Antares failure wipes out Aerojet’s 2nd quarter profits
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The settlement between Orbital ATK and Aerojet Rocketdyne over the failure of an Aerojet Russian engine that failed during an Antares launch has wiped out Aerojet’s entire second quarter profit.
The Rancho Cordova rocket engine maker reported a $38.1 million quarterly loss Tuesday, largely the result of a spectacular launchpad explosion last October that forced Aerojet to pay a hefty settlement to a key customer and prompted the end of a profitable supply contract. Aerojet, which has embarked on a cost-cutting program, said the third-quarter loss came to 62 cents a share. It compared to a year-ago loss of $9.9 million, or 18 cents a share.
The company’s stock has also been declining, probably linked to its loss of business to Blue Origin.
For many reasons, mostly political but partly ethical, I do not use Google, Facebook, Twitter. They practice corrupt business policies, while targeting conservative websites for censoring, facts repeatedly confirmed by news stories and by my sense that Facebook has taken action to prevent my readers from recommending Behind the Black to their friends.
Thus, I must have your direct support to keep this webpage alive. Not only does the money pay the bills, it gives me the freedom to speak honestly about science and culture, instead of being forced to write it as others demand.
Please consider donating by giving either a one-time contribution or a regular subscription, as outlined in the tip jar below.
Regular readers can support Behind The Black with a contribution via paypal:
If Paypal doesn't work for you, you can support Behind The Black directly by sending your donation by check, payable to Robert Zimmerman, to
Behind The Black
c/o Robert Zimmerman
P.O.Box 1262
Cortaro, AZ 85652
You can also support me by buying one of my books, as noted in the boxes interspersed throughout the webpage. And if you buy the books through the ebookit links, I get a larger cut and I get it sooner.
The settlement between Orbital ATK and Aerojet Rocketdyne over the failure of an Aerojet Russian engine that failed during an Antares launch has wiped out Aerojet’s entire second quarter profit.
The Rancho Cordova rocket engine maker reported a $38.1 million quarterly loss Tuesday, largely the result of a spectacular launchpad explosion last October that forced Aerojet to pay a hefty settlement to a key customer and prompted the end of a profitable supply contract. Aerojet, which has embarked on a cost-cutting program, said the third-quarter loss came to 62 cents a share. It compared to a year-ago loss of $9.9 million, or 18 cents a share.
The company’s stock has also been declining, probably linked to its loss of business to Blue Origin.
