SANTA ANA, CA – Ducommun reported second quarter net revenue at its Electronic Systems unit was $81.8 million, up 12.5% year-over-year.

Electronic Systems’ operating income was $8.8 million, or 10.8% of revenue, compared to $6.8 million, or 9.3% of revenue, for the comparable quarter in 2016.

The firm’s total revenue for the quarter was $140.9 million, up 5.6% year-over-year. Results were attributed to $17.6 million higher revenue in military and space end-use markets; $7.7 million lower revenue in commercial aerospace end-use markets, and $2.4 million lower revenue in industrial end-use markets.

For the quarter ended Jul. 1, total net income was $3.8 million, a decrease of 2.6% compared to the same period in 2016. Operating income was $6.5 million, or 4.6% of revenue, compared to $7.3 million, or 5.4% of revenue, in the comparable period last year.

“The Ducommun team has made a concerted effort to significantly improve performance to our customers and set the stage for future growth, along with long-term margin expansion,” said Stephen G. Oswald, president and CEO. “While further steps are clearly needed to take Ducommun to where I know it can go, I’m pleased with the revenue growth this quarter – both sequentially and year-over-year – as well as our robust backlog of $611 million, which now includes $337 million of commercial aerospace bookings. At the same time, the company invested $9 million in the business during the quarter, primarily in our titanium centers of excellence, which will serve future requirements for Boeing, Airbus and Gulfstream.”

During the second quarter, the company generated $3 million of cash flow from operations compared to $6.6 million during the second quarter of 2016. The firm’s backlog as of July 1 was $611 million, compared to $581 million as of April 1.

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