Aerojet Rocketdyne Holdings, Inc. (AJRD) has reported profit of $18.10 million, or $0.25 a share for the quarter ended Dec. 31, 2016. Revenues for the quarter were $532.20 million. The company has not recorded any revenues for the previous year period. Gross margin for the quarter was at 14.36 percent. Operating income for the quarter stood at $39.20 million.
Operating income for the quarter stood at $39.20 million.
However, the adjusted EBITDA for the quarter stood at $76 million.
"Delivery on our program commitments in 2016 led to the accomplishment of several major program milestones and key wins of technology development contracts," said Eileen Drake, chief executive officer and president of Aerojet Rocketdyne Holdings, Inc. "Our improvement initiatives continued to gain momentum throughout the year, evidence of their effectiveness can be seen in our solid operating results. A strong finish in the fourth quarter generated annual sales growth coupled with solid margins and strong free cash flow providing me with confidence that the strategy that we have adopted provides a framework for growth and long-term stakeholder value creation."
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