With regard to the charge on the regional jet program, Anthony J. Reardon, the Company's chairman and chief executive officer, stated, “This action reflects the remainder of the contract, through 2016, as we have not reached agreement on sufficient price adjustments with the customer. We have been unable to reduce costs sufficiently to meet our targets and, therefore, the program remains unprofitable.
“We are streamlining our operations and consolidating certain facilities and functions to reduce costs and enhance margins, resulting in the associated restructuring charge. We continue to strategically review our overall footprint – as well as our product portfolio – and are taking additional actions to operate more efficiently and ensure long-term growth and sustainable margins.”
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recitation of historical facts are forward-looking statements. These
statements are identified by words such as “may,” “will,” “ begin,” “
look forward,” “expect,” “believe,” “intend,” “anticipate,” “should,”
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Source:
Ducommun Incorporated
Joseph P. Bellino
Vice President and
Chief Financial Officer
310-513-7211
or
Chris Witty
Investor
Relations
646-438-9385
cwitty@darrowir.com