gencorp inc (GY) Key Developments
GenCorp Inc. has Changed its Name to Aerojet Rocketdyne Holdings, Inc
Mar 10 15
GenCorp Inc. changed its name to Aerojet Rocketdyne Holdings, Inc.
GenCorp Appoints Eileen Drake as COO
Mar 2 15
GenCorp Inc. announced that effective March 2, 2015, Eileen Drake has joined the company as chief operating officer. Drake joins GenCorp from United Technologies Corporation (UTC), where she served as president of Pratt & Whitney AeroPower's auxiliary power unit and small turbojet propulsion business. In her prior positions at UTC, she served as the vice president of Operations, and also vice president of Quality, Environmental, Health & Safety, and Achieving Competitive Excellence (ACE) for UTC's Carrier Corporation, as well as for Pratt & Whitney.
GenCorp Inc. Appoints Lance W. Lord as Director
Feb 3 15
GenCorp Inc. announced that retired U.S. Air Force four-star General Lance W. Lord has joined its board of directors. Gen. Lord currently serves as
the chairman and chief executive officer of L2 Aerospace. Prior to retiring from the U.S. Air Force in 2006 after 37 years of service, Gen. Lord, 68, served as commander, Air Force Space Command at Peterson Air Force Base in Colorado. He was responsible for the development, acquisition and operation of the Air Force's space and missile systems.
GenCorp Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended November 30, 2014
Jan 30 15
GenCorp Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended November 30, 2014. Net sales for the fourth quarter of fiscal 2014 totaled $439.6 million compared to $485.3 million for the fourth quarter of fiscal 2013. Net income for the fourth quarter of fiscal 2014 was $10.1 million, or $0.15 diluted income per share, compared to a net loss of $3.7 million, or $0.06 loss per share, for the fourth quarter of fiscal 2013. Adjusted EBITDAP for the fourth quarter of fiscal 2014 was $63.4 million, or 14.4% of net sales, compared to $53.3 million, or 11.0% of net sales, for the fourth quarter of fiscal 2013. Cash provided by operating activities in the fourth quarter of fiscal 2014 totaled $116.3 million, compared to $51.1 million in the fourth quarter of fiscal 2013. Operating income was $36.5 million against $14.1 million a year ago. Income from continuing operations before income taxes was $22.9 million against $1.6 million a year ago.
Net sales for fiscal 2014 totaled $1,597.4 million compared to $1,383.1 million for fiscal 2013. Fiscal 2014 and 2013 results include 12 months and 5 1/2 months, respectively, of the Pratt & Whitney Rocketdyne division operating results. Net loss for fiscal 2014 was $53.0 million, or $0.92 loss per share, compared to net income of $167.9 million, or $2.11 diluted income per share, for fiscal 2013. The net loss for fiscal 2014 included pre-tax cost growth of $23.6 million on the Antares AJ-26 program and a pre-tax charge of $60.6 million related to the repurchase of $59.6 million of principal of the company's 4 1/16% Debentures. The net income for fiscal 2013 included a $193.9 million income tax benefit primarily associated with the release of deferred tax asset valuation allowance reserves. Adjusted EBITDAP for fiscal 2014 was $174.2 million, or 10.9% of net sales, compared to $155.6 million, or 11.3% of net sales, for fiscal 2013. Cash provided by operating activities in fiscal 2014 totaled $150.4 million, compared to $77.6 million in fiscal 2013. The cash generated from operating activities in fiscal 2014 included an increase of $94.1 million in cash advances on long-term contracts. Operating income was $13.2 million against $22.3 million a year ago. Loss from continuing operations before income taxes was $39.4 million against $26.2 million a year ago.
GenCorp Inc. announced delayed annual 10-K filing
Jan 30 15
On 01/30/2015, GenCorp Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC.