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

Orbital ATK’s Second Quarter Earnings Soar But Sales Dip And Ammo Charge Coming
David Thompson, president and CEO of Orbital ATK. Photo: Orbital ATK

Orbital ATK [OA] on Wednesday 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 “mixed”…

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