Aerojet Rocketdyne reports lower sales

By Marjorie Censer / April 29, 2020 at 9:02 AM

Aerojet Rocketdyne said this week sales in its most recent quarter totaled $476 million, down 3% from the same three-month period a year earlier.

The company attributed the decline to reduced space program sales, mostly a result of "lower sales in the Commercial Crew Development program" and "the final shipment of the AJ-60 solid_rocket motor that occurred in the first quarter of 2019."

Aerojet Rocketdyne said those declines were offset by $5.7 million in defense programs sales, primarily related to the Guided Multiple Launch Rocket System and hypersonic booster programs.

The company reported quarterly profit of $31.4 million, down nearly 19% from the prior year. Aerojet Rocketdyne said the profit decline was partly a result of "2020 cost growth on a portion of the Standard Missile program and the reserve release upon the final AJ-60 solid rocket motor delivery in 2019."

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