Ducommun earnings fall as it looks to replace C-17 work
Oct 30, 2013 | 10:11 AM
| Frank Haflich
LOS ANGELES Ducommun Inc. is seeking additional commercial aircraft work as the aerospace contractor looks to replace business that will be lost in the coming phaseout of Boeings C-17 Globemaster III military transport.
The Carson, Calif.-based contractors net income totaled $4.6 million in the third quarter, down 9.2 percent from $5.1 million in the same period a year ago, due primarily to a 24.7-percent decline in revenue from its nonaerospace and defense business.
"We are now finalizing the last order releases with Boeing for the C-17 and believe this should be consummated by the year-end," Ducommun chairman, president and chief executive officer Anthony J. Reardon said during a quarterly earnings call. "Once these orders are in hand, we anticipate our last shipments will take place in late 2014.....
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