Ducommun Posts Q4 Net Sales Up 3% YoY PDF Print E-mail
Written by Chelsey Drysdale   
Monday, 04 March 2013 17:48

LOS ANGELESDucommun today reported fourth-quarter 2012 net sales of $193.9 million, up 3% year-over-year.

The higher revenue was the result of increased sales of military helicopter, military fixed wing and large commercial aircraft products, partially offset by lower sales of products in non-aerospace and defense markets, the firm says.

Net income was $3.4 million, compared to a net loss of $48.5 million in the fourth quarter of 2011.

“…we pre-paid $25 million of our term loan last year and expect to pre-pay a similar amount in 2013,” said Anthony J. Reardon, chairman, president and CEO.

Operating income for the period was $14.7 million, or 7.6% of revenue, compared to a loss of $45.4 million, or 24.1% of revenue, in the comparable period last year.

The company's DAS segment reported net sales of $82.2 million, up 19% year-over-year. The higher revenue was the result of increased sales of military helicopter and large commercial aircraft products.

The firm’s DLT segment net sales were $111.7 million, down 6% compared to the year-ago quarter. The lower revenue was primarily the result of a 30% decrease in sales of products in the non-aerospace and defense markets, partially offset by a 9% increase in sales of military-technology products, the firm says.

Net sales for 2012 increased 29% to $747 million compared to 2011. The higher revenue was primarily the result of the full-year impact from the June 2011 acquisition of LaBarge. Revenue attributable to LaBarge in 2012 and 2011 was $324.2 million and $175.4 million, respectively.

Net income for the year was $16.4 million, up 10% year-over-year.

DAS reported net sales of $310 million in 2012, up 6% from 2011. DLT segment net sales were $437.1 million for the year, up 52%.



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