POST Online Media Lite Edition



 

GenCorp Q1 net sales totaled $318.6 million

Staff writer |
GenCorp reported results for the first quarter ended February 28, 2015. Net sales totaled $318.6 million compared to $332.1 million for Q1 2014.

Article continues below






Net loss for the first quarter of fiscal 2015 was $3.9 million, or $0.07 loss per share, compared to a net loss of $2.3 million, or $0.04 loss per share, for the first quarter of fiscal 2014.

Adjusted EBITDAP (Non-GAAP measure) for the first quarter of fiscal 2015 was $34.7 million, or 10.9% of net sales, compared to $40.6 million, or 12.2% of net sales, for the first quarter of fiscal 2014.

Segment performance (Non-GAAP measure) before environmental remediation provision adjustments, retirement benefit plan expense, and unusual items was $31.2 million for the first quarter of fiscal 2015, compared to $33.9 million for the first quarter of fiscal 2014.

Cash used in operating activities in the first quarter of fiscal 2015 totaled $35.6 million, compared to $25.3 million in the first quarter of fiscal 2014.

Free cash flow (Non-GAAP measure) in the first quarter of fiscal 2015 totaled $39.9 million, compared to $34.6 million in the first quarter of fiscal 2014.

As of February 28, 2015, the Company had $522.8 million in net debt compared to $516.3 million as of November 30, 2014. As of February 28, 2015, the Company had $2.4 billion of funded backlog compared to $2.2 billion as of November 30, 2014.

"Our fiscal 2015 has begun with a series of exciting successes featuring Aerojet Rocketdyne propulsion products.

"First, the company helped usher in a new era in space exploration by supporting the inaugural flight of NASA's new Orion manned deep space exploration vehicle providing the primary propulsion system on the Orion vehicle itself and the booster and upper stage engines for the Delta IV launch vehicle. Once again, our products achieved 100% mission success," said GenCorp President and CEO Scott Seymour.

"This exciting event was followed by a series of successful engine development tests key to advancing our wide range of next generation propulsion solutions for new systems like the Space Launch Systems SLS - modified RS-25 liquid booster engines, MPS-120 cubesat propulsion system, and our newest liquid booster engine, the AR1.

"In addition, we launched a multi-faceted Competitive Improvement Program that is designed to enhance Aerojet Rocketdyne's technological and competitive leadership in its markets."


What to read next

GenCorp total sales $286.6 million
GenCorp Q3 net loss 9.5 million
GenCorp sales increased significantly