LOS ANGELES – Ducommun reported third-quarter net sales of $181.3 million, down 1.5% year-over-year.

The slight revenue decline reflects lower sales within the firm’s non-aerospace and defense end markets, partially offset by an increase in revenue across other end markets, the firm says.

Net income for the period ended Sept. 28 was $4.6 million, down 9.8% year-over-year.

Operating income for the third quarter was $12 million, or 6.6% of revenue, compared to $14.2 million, or 7.7% of revenue, in the comparable period last year.

The firm’s backlog at the end of the third quarter was $609 million.

The company’s aeroStructures segment reported net sales for the quarter of $77.7 million, up 1.3% compared to the same period last year. Revenue increased primarily due to higher sales of large commercial aircraft products and military aircraft products, partially offset by lower sales of commercial helicopter products, Ducommun says.

EBITDA for the segment was $10.3 million for the quarter, or 13.2% of revenue, compared to $10.3 million, or 13.5% of revenue, for the comparable quarter in the prior year. DAS segment operating income was $7.6 million, or 9.8% of revenue, compared to $7.4 million, or 9.7% of revenue, in the third quarter of 2012.

The company’s LaBarge Technologies segment reported net sales of $103.5 million for the quarter, down 3.6% year-over-year.
The year-over-year decline reflects a 24.7% decrease in non-A&D revenue, partially offset by an 8.9% increase in defense electronics and commercial aerospace revenue.

The segment’s EBITDA was $12.1 million in the quarter, or 11.7% of revenue, compared to $15.2 million, or 14.1% of revenue, in the comparable quarter of the prior year. Operating income was $7.6 million, or 7.3% of revenue, compared to $10.5 million, or 9.7% of revenue, in the 2012 third quarter.

Total net sales for the first nine months of 2013 were $548.7 million, down 0.8% year-over-year. Revenue declined as a result of a 27.5% decrease in non-A&D end markets, partially offset by 7.3% growth in defense technologies, defense structures and commercial aerospace products, the firm says.

Net income for the first nine months was $13.8 million, up 6.2% year-over-year.

Adjusted EBITDA for the first nine months of 2013 was $58.7 million, or 10.7% of revenue, compared to $62.3 million, or 11.3% of revenue, for the comparable period last year.

Operating income for the first nine months was $37.3 million, or 6.8% of revenue, compared to $40.1 million, or 7.3% of revenue, for the comparable period last year.

The firm’s DAS segment reported net sales for the first nine months of $234.4 million, up nearly 3% year-over-year. The increase is primarily attributable to higher sales of large commercial aircraft products, partially offset by lower sales of commercial helicopter products, the company says.

EBITDA was $31.2 million for first nine months, or 13.3% of revenue, compared to $28.8 million, or 12.6% of revenue, for the prior-year period. DAS segment operating income was $23.8 million, or 10.1% of revenue, compared to $21.6 million, or 9.5% of revenue, in the same period of 2012.

The company’s DLT segment reported net sales for the first nine months of 2013 of $314.2 million, down 3.4% from the prior-year period. The lower revenue reflects a 27.5% decline in the segment’s non-A&D sales, partially offset by a 12.3% increase in the segment’s defense electronics and commercial aerospace revenue.

EBITDA was $40.6 million, or 12.9% of revenue, compared to $43.4 million, or 13.3% of revenue, in the prior-year period. DLT operating income was $26.8 million, or 8.5% of revenue, compared to $29.3 million, or 9% of revenue, in the comparable period of 2012.

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