Ducommun Incorporated Announces Award of Major Defense Orders for Raytheon Radar Systems
12 April 2024 - 12:15PM
Ducommun Incorporated (NYSE: DCO) (“Ducommun” or the
“Company”), a global supplier of innovative electronic and
structural solutions for the aerospace & defense industry, is
proud to announce two major awards totaling over $50M in revenue
for the Raytheon SPY-6 family of radar systems. These two awards
represent a $25M follow on order for one circuit card assembly
already in production, along with another $25M order for one
circuit card assembly that will be brand new production for DCO.
All cards will be produced at Ducommun’s world-class engineering
and manufacturing performance center for circuit cards assemblies
in Tulsa, Oklahoma.
“We are thrilled to have earned the trust of Raytheon on this
most critical Navy radar system as we continue to build out this
part of our defense business by supporting off-loading from our
strategic defense customers. This is a very important initiative
for us and one I have been talking about with shareholders on our
quarterly earning calls. We are also now moving more and more into
radar systems for defense, which complements our already
significant circuit card assemblies’ franchise for missiles, such
as MIR and the family of Standard Missiles” said Stephen G. Oswald,
chairman, president, and chief executive officer. “Raytheon has
treated us as a true partner, given us many opportunities and we
are committed to continue delivering value for them and their
customers.”
With the addition of these two new major awards, the Company’s
backlog continues to break all-time high records at over $1B, which
benefits shareholders for years to come. Ducommun currently
provides Raytheon with electronics, circuit card assemblies,
harness cable assemblies, and structural products on both legacy
and emerging programs.
About Ducommun IncorporatedDucommun
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.
About RTX CorporationRTX is the world's
largest aerospace and defense company. With more than 185,000
global employees, it pushes the limits of technology and science to
redefine how it connects and protects our world. Through
industry-leading businesses – Collins Aerospace, Pratt &
Whitney, and Raytheon – it is advancing aviation, engineering
integrated defense systems for operational success, and developing
next-generation technology solutions and manufacturing to help
global customers address their most critical challenges.
Forward-Looking StatementsThis press release
includes "forward looking statements" within the meaning of the of
the federal securities laws relating to Ducommun Incorporated,
including statements relating to Ducommun’s expectations pertaining
to opportunities under agreements with its key customers, its
backlog and its benefit to shareholders, and similar expressions
that concern Ducommun’s intentions or beliefs about future
occurrences, expectations, or results. Forward looking statements
are subject to risks, uncertainties and other factors that may
change over time and may cause actual results to differ materially
from those that are expected. It is very difficult to predict the
effect of known factors, and Ducommun cannot anticipate all factors
that could affect actual results that may be important to an
investor. All forward-looking information should be evaluated in
the context of these risks, uncertainties, and other factors,
including those factors disclosed under “Risk Factors” in our
reports filed with the SEC, including the Company’s Quarterly
Reports on Form 10-Q, Annual Reports on Form 10-K, Current Reports
on Form 8-K and its other filings with the SEC. The forward-looking
statements included in this press release are made only as of the
date of this press release, and Ducommun does not undertake any
obligation to (and expressly disclaims any such obligation to)
update the forward looking statements to reflect subsequent events
or circumstances.
MEDIA CONTACTS:Suman Mookerji, Senior Vice
President, Chief Financial Officer,
657.335.3665SMookerji@ducommun.com
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