Orbital ATK Reports Revenue of US$ 1.13 Billion in Second Quarter 2015
Dulles, Va, August 6, 2015--Orbital ATK, Inc. (NYSE: OA) today announced both GAAP and adjusted financial results for the second calendar quarter ended July 5, 2015. Orbital ATK reported GAAP revenues of US$ 1,130 million for the second quarter of 2015 compared to US$ 714 million in the same quarter in 2014.
GAAP operating income was US$ 125.8 million in the quarter compared to operating income from continuing operations of US$ 71.8 million in the comparable period last year. The company reported GAAP earnings per diluted share of US$ 1.22 in the 2015 second quarter compared to earnings per diluted share of US$ 0.96 in the comparable 2014 quarter. Free cash flow was negative US$ 37.2 million in the quarter ended July 5, 2015.
The company reported adjusted revenues of US$ 1,130 million in the second quarter of 2015 compared to adjusted revenues of US$ 1,055 million in the comparable period of 2014. Adjusted operating income and adjusted profit margin were US$ 131.6 million and 11.6%, respectively, in the second quarter of 2015 compared to US$ 115.8 million and 11.0%, respectively, in the same quarter of 2014. Adjusted earnings per share in the quarter were US$ 1.28 compared to $1.10 in the same period of 2014. Adjusted free cash flow was negative US$ 5.5 million in the quarter ended July 5, 2015.
“Orbital ATK reported excellent second quarter financial results characterized by better-than-expected revenue and very strong earnings. These results benefited from outstanding new orders, as well as continued solid operational execution on our major programs. As a result, we are increasing the company’s outlook for sales and earnings this year and expanding our previously-announced capital deployment program as well,” said David W. Thompson, Orbital ATK’s President and Chief Executive Officer.
For the first six months of 2015, the company reported adjusted revenues of US$ 2,246 million, adjusted operating income and profit margin of US$ 248.3 million and 11.1%, respectively, adjusted earnings per share of US$ 2.41 and adjusted free cash flow from continuing operations of US$ 53.2 million.
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