LOS ANGELES – Ducommun’s Electronic Systems segment posted net revenue for the third quarter of $71.6 million, down 26.6% year-over-year.

The segment’s adjusted EBITDA for the period ended Oct. 1 was $9.8 million, compared to $13.3 million for the comparable quarter in the prior year. Operating income was $6.6 million, down from $8.6 million in 2015.

Ducommun’s total third quarter revenue was $132.6 million, down 18% year-over-year.  Net income was $5 million, compared to a net loss of $9.5 million in the third quarter of 2015. Adjusted EBITDA for the third quarter was $14.9 million, or 11.2% of revenue, compared to $6.6 million, or 4.1% of revenue, for the comparable period last year. Operating income was $8.1 million, or 6.1% of revenue, compared to an operating loss of $1.2 million in the same quarter of 2015.

“The third quarter illustrated continued progress toward reaching our long-term performance goals and growth objectives,” said Anthony J. Reardon, chairman, president and CEO. “While revenue and gross margins were essentially flat sequentially compared to the second quarter, our backlog rose to $566 million, the highest ever, net of divestitures, and we’re well positioned for sales acceleration in the fourth quarter and beyond. At the same time we paid down an additional $10 million of debt, leaving us with the strongest balance sheet since our acquisition of LaBarge in 2011.”

The firm’s backlog as of Oct. 1 was $566 million, which rose $29 million sequentially primarily due to a $41 million increase in commercial aerospace.

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