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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • GenCorp Sales Rise And Loss Shrinks 0 comments
    Apr 1, 2014 11:14 AM | about stocks: GY

    Originally published at www.seclive.com

    Filing in Focus: GenCorp 10-Q, March 31, 2014

    GenCorp Inc. (NYSE:GY) announced its financial results for the first fiscal quarter 2014, posting a rise in sales and a shrinking net loss from the year-ago quarter. The aerospace and defense products manufacturer posted a jump in sales from $243.7M in the year-ago quarter to $329.7M, with its Rocketdyne business launching revenues to higher levels. The company's net loss shrunk significantly from $14.0M and $0.24 per share last year to a net loss of $2.1M and $0.03 per share this quarter, as the company's revenue, combined with cost-savings measures help turn it closer to profitability. President and CEO Scott Seymour remarked that the company excellent performance helped power the launches of various Atlas V, Delta IV, and Antares launch vehicles. GenCorp will be consolidating its Utah facility as well as reducing its workforce as a means of cutting costs.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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