PAE reports sales decline

PAE said today sales during its most recent quarter totaled $617 million, down about 8% from the same three-month period a year earlier.

"The decrease was attributable to timing-related impacts on billable materials and task orders for incremental labor, the recompete loss of certain contracts, and an approximate $14.0 million impact from COVID-19," the company said.

PAE reported a quarterly loss of $4.9 million, less than the $5.7 million loss it recorded a year earlier.