Revenue of Rancho Cordova's GenCorp boosted by Rocketdyne business

Published: Tuesday, Apr. 1, 2014 - 10:10 am

Boosted by the recent addition of Rocketdyne, Rancho Cordova-based rocket engine manufacturer GenCorp Inc. saw a significant surge in year-over-year first-quarter sales revenue.

Net sales for the first quarter totaled $329.7 million for its fiscal quarter ended Feb. 28, up 35 percent from $243.7 million for the first quarter of fiscal 2013.

GenCorp said Rocketdyne’s contributed $161.4 million in net sales in the most recent quarter.

Still, the company reported a net quarterly loss of $2.1 million, or 3 cents per share, compared with a net loss of $14 million, or 24 cents a share, in the year-ago period.

In February, GenCorp reported a fourth-quarter loss of $3.7 million. That was the first full quarter of financial results that included the Rocketdyne takeover. GenCorp officials said that the costs of absorbing Rocketdyne operations have so far offset big increases in revenue.

GenCorp finalized its $550 million acquisition of the Pratt & Whitney Rocketdyne business from United Technologies Corp. in mid-June last year.

Call The Bee’s Mark Glover, (916) 321-1184.

Read more articles by Mark Glover

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