Aerojet Rocketdyne reports increased sales, lower profit

Aerojet Rocketdyne said today sales in its most recent quarter totaled $528 million, up almost 10% from the same three-month period a year earlier.

The company said sales were bolstered by the RS-25 and Terminal High Altitude Area Defense programs.

However, quarterly profit hit $32 million, down nearly 4% from the prior year. Aerojet Rocketdyne attributed the decline to cost growth and performance issues on its Commercial Crew Development program as well as increased expenses related to retirement benefits and environmental remediation.