Aerojet Rocketdyne reports quarterly loss

Aerojet Rocketdyne's sales in its most recent quarter hit $463 million, up from $441 million during the same three-month period the prior year, the company announced Tuesday.

The company reported a quarterly loss of $11 million, less than the $38 million lost a year earlier.

Aerojet Rocketdyne said the company during the quarter faced a $34 million charge associated with a debt redemption as well as a $16 million expense related to environmental remediation reserve requirements.

The company also reported that through Sept. 30, the research and development effort for the AR1 engine has incurred $135.4 million in costs.

"Through September 30, 2016, the Company has recorded receivables in the aggregate from the U.S. Air Force and [United Launch Alliance] of $66.0 million (of which $52.5 million has been collected) related to AR1 engine development which was recorded as a reduction of the AR1 R&D costs," the company said in its earnings statement.

Another $37.3 million in AR1 costs are reimbursable, according to Aerojet Rocketdyne.