Ducommun Inc (NYSE:DCO) Q2 2020 Earnings Conference Call - Final Transcript

Jul 30, 2020 • 05:00 pm ET


Ducommun Inc (NYSE:DCO) Q2 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by, and welcome to the Ducommun Second Quarter Earnings Conference Call. [Operator Instructions] I would now like to hand the conference over to your moderator today, Mr. Chris Witty. Thank you. Please go ahead.

Chris Witty

Thank you, and welcome to Ducommun's 2020 Second Quarter Conference Call. With me today are Steve Oswald, Chairman, President and CEO; and Chris Wampler, Vice President, Interim Chief Financial Officer and Treasurer and Controller and Chief Accounting Officer.

I'm going to discuss certain limitations to any forward-looking statements regarding future events, projections or performance that we may make during the prepared remarks or the question-and-answer session that follows. Certain statements today that are not historical facts, including any statements as to future market conditions, results of operations and financial projections, are forward-looking statements under the Federal Private Securities Litigation Reform Act of 1995 and are, therefore, prospective.

These forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from the future results expressed or implied by such forward-looking statements. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. In addition, estimates of future operating results are based on the company's current business, which is subject to change.

Particular risks facing Ducommun include, among others, the cyclicality of our end-use markets, the impact of COVID-19 on our operations or customers, the level of U.S. government defense spending, timing of orders from our customers, legal and regulatory risks, management changes, the cost of expansion and acquisitions and competition. These risks and others are described in our annual report on Form 10-K filed with the SEC, and our forward-looking statements are subject to those risks.

Statements made during this call are only of the time made, and we do not intend to update any statements made in this presentation except if, and as, required by regulatory authorities.

This call also includes non-GAAP financial measures. Please refer to our filings with the SEC for a reconciliation of the GAAP to non-GAAP measures referenced on this call.

We filed our 2020 second quarter Form 10-Q with the SEC today. However, the SEC is having some technical difficulties. So you may not be able to currently view it on their website. Please continue to check, as they are working on it.

I would now like to turn the call over to Mr. Steve Oswald for a review of the operating results. Steve?

Stephen G. Oswald

Well, thank you, Chris. And thanks, everyone, for joining us today for our second quarter conference call. I also hope that you and your families are healthy and continuing to get through this pandemic as best as possible.

Today, and as usual, I will give an update on the current situation at the company, after which Chris Wampler will review our financials in detail.

The company remains focused, first and foremost, on the health and safety of our employees.