LOS ANGELES – Ducommun reported second-quarter net sales ended June 30 of $184.7 million, up 71% year-over-year, including $80.3 million from the acquisition of LaBarge.
The printed circuit board assembler reported net income of $5.5 million, compared to a net loss of nearly $3 million in the second quarter of 2011.
“Ducommun saw additional momentum this quarter driven by stronger operational performance, margin gains at Ducommun LaBarge Technologies and commercial aircraft demand,” said Anthony J. Reardon, chairman, president and chief executive, adding that backlog remain at near record levels.
Adjusted EBITDA for the second quarter of 2012 increased to $21.3 million, or 11.6% of revenues, compared with $11.1 million, or 10.3% of revenues, for the comparable period last year.
DLT, the company's EMS segment, reported net sales of $107.8 million, up 242% year-over-year, reflecting the acquisition of LaBarge.
The DAS segment reported net sales of $76.9 million, compared with $76.6 million in the prior-year period. The segment realized higher sales of large commercial aircraft and military helicopter products, somewhat offset by lower sales of regional aircraft and military fixed wing products, the firm says.
Overall sales for the first six months of 2012 increased 78% to $369 million compared to the first six months of 2011. The company reported net income of $7.9 million for the first six months of 2012, down 9.2% year-over-year.