GenCorp ups sales, trims loses for 2014 Q1

1 April 2014

GenCorp Inc. (NYSE: GY) reported its net sales for the first quarter of fiscal 2014 totaled USD329.7m compared to USD243.7m for the first quarter of fiscal 2013.

Net loss for the first quarter of 2014 was USD2.1m, or USD0.03 loss per share, compared to a net loss of USD14.0m, or USD0.24 loss per share, for the first quarter of fiscal 2013.

“During this quarter we remained focused on delivering excellent program performance to our customers including use of our propulsion systems in powering successful launches of the Atlas V, Delta IV and Antares launch vehicles,” said GenCorp CEO Scott J. Seymour. “We also continued to implement our affordability initiatives including a reduction in force and the consolidation of our Utah facility. And, we initiated our share repurchase program announced earlier this year.”

GenCorp is a leading technology-based manufacturer of aerospace and defense products and systems with a real estate segment that includes activities related to the entitlement, sale and leasing of the company´s excess real estate assets. Its website is at http://www.GenCorp.com.

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