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Income Dips, Sales Rise At Orbital ATK In Second Quarter

Cal Biesecker By
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Orbital ATK [OA] on Aug. 3 posted lower earnings despite higher sales but the company said its tracking at or ahead of plan in 2017, leading it to raise its guidance for 2017.Net income fell 4 percent to $87.1 million, $1.51 earnings per share (EPS), from $90.7 million ($1.55 EPS) in 2016, driven by lower operating profits in the Defense Systems and Space Systems Groups. The company blamed fewer favorable contract profit adjustments in both groups in the second quarter versus…

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