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After Ducommun Inc. (DCO) presented Q3 2013 Earnings, the company's stock declined 20%. The sell-off is overdone and has created a great opportunity to buy the company. The company reported $0.42 in earnings per diluted share, adjusted EBITDA of $19.2 million and a cash flow from operations of $7.6 million. It repaid $7.5 million of debt during the quarter and has a backlog of $609 million.

The company is burdened by a heavy debt load and uncertainty surrounding government spending. When earnings come around and disappointing numbers remind investors of all threats, they apparently sell en masse. The concerns are real, but overblown. The opportunity for the company to succeed in paying down debt and grow...

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