Ducommun Incorporated Announces Preliminary First Quarter 2020 Financial Results and Earnings Conference Call Details
April 20 2020 - 8:00AM
Ducommun Incorporated (NYSE: DCO) (“Ducommun” or the “Company”)
today announced that it plans to release the Company's 2020 first
quarter financial results after the market closes on April 30,
2020. Stephen G. Oswald, the Company’s chairman, president and
chief executive officer, and Christopher D. Wampler, the Company’s
vice president, interim chief financial officer and treasurer, and
controller and chief accounting officer, will host a call at 2:00
p.m. PT (5:00 p.m. ET) to review these results.
“I am looking forward to our Q1 call with
investors and analysts on April 30,” said Stephen G. Oswald.
“Despite a difficult time for our nation, the Ducommun team rose to
the challenge and achieved very good financial performance. We
expect to report revenues in excess of $170 million and a gross
margin percentage greater than 20% for the fifth consecutive
quarter. As a result, we expect to report our ninth consecutive
quarter of year-over-year revenue growth and our eighth consecutive
quarter of year-over-year gross margin percentage expansion.
“Our top priority is the safety of our
workforce, and we remain diligent with rigorous safety protocols at
our Performance Centers to protect our employees. The Ducommun
Foundation established in 2019 has also made contributions of
$625,000 to help at-risk individuals and families impacted by the
COVID-19 Coronavirus Pandemic through charitable organizations such
as the United Way.”
Conference Call Details To
participate in the teleconference, please call 844-239-5278
(international 574-990-1017) approximately 10 minutes before the
conference. The participant passcode is 8876975. Mr. Oswald and Mr.
Wampler will speak on behalf of the Company and anticipate the
meeting and Q&A period to last approximately 45 minutes. This
call is being webcast and can be accessed at Ducommun.com.
Conference call replay will be available after that time at the
same link or by dialing 855-859-2056, passcode 8876975.
About Ducommun Incorporated
Ducommun Incorporated delivers value-added innovative manufacturing
solutions to customers in the aerospace, defense and industrial
markets. Founded in 1849, the Company specializes in two core areas
- Electronic Systems and Structural Systems - to produce complex
products and components for commercial aircraft platforms,
mission-critical military and space programs and sophisticated
industrial applications. For more information, visit
Ducommun.com.
Preliminary ResultsThe unaudited preliminary
financial results for the first quarter 2020 represent the most
current information available to management and are based on
calculations or figures that have been prepared internally by
management and have not been reviewed or audited by the Company’s
independent registered public accounting firm. The Company’s actual
results may differ materially from these preliminary financial
results due to the completion of the Company’s financial closing
procedures, final adjustments and other developments that may arise
between the date of this announcement and when results for the
first quarter 2020 are finalized. The preliminary financial results
included in this announcement are subject to risks and
uncertainties and should not be viewed as a substitute for full
financial statements prepared in accordance with U.S. Generally
Accepted Accounting Principles.
Forward-Looking Statements
This press release include “forward-looking
statements,” within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended, including, in particular, earnings
guidance and any statements about the Company’s plans, strategies
and prospects. The Company generally uses the words “may,” “will,”
“could,” “expect,” “anticipate,” “estimate,” “plan,” “intend,”
“look forward” and similar expressions in this press release to
identify forward-looking statements. The Company bases these
forward-looking statements on its current views with respect to
future events and financial performance. Actual results could
differ materially from those projected in the forward-looking
statements. These forward-looking statements are subject to risks,
uncertainties and assumptions, including, among other things: the
ultimate geographic spread, duration and severity of the
coronavirus (COVID-19) outbreak, and the effectiveness of actions
taken, or actions that may be taken, by governmental authorities to
contain the outbreak or treat its impact; the Company’s financial
closing procedures, final adjustments and other developments that
may arise between the date of this press release and when results
for the first quarter 2020 are finalized; and other risks and
uncertainties, including those detailed from time to time in the
Company’s periodic reports filed with the Securities and Exchange
Commission. You should not put undue reliance on any
forward-looking statements. You should understand that many
important factors, including those discussed herein, could cause
the Company’s results to differ materially from those expressed or
suggested in any forward-looking statement. Except as required by
law, the Company does not undertake any obligation to update or
revise these forward-looking statements to reflect new information
or events or circumstances that occur after the date of this news
release, April 20, 2020, or to reflect the occurrence of
unanticipated events or otherwise. Readers are advised to review
the Company’s filings with the Securities and Exchange Commission
(which are available from the SEC’s EDGAR database at
www.sec.gov).
MEDIA CONTACTS: Christopher D. Wampler, Vice
President, Interim Chief Financial Officer and Treasurer, and
Controller & Chief Accounting Officer, 657.335.3665Chris Witty,
Investor Relations, 646.438.9385, cwitty@darrowir.com
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