GenCorp Posts Q3 Pretax Loss From Cont. Ops. - Quick Facts

(RTTNews) - GenCorp Inc. (GY) reported a third-quarter loss from continuing operations before income taxes of $9.0 million, compared to a loss of $0.5 million, prior year.

The company reported net income of $197.4 million, or $2.39 per share for the quarter, compared to a net loss of $9.5 million, or $0.16 per share, prior year. The net income for the third quarter of fiscal 2013 was primarily driven by a $206.6 million income tax benefit primarily associated with the release of deferred tax asset valuation allowance reserves.

Net sales totaled $367.5 million, compared to $244.9 million for the third quarter of prior year.