UPDATE 1-Ducommun Q3 profit beats Wall Street view

Mon Nov 2, 2009 8:25am EST
 
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* Q3 EPS $0.59 vs est $0.52

* Revenue rises 9 pct

Nov 2 (Reuters) - Aircraft parts maker Ducommun Inc (DCO.N) posted a better-than-expected quarterly profit, helped by a 10 percent rise in product sales.

For the third quarter, the company reported earnings of $6.2 million, or 59 cents a share, compared with $6.3 million, or 59 cents in the year-ago period.

Revenue rose 9 percent to $109.9 million.

Analysts on average were expecting earnings of 52 cents a share, before items, on revenue of $111.1 million, according to Thomson Reuters I/B/E/S.

The increase in sales was helped by the acquisition of DynaBil Industries Inc, which contributed $11.1 million in the third quarter, Ducommun said.

The quarter also benefited from an increase in military sales for the Northrop Grumman (NOC.N) unmanned combat air vehicle X-47B UCAS, the Boeing (BA.N) C-17 aircraft and radar system upgrades for military fighter aircraft, Chief Executive Joseph Berenato said in a statement.

Shares of the company closed at $17.02 Friday on the New York Stock Exchange. (Reporting by Bijoy Koyitty in Bangalore; Editing by Vinu Pilakkott)

 

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