Ducommun Incorporated reported a decrease in revenue for the first quarter of 2021, primarily due to lower revenue in the commercial aerospace market, offset by higher revenue in the military and space markets. Net income also decreased compared to the first quarter of 2020, but the company remains optimistic about increasing build rates in the second half of 2021 and 2022.
Revenue was $157.2 million.
Net income was $6.7 million, or $0.55 per diluted share.
Adjusted net income was $7.1 million, or $0.58 per diluted share.
Gross margin was 21.1%.
The company anticipates increasing build rates in the second half of 2021 and 2022 will have a positive impact on key aircraft platforms across customers such as Boeing, Airbus and Gulfstream.
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