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Orbital ATK Posts Strong Second Quarter Results

Cal Biesecker By
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Orbital ATK Posts Strong Second Quarter Results
An Orbital ATK Antares launch vehicle lifts off from Wallops Island, Va. Photo: Orbital ATK

Orbital ATK [OA] on Thursday reported strong second quarter financial results, driven by its rocket and satellite businesses, while the company increased financial guidance for the year.Sales increased 7 percent to just over $1.1 billion from just under $1.1 billion a year ago while adjusted net income rose 16 percent to $76.6 million, $1.28 earnings per share (EPS), from $65.9 million ($1.10 EPS), well above consensus estimates of $1.02 EPS. Free cash flow was a $5.5 million outflow.The strong results…

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