Orbital ATK reports higher quarterly sales

Orbital ATK last week reported first-quarter sales of $1.3 billion, up nearly 21 percent compared to the same quarter the previous year.

Orbital CEO David Thompson said in a May 3 statement that "operationally, the company carried out numerous successful space and defense missions in the first quarter of 2018, while also delivering record quantities of tactical missiles, precision weapons, aerospace structures and related systems to government and commercial customers."

Orbital's Defense Systems Group reported quarterly sales had risen by $108 million compared to the first quarter of 2017 "largely due to higher activity in Defense Electronics Systems, Armament Systems and Small Caliber Systems Divisions," according to the statement. Space Systems Group quarterly sales went up by $15 million, or 5 percent compared to the same quarter the previous year "largely due to higher activity on Satellite Systems Division contracts."

The company didn't hold an earnings conference call due to its pending purchase by Northrop Grumman.