Ducommun Incorporated (NYSE: DCO) was one of the top gainers in Friday’s session. The stock rallied in the day to close with gains of 33.09%. This came after the company reported stronger than expected Q4 results.
In Q4, the company reported net revenues of $186.9 million. This was much higher than the $164.2 million that it had in a similar quarter in 2018. The company attributed this increase in revenues to a number of factors. One of them was increased revenues in its military and space markets. These markets gave the company an increase in revenues by $16.1 million. The company attributed this to an increase in demand for its military fixed-wing planes and space platforms.
The numbers were also pushed up by a $3.6 million increase in revenues in the commercial and aerospace markets. It linked this to more content, and an increase in demand for its bigger aircraft platform.
Besides the improved revenues, the company also reported a GAAP net income of $8.9 million, representing an EPS of $0.75. Adjusted net income stood at $9.5 million, while gross margin edged higher by 160 points to 21.5% compared to a similar quarter in the previous financial year. The company further announced that it had completed the acquisition of Nobles Worldwide.
Commenting on the results, CEO Stephen Oswald stated that he was happy with the company’s performance in Q4. He emphasized that once again, the company had managed to achieve double digit growth for 6 quarters in a row. He further stated that sales in Q4 of 2019 had hit their highest levels since 2019 to clock at $721 million.
Looking at its price action DCO gapped up and opened the day at $48.01. It then traded between a low of $47.36 and a high of $557.84, before closing the day at $6.95. Volumes in the day stood at 939.68k.
About Ducommun Incorporated
Ducommun Incorporated is an engineering company that also offers manufacturing services. It is based in Santa An, California.