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Orbital ATK’s Second Quarter Earnings Soar But Sales Dip And Ammo Charge Coming

Rich Abott By
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Orbital ATK [OA] on Aug. 10 reported strong earnings in its second quarter despite a slight drop in sales, but the company said the results are preliminary due to an ongoing review of accounting matters with the company’s four-year old small caliber ammunition contract with the Army that is expected to have a loss over its 10-year term.David Thompson, president and CEO of Orbital ATK, said at the outset of the company’s investor call that that its financial results were…

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