Business & Real Estate

Aerojet Rocketdyne sees annual gains in sales, net income

El Segundo-based Aerojet Rocketdyne Holdings Inc. on Monday announced year-over-year improvements in sales and net income in the first quarter.

The company, which recently announced that it would transfer or eliminate 1,100 of its local jobs and cease rocket engine-manufacturing operations in Rancho Cordova by 2019, said first-quarter sales totaled $405.3 million, compared with $356.9 million in the opening quarter of 2016.

Net income in this year’s first quarter was $5.9 million, or 8 cents a share, compared with income of $5.1 million, or 8 cents a share, in the year-ago period.

The company’s total contract backlog as of March 31 was $4.2 billion, compared with $4.5 billion as of Dec. 31, 2016.

Mark Glover: 916-321-1184, @markhglover