Ducommun Incorporated reported strong Q4 2021 results, with revenue increasing by 4.5% year-over-year to $164.8 million and net income reaching $110.8 million, or $9.05 per diluted share. The company benefited from higher revenue in the industrial and commercial aerospace markets, as well as a significant gain from the sale-leaseback transaction. The backlog grew to $905 million, driven by commercial aerospace orders.
Revenue increased by 4.5% year-over-year to $164.8 million.
GAAP net income was $110.8 million, or $9.05 per diluted share.
Adjusted EBITDA increased by 40 basis points year-over-year to 14.8% of revenues.
Completed the acquisition of Magnetic Seal LLC for $69.5 million, net of cash acquired.
In 2022, with growing travel demand and subsiding pandemic-related related restrictions, the commercial aerospace industry should continue its recovery especially in the narrow body market. Our longstanding customer relationships with Boeing, Raytheon, and other leading OEMs, along with our five year Airbus contract for titanium products awarded in 2021 are expected to drive stronger performance in 2022 and beyond.
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