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Orbital ATK’s Income Falls In First Quarter Despite Increase In Sales

Cal Biesecker By
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Orbital ATK [OA] on May 11 posted a decline in earnings in its first quarter despite an increase in sales, results the company said were in line with its expectations as the second half of 2017 is expected to be stronger.Bookings were very strong, more than $1.6 billion, about 1.5 times sales, and the company reaffirmed its financial outlook.Net income slid 14 percent to $66.5 million, $1.15 earnings per share (EPS), from $77.3 million ($1.31 EPS). Adjusted per share earnings were…

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