Aerojet Rocketdyne reports lower sales

Aerojet Rocketdyne said this week sales in its aerospace and defense segment during the most recent quarter reached $480 million, down about 3% from the same three-month period a year earlier.

"The decrease in net sales was primarily due to a decrease of $27.9 million in space programs primarily driven by the RS-68 program partially offset by growth in the RS-25 program," the company said. "The decline in space programs was partially offset by an increase of $10.7 million in defense programs primarily driven by the Patriot Advanced Capability-3 (PAC-3) and Guided Multiple Launch Rocket System (GMLRS) programs."

The company's quarterly profit in the segment totaled $59 million, down about 16% from the prior year.