(RTTNews) -  Monday, Ducommun Inc. (DCO: News ), a provider of engineering and manufacturing services, reported a marginal decrease profit for the third quarter, impacted by a rise in expenses. However, earnings per share that remained flat from last year, came in above analysts' expectations.

The Carson, California-based company's net income came down to $6.19 million from $6.26 million for the same period last year. However, earnings per share remained flat at $0.59 compared with year earlier period.

Analysts polled by Thomson Reuters expected earnings per share of $0.52 for the quarter. Analysts' estimate typically excludes one-time items.

Total sales and service revenues grew to $109.90 million from $100.86 million for the same period a year-ago. Analysts had a consensus revenue estimate of $111.12 million for the third quarter.

Commenting on rise in sales, Joseph Berenato, chairman and chief executive officer said, "..Sales increased by $9 million on the strength of the December 2008 acquisition of DAS-NY. Excluding the acquisition, year-over-year sales were largely flat, notwithstanding a precipitous decline in commercial aircraft sales particularly for regional and business jets.."
"..The third quarter of 2009 benefited from a substantial increase in military sales for such programs as the Northrop Grumman X-47B UCAS, the Boeing C-17 aircraft and radar system upgrades for military fighter aircraft. A substantial increase in sales for the Sikorsky Blackhawk helicopter more than offset the decline in sales for the Boeing Apache helicopter," Berenato said.

Total operating costs and expenses increased to $100.01 million from $91.52 million for the year earlier period mainly due to acquisition of DynaBil Industries, Inc. or DAS-NY in December 2008.

For the nine months, net income dropped to $13.38 million or $1.27 per share from $17.35 million or $1.63 per share for the year earlier period and revenues rose to $325.08 million from $302.38 million a year-ago.

DCO is currently trading at $17.88, up $0.86 or 5.05% on NYSE.

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by RTT Staff Writer

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