View printer-friendly version Ducommun Incorporated Announces $21M Award for Waterwatch Homeland Security Program
LOS ANGELES, California (June 24, 2008) -- Ducommun Incorporated (NYSE: DCO) today announced that its Miltec Corporation (Miltec) subsidiary has been awarded a long term contract to develop, demonstrate and provide security solutions for facilities located on U.S. waterways. The WaterWATCH Program is a continuation of previous waterway security development efforts at Miltec and has a five year total duration. The contract is valued at approximately $21 million, if fully funded. Miltec was awarded this task by the Army Aviation and Missile Research, Development & Engineering Center under its Applied Technology Initiatives Directorate, which focuses on bringing various technologies to bear on national issues such as Homeland Security.
Joseph C. Berenato, chairman and chief executive officer of Ducommun, stated, “The WaterWATCH Program is at the forefront of our efforts to expand into the homeland security arena. Homeland Security has the responsibility to protect this nation’s critical infrastructure located on over 25,000 miles of waterways. By applying our technological expertise to this program, we hope to achieve a model for effective and affordable protection of critical U.S. assets. We intend to continue to seek other applications for Miltec’s technology and products with both the Departments of Defense and Homeland Security.”
Miltec Corporation is a leading technology company with design, development, integration and test capabilities in the areas of missiles, space, sensors and simulation.
Founded in 1849, Ducommun Incorporated provides engineering and manufacturing services to the aerospace and defense industry.
The statements made in this press release include forward-looking statements that involve risks and uncertainties. The Company’s future financial results could differ materially from those anticipated due to the Company’s dependence on conditions in the airline industry, the level of new commercial aircraft orders, production rates for Boeing commercial aircraft, the C-17 and Apache helicopter rotor blade programs, the level of defense spending, competitive pricing pressures, manufacturing inefficiencies, start-up costs and possible overruns on new contracts, technology and product development risks and uncertainties, product performance, risks associated with acquisitions and dispositions of businesses by the Company, increasing consolidation of customers and suppliers in the aerospace industry, possible goodwill impairment, availability of raw materials and components from suppliers, and other factors beyond the Company’s control. See the Company’s Form 10-K for the year ended December 31, 2007 and Form 10-Q for the quarter ended March 29, 2008 for a more detailed discussion of these and other risk factors and contingencies.
Joseph C. Berenato, chairman and chief executive officer of Ducommun, stated, “The WaterWATCH Program is at the forefront of our efforts to expand into the homeland security arena. Homeland Security has the responsibility to protect this nation’s critical infrastructure located on over 25,000 miles of waterways. By applying our technological expertise to this program, we hope to achieve a model for effective and affordable protection of critical U.S. assets. We intend to continue to seek other applications for Miltec’s technology and products with both the Departments of Defense and Homeland Security.”
Miltec Corporation is a leading technology company with design, development, integration and test capabilities in the areas of missiles, space, sensors and simulation.
Founded in 1849, Ducommun Incorporated provides engineering and manufacturing services to the aerospace and defense industry.
The statements made in this press release include forward-looking statements that involve risks and uncertainties. The Company’s future financial results could differ materially from those anticipated due to the Company’s dependence on conditions in the airline industry, the level of new commercial aircraft orders, production rates for Boeing commercial aircraft, the C-17 and Apache helicopter rotor blade programs, the level of defense spending, competitive pricing pressures, manufacturing inefficiencies, start-up costs and possible overruns on new contracts, technology and product development risks and uncertainties, product performance, risks associated with acquisitions and dispositions of businesses by the Company, increasing consolidation of customers and suppliers in the aerospace industry, possible goodwill impairment, availability of raw materials and components from suppliers, and other factors beyond the Company’s control. See the Company’s Form 10-K for the year ended December 31, 2007 and Form 10-Q for the quarter ended March 29, 2008 for a more detailed discussion of these and other risk factors and contingencies.