Business & Real Estate

Aerojet reports lower profits, revenue

Aerojet Rocketdyne Holdings Inc. reported lower second-quarter profits and sales Tuesday.

The Rancho Cordova rocket engine maker said quarterly profits fell to $5.9 million from $17.3 million the year before. Per-share earnings dropped to 9 cents from 25 cents.

Revenue declined to $408.4 million from $457.8 million a year earlier. The 2015 results included $42 million in revenue from a land sale.

The company said the decrease in sales included lower revenue from a missile contract, due primarily to timing of deliveries.

Aerojet shares closed at $18.60, down 32 cents, on the New York Stock Exchange. The quarterly results were announced after the market closed.

Dale Kasler: 916-321-1066, @dakasler

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