Shares in aerospace and defense company Ducommun (NYSE: DCO) rose 4% to $57.44 each and a market cap of $841 million after the firm reported first-quarter revenue that beat analyst estimates.
Net revenue of $190.8 million was a 5.3% increase over the same period a year earlier, while net income for the quarter was $6.8 million.
CEO Steve Oswald said in a statement that the Santa Ana-based company will pursue its Vision 2027 strategy, adding “lots of runway ahead.”
Ducommun last month rejected an offer from private equity firm Albion River LLC to buy the company for $60 per share, saying its 2027 strategy was preferable.
