View printer-friendly versionDucommun Incorporated Announces a $69 Million Award from the U.S. Army and Millile Defense Command
LOS ANGELES, California (February 14, 2008) -- Ducommun Incorporated (NYSE: DCO) today announced that its Miltec Corporation (Miltec) subsidiary has been awarded a $69.0 million contract to develop designs and technologies in support of the Operationally Responsive Space (ORS) program for the U.S. Army Space Missile and Defense Command (SMDC) in Huntsville, Alabama.
Under the terms of the contract, Miltec will examine conceptual designs for space vehicles able to further the ORS program mission employing both legacy government assets as well as new conceptual approaches. Joseph C. Berenato, chairman, president and chief executive officer of Ducommun, stated, “We are pleased to be supporting SMDC on this important space program. Our goal is to continue to broaden our technical and engineering capabilities in order to become more important to our key customers and to be able to compete for larger programs where we have demonstrated capabilities.”
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, 2006 and Form 10-Q for the quarter ended September 29, 2007 for a more detailed discussion of these and other risk factors and contingencies.
Under the terms of the contract, Miltec will examine conceptual designs for space vehicles able to further the ORS program mission employing both legacy government assets as well as new conceptual approaches. Joseph C. Berenato, chairman, president and chief executive officer of Ducommun, stated, “We are pleased to be supporting SMDC on this important space program. Our goal is to continue to broaden our technical and engineering capabilities in order to become more important to our key customers and to be able to compete for larger programs where we have demonstrated capabilities.”
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, 2006 and Form 10-Q for the quarter ended September 29, 2007 for a more detailed discussion of these and other risk factors and contingencies.