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

By Cal Biesecker

Thursday, May 11th, 2017

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

Orbital ATK's CygnusTM spacecraft in April completed a successful resupply mission to the International Space Station. Photo: Orbital ATK

Orbital ATK [OA] on Thursday 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 the year 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…

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