SANTA ANA, CA -- Ducommun's Electronic Systems segment saw second quarter net revenue climb to $109.7 million, versus $102.8 million for the second quarter of 2021.
Electronic Systems segment operating income for the quarter ended July 2 was $13.6 million, or 12.4% of revenue, compared to $14.4 million, or 14% of revenue, in 2021. The year-over-year decrease of $800,000 was primarily due to unfavorable product mix, partially offset by favorable manufacturing volume.
The company's overall second quarter net income of $4.1 million on net revenue of $174.2 million. Revenue was up 8.7% from last year and topped $170 million for the first time since the onset of the pandemic in March 2020.
Net income fell from $8.4 million in 2021 on lower gross profit of $2.1 million and higher restructuring charges of $3.2 million, of which $500,000 was included in cost of sales. Adjusted net income was $9.3 million.
Adjusted EBITDA was $24.1 million. Backlogs reached a record $976 million.
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