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GenCorp, Soon To Be Aerojet Rockedyne, Posts Wider Losses, Lower Sales

Cal Biesecker By
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GenCorp, Soon To Be Aerojet Rockedyne, Posts Wider Losses, Lower Sales
A closeup shot of the J-2X rocket engine shows how it was gimbaled during a June 14 test on the A-1 Test Stand at Stennis Space Center.

GenCorp. Inc. [GY] on Friday posted wider net losses and lower sales in the first quarter due to cost growth on a rocket engine program and lower rocket engine sales.The net loss was $3.9 million, 7 cents earnings per share (EPS), compared to a net loss of $2.3 million (4 cents EPS) a year ago. Sales slipped 4 percent to $318.6 million from $332.1 million.Sales fell due to declines in its J-2X, RL-10 and RS-68 rocket engine programs. J-2X sales…

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