{"id":65280,"date":"2018-05-04T18:34:08","date_gmt":"2018-05-04T10:34:08","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/aerojet-rocketdyne-reports-q1-rise-in-aerospace-defense-net-sales\/"},"modified":"2018-05-04T18:34:08","modified_gmt":"2018-05-04T10:34:08","slug":"aerojet-rocketdyne-reports-q1-rise-in-aerospace-defense-net-sales","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/aerojet-rocketdyne-reports-q1-rise-in-aerospace-defense-net-sales\/","title":{"rendered":"Aerojet Rocketdyne Reports Q1 Rise in Aerospace, Defense Net Sales"},"content":{"rendered":"<\/p>\n<p><strong>Aerojet Rocketdyne<\/strong> <strong>Holdings<\/strong> has reported results for the first quarter ended March&nbsp;31. Net income was&nbsp;$14 million, or&nbsp;$0.18&nbsp;diluted income per share, compared with net income of&nbsp;$5.9 million, or&nbsp;$0.08&nbsp;diluted income per share in 2017.<\/p>\n<p>Effective&nbsp;Jan. 1, the company adopted the new revenue recognition guidance. Consistent with the standard, net assets increased by&nbsp;$37.6 million,&nbsp;and&nbsp;$578 million&nbsp;of net sales were recognized in the cumulative effect with a corresponding reduction to backlog. Total backlog was&nbsp;$3.9 billion&nbsp;compared with&nbsp;$4.6 billion&nbsp;as of Dec.&nbsp;31, 2017.<\/p>\n<p>Adjusted Earnings Before Interest, Taxes, Depreciation, Amortization and Pension Income (EBITDAP), following non-Generally Accepted Accounting Principles (GAAP) measure, was&nbsp;$47.2 million&nbsp;compared with&nbsp;$41.3 million&nbsp;in 2017.<\/p>\n<p>Cash used in operating activities totaled&nbsp;$95.4 million&nbsp;compared with&nbsp;$3.1 million, principally driven by timing, including significant early receipts from customers at the end of 2017.<\/p>\n<p>Within the aerospace and defense segment, net sales were $490.4 million compared with $403.7 in 2017, while the segment performance was $34.3 million compared with $34.7 million last year.<\/p>\n<p>The segment margin was 7 percent compared with 8.6 percent in 2017. Segment margin before environmental remediation provision adjustments, retirement benefits, net and unusual items, following non-GAAP measure, was 7.5 percent compared with 9.5 percent.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Aerojet Rocketdyne Holdings has reported results for the first quarter ended March&nbsp;31. Net income was&nbsp;$14 million, or&nbsp;$0.18&nbsp;diluted income per share, compared with net income of&nbsp;$5.9 million, or&nbsp;$0.08&nbsp;diluted income per share in 2017. Effective&nbsp;Jan. 1, the company adopted the new revenue recognition guidance. Consistent with the standard, net assets increased by&nbsp;$37.6 million,&nbsp;and&nbsp;$578 million&nbsp;of net sales were [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":55114,"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-65280","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\/65280"}],"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=65280"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/65280\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media\/55114"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=65280"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=65280"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=65280"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}