GenCorp Slips To Loss In Q2 - Quick Facts

(RTTNews) - GenCorp Inc. (GY) reported that net loss for the second quarter of fiscal 2013 was $11.8 million, or $0.20 loss per share, compared to net income of $1.7 million, or $0.03 income per share, for the second quarter of fiscal 2012.

The net loss for the second quarter of fiscal 2013 compared to the comparable prior year period was primarily driven by the following: (i) $6.8 million increase in interest expense primarily related to the financing of the acquisition of United Technologies Corporation's Pratt & Whitney Rocketdyne; (ii) expenses of $6.4 million incurred in the second quarter of fiscal 2013 related to the acquisition the Rocketdyne Business; (iii) $5.8 million increase in non-cash retirement benefit expense; and (iv) $1.8 million increase in stock-based compensation primarily due to increases in the fair value of the Company's stock appreciation rights.

Net sales for the second quarter totaled $286.6 million up from $249.9 million in the year ago quarter.