Aerojet Rocketdyne reports flat sales

By Marjorie Censer / May 1, 2019 at 12:36 PM

Aerojet Rocketdyne this week reported aerospace and defense segment sales in its most recent quarter hit $490 million, essentially flat from the same three-month period a year earlier.

The company said it saw a decline in space program sales as a result of the RS-68 program and the winding down of the AJ60 solid rocket motor, but saw an increase of $8.6 million in defense program sales, driven by the Patriot Advanced Capability-3 program.

The company's aerospace and defense segment reported quarterly profit of nearly $65 million, close to double its income from the same period a year ago. However, Aerojet Rocketdyne said its 2018 profit was a result of “performance issues” related to its Commercial Crew Development program.