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Orbital ATK Announces Fourth Quarter and Full Year 2016 Financial Results

By Kendall Russell | March 10, 2017

      Orbital ATK announced preliminary unaudited financial results for the fourth quarter and full year ended Dec. 31, 2016. The company reported Generally Accepted Accounting Principles (GAAP) revenues of $1,272 million for the fourth quarter of 2016, up 11 percent compared to $1,145 million in the fourth quarter of 2015. GAAP income from continuing operations, before interest, income taxes and non-controlling interest (which the company refers to as operating income) was $114.9 million, or 9 percent operating margin, for the fourth quarter of 2016 compared to $94.3 million or 8.2 percent operating margin, in the comparable 2015 period.

      Orbital ATK reported GAAP earnings per diluted share of $1.08 and $0.89 in the fourth quarters of 2016 and 2015, respectively. Free cash flow, which is a non-GAAP measure defined as GAAP cash from operating activities ($414.7 million) minus capital expenditures ($84.5 million), was $330.2 million in the fourth quarter of 2016 compared to $122.2 million in the fourth quarter of 2015.