analysts’ estimates.
Adjusted net income was $18.8 million, or $1.21 per diluted share.
CEO Stephen Oswald said in today’s earnings release that “defense bookings were very strong during the quarter.”
“Significant growth across our commercial aerospace business highlighted by the single-aisle aircraft platforms, Boeing 737 MAX and the Airbus A320 drove the 28% year-over-year increase, wonderful news and now nearing a $100 million quarterly run rate,” Oswald added.
Shares in the company closed down 15% at $132.50 apiece after an intraday market cap of $2 billion as markets plunged following the Tuesday elections.
For further details, see the Nov. 16 edition of the Business Journal.
