Aerospace and defense component maker maker Ducommun (NYSE: DCO) reported third-quarter net revenue rose 2.6% to $201.4 million and adjusted earnings per share of 99 cents,  beating analysts’ estimates and sending the shares higher.
Net income for the third quarter was $10.1 million, an increase of 216% year-over-year.
“We once again grew our topline both year-over-year and sequentially, led by strength in both of our military and commercial aerospace segments along with strong quarterly gross margins and adjusted EBITDA margins,” said Stephen G. Oswald, chairman, president and chief executive officer of the Costa Mesa-based company.
Shares in Ducommun rose 5% to $68.90 apiece for a market cap of just over $1 billion following the earnings release.
