Aerojet Rocketdyne said today sales in its most recent quarter totaled $557 million, up 6% from the same three-month period a year earlier.
The company's quarterly profit reached $35.4 million, up nearly 40% from the prior year.
Aerojet Rocketdyne attributed the sales increase to its Standard Missile, Terminal High Altitude Area Defense and RS-25 programs.
In 2020, the company recorded sales of almost $2.1 billion, up about 5% from 2019. Profit for the year totaled $137.7 million, down about 2%.
Aerojet Rocketdyne said the RS-25, Medium Range Ballistic Missile and Guided Multiple Launch Rocket System programs drove the increase in 2020 sales.
However, it said profit declined slightly because of cost growth on a portion of the Standard Missile program in 2020 as well as cost growth and performance issues on the Commercial Crew Development program, among other issues.