View printer-friendly version Ducommun Incorporated Announces Award of $8 Million Phalanx Contract
LOS ANGELES, California (July 25, 2007) -- Ducommun Incorporated (NYSE: DCO) today announced that its Ducommun Technologies, Inc. (DTI) subsidiary was awarded a Raytheon Missile Systems contract totaling $8 million for the manufacture of electro-mechanical shipboard consoles and wire harnesses which form the crew station for the Phalanx Close-In Weapon System (CIWS). All production will be performed at DTI’s Phoenix, Arizona facility and will be completed by the end of 2008.
Joseph C. Berenato, chairman, president and chief executive officer, stated, “We are pleased to be a part of this defense electronics upgrade program. The Phalanx system is deployed on every U.S. Navy vessel and in the fleets of twenty allied nations. Additionally, DTI’s Carson, California facility provides the man/machine interface for the Phalanx system. Such partnering of capabilities between Ducommun facilities is a strategic objective of the Company.”
Ducommun Technologies is a leading technology company with design, development, manufacturing, integration, and test capabilities in the areas of missiles, space, sensor, simulations, complex electronic/mechanical assemblies, illuminated cockpit displays, RF systems and space qualified motion control devices.
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, 2006 and Form 10-Q for the quarter ended March 31, 2007 for a more detailed discussion of these and other risk factors and contingencies.
Joseph C. Berenato, chairman, president and chief executive officer, stated, “We are pleased to be a part of this defense electronics upgrade program. The Phalanx system is deployed on every U.S. Navy vessel and in the fleets of twenty allied nations. Additionally, DTI’s Carson, California facility provides the man/machine interface for the Phalanx system. Such partnering of capabilities between Ducommun facilities is a strategic objective of the Company.”
Ducommun Technologies is a leading technology company with design, development, manufacturing, integration, and test capabilities in the areas of missiles, space, sensor, simulations, complex electronic/mechanical assemblies, illuminated cockpit displays, RF systems and space qualified motion control devices.
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, 2006 and Form 10-Q for the quarter ended March 31, 2007 for a more detailed discussion of these and other risk factors and contingencies.