Orbital ATK Reports Profit Boost

Orbital ATK said that while sales declined in its most recent quarter, profit surged.

The company reported quarterly revenue of $1.1 billion, down about 3 percent from the same period a year earlier. The results were adjusted, the company said, to reflect its acquisition of ATK's aerospace and defense groups

Orbital ATK said sales in the defense systems group fell $19 million.

Profit grew to $67.5 million, up from $39.5 million in the same quarter the prior year.