A 5 percent revenue surge helped rocket-engine manufacturer Aerojet Rocketdyne shave third-quarter red ink by more than $36 million, despite big debt redemption expenses in the quarter.
Aerojet’s revenue totaled $463.8 million in the latest quarter.
Non-recurring charges in the quarter included a pretax charge of $34.1 million for debt redemption and a pretax expense of $16.4 million associated with environmental remediation requirements.
The El Segundo, Calif.-based company realigned its core business units in June and also shifted corporate headquarters from Rancho Cordova, Calif.
Aerojet announced its finanial results after the close of stock market trading on Nov. 1, when company shares (NYSE:AJRD) closed down 4 cents at $17.56. That’s just below mid-range of a 52-week price range of $13.98-$19.5.
Aerojet recently announced that Paul Lundstrom will join the company as vice president finance-CFO on Nov. 7.
Lundstrom, who will report to CEO Eileen Drake at corporate headquarters in El Segundo, previously spent 19 years with United Technologies, most recently serving as vice president investor relations. He succeeds Kathy Redd, who will remain with Aerojet through a transition period.