{"id":65274,"date":"2018-05-04T21:09:56","date_gmt":"2018-05-04T13:09:56","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/strong-first-quarter-for-orbital-atk-ahead-of-acquisition\/"},"modified":"2018-05-04T21:09:56","modified_gmt":"2018-05-04T13:09:56","slug":"strong-first-quarter-for-orbital-atk-ahead-of-acquisition","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/strong-first-quarter-for-orbital-atk-ahead-of-acquisition\/","title":{"rendered":"Strong First Quarter for Orbital ATK Ahead of Acquisition"},"content":{"rendered":"<p><strong>Orbital ATK<\/strong> reported strong first quarter financial results with solid double-digit increases in the top and bottom lines in what might be the company\u2019s last earnings release ahead of its acquisition by <strong>Northrop Grumman<\/strong>. Sales increased 21 percent to $1.3 billion from $1.1 billion a year ago, with all three of the company\u2019s operating segments contributing to the result. Ramp-ups in major aircraft programs, defense electronics, armament and small caliber systems, and satellite work all factored in revenue increase.<\/p>\n<p>Net income climbed 52 percent to $101 million, $1.74 Earnings Per Share (EPS), from $66.4 million ($1.15 EPS), driven by lower taxes, the higher sales, and improved program performance on some propulsion system and aerospace structures contracts. Excluding acquisition-related impacts, adjusted per share earnings of $1.76 beat consensus expectations by 21 cents EPS.<\/p>\n<p>The company didn\u2019t host an earnings call given the pending acquisition by Northrop Grumman. That deal is expected to close during the second quarter.<\/p>\n<p>Orders in the quarter were robust at nearly $2 billion, and when combined with $1.1 billion in option exercises, drove total backlog to $16.6 billion, a 12 percent increase from a year ago. Free cash flow was an outflow of $308.3 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Orbital ATK reported strong first quarter financial results with solid double-digit increases in the top and bottom lines in what might be the company\u2019s last earnings release ahead of its acquisition by Northrop Grumman. Sales increased 21 percent to $1.3 billion from $1.1 billion a year ago, with all three of the company\u2019s operating segments [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":65276,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-65274","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/65274"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=65274"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/65274\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media\/65276"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=65274"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=65274"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=65274"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}