Ducommun Incorporated’s Appleton Performance Center Expected to Set a New Record of $100M+ in Revenue in 2022 on Strong Demand and New Defense Wins

Rhea-AI Summary

Ducommun's Appleton, Wisconsin performance center is set to achieve over $100 million in revenue this year, a significant milestone attributed to substantial growth and full lifecycle support for customers like Raytheon. Recently, Ducommun secured several Low Rate Initial Production (LRIP) contracts with Raytheon, including the Next Generation Jammer for the U.S. Navy, which is expected to generate over $10 million. Additionally, the company has been identified as a strategic supplier for Raytheon’s missile programs, representing over $8 million in revenue.

Positive

• Appleton performance center projected to exceed $100 million in revenue.
• Secured multiple Low Rate Initial Production contracts with Raytheon.
• Contracts include Next Generation Jammer, adding over $10 million.
• Identified as a strategic supplier for Raytheon's missile programs, contributing over $8 million.

Negative

• None.

SANTA ANA, Calif., Sept. 07, 2022 (GLOBE NEWSWIRE) -- Ducommun’s Appleton, Wisconsin performance center is expected to exceed $100 million in revenue this year. This is a major milestone and the success is largely attributed to the performance center’s significant growth, including full program life cycle support of key customers such as Raytheon Missiles and Defense and Raytheon Intelligence & Space.

Ducommun has recently won several Low Rate Initial Production (LRIP) contracts with Raytheon. This includes Raytheon’s Next Generation Jammer (NGJ) Mid-Band system for the United States Navy and represents over $10 million in revenue. Ducommun has also been identified as a strategic supplier of several of Raytheon’s Land Warfare & Air Defense Mission programs including the next generation Excalibur, TOW, and Javelin missiles.  This work represents over $8 million dollars in revenue with promising long term sales opportunity as the programs progress to full rate production.

About Ducommun Incorporated

Ducommun Incorporated delivers value-added innovative products and 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 www.ducommun.com.

Forward-Looking Statements

This press release and any attachments include “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, in particular, any statements relating to Ducommun’s expectations pertaining to opportunities under agreements with its key customers, expected results of operations for its performance centers, anticipated federal defense budgetary environments, and similar expressions that concern Ducommun’s intentions or beliefs about future occurrences, expectations or results. The Company generally uses the words “may,” “will,” “could,” “should,” “expect,” “anticipate,” “believe,” “estimate,” “plan,” “intend,” “continue” and similar expressions in this press release and any attachments to identify forward-looking statements. 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 Ducommun’s reports filed with the SEC, including the Company’s Quarterly Reports on Form 10-Q, Annual Reports on Form 10-K, and Current Reports on Form 8-K. 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.

Contacts
Suman Mookerji, Vice President, Corporate Development and Investor Relations
657.335.3665, SMookerji@ducommun.com

FAQ

What is Ducommun's expected revenue for 2022?

Ducommun's Appleton performance center is expected to exceed $100 million in revenue for 2022.

What contracts has Ducommun won recently with Raytheon?

Ducommun has won several Low Rate Initial Production contracts, including the Next Generation Jammer for the U.S. Navy.

How much revenue will the Next Generation Jammer contract generate for Ducommun?

The Next Generation Jammer contract is expected to generate over $10 million in revenue for Ducommun.

What other opportunities does Ducommun have with Raytheon?

Ducommun is identified as a strategic supplier for Raytheon's Land Warfare & Air Defense Mission programs, representing over $8 million.