Antares failure wipes out Aerojet’s 2nd quarter profits
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.
From the press release: From the moment he is handed a possibility of making the first alien contact, Saunders Maxwell decides he will do it, even if doing so takes him through hell and back.
Unfortunately, that is exactly where that journey takes him.
The vision that Zimmerman paints of vibrant human colonies on the Moon, Mars, the asteroids, and beyond, indomitably fighting the harsh lifeless environment of space to build new societies, captures perfectly the emerging space race we see today.
He also captures in Pioneer the heart of the human spirit, willing to push forward no matter the odds, no matter the cost. It is that spirit that will make the exploration of the heavens possible, forever, into the never-ending future.
Available everywhere for $3.99 (before discount) at amazon, Barnes & Noble, all ebook vendors, or direct from the ebook publisher, ebookit.
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.
From the press release: From the moment he is handed a possibility of making the first alien contact, Saunders Maxwell decides he will do it, even if doing so takes him through hell and back.
Unfortunately, that is exactly where that journey takes him.
The vision that Zimmerman paints of vibrant human colonies on the Moon, Mars, the asteroids, and beyond, indomitably fighting the harsh lifeless environment of space to build new societies, captures perfectly the emerging space race we see today.
He also captures in Pioneer the heart of the human spirit, willing to push forward no matter the odds, no matter the cost. It is that spirit that will make the exploration of the heavens possible, forever, into the never-ending future.
Available everywhere for $3.99 (before discount) at amazon, Barnes & Noble, all ebook vendors, or direct from the ebook publisher, ebookit.
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