Orbital ATK Marks Its One-Year Anniversary
February 10 2016 - 8:30AM
Business Wire
Record New Orders and Important Operational
Successes Achieved in All Business Groups Over Last 12
Months
Company Well-Positioned for Future Growth
Following 2015 Merger
Orbital ATK, Inc. (NYSE: OA), a global leader in aerospace and
defense technologies, today marks its first full year of combined
operations following the completion of the merger between Orbital
Sciences Corporation and Alliant Techsystems, Inc. in February
2015. The merger brought into existence a new $4.5 billion space,
defense and aviation systems manufacturer that employs
approximately 12,000 people in 18 states across the U.S.
“Our customers, shareholders and employees are already seeing
tremendous value in the new Orbital ATK,” said President and Chief
Executive Officer David W. Thompson. “The merger combined the
leading space and launch systems integration know-how of Orbital
with the world-class product development and manufacturing
capabilities of ATK’s aerospace and defense businesses.”
“The historic strengths of these two companies have allowed us
to create new products, increase operating efficiencies, provide
strong returns for our shareholders, and develop a deep bench of
talent that we are only beginning to tap into. We especially
appreciate all the support our customers have shown us in our first
year as Orbital ATK, leading to record new orders for the company
over the last 12 months,” Thompson added.
During its inaugural year, Orbital ATK’s three Operating Groups
all realized significant accomplishments, including these
highlights:
- Flight Systems
Group (FSG) – FSG carried out 14 major rocket launches for
the Missile Defense Agency, the U.S. Air Force and the U.S. Navy
and supported seven additional ground and flight tests of major
rocket propulsion systems for NASA and the Department of Defense.
The group also made good progress in re-engining the Antares rocket
for its return to flight in 2016. In addition, FSG produced and
delivered about 70 space and strategic rocket motors and built over
40,000 aerospace composite structures for key military and
commercial aircraft programs.
- Defense Systems
Group (DSG) – DSG produced 175 advanced tactical missiles,
built over 3,000 medium-caliber guns and precision guidance kits,
and manufactured approximately 1.4 million tactical rocket motors,
warheads and fuzes. The group also produced over 1.1 billion rounds
of small- and medium-caliber ammunition and expanded its
international sales, which reached 25% of the group’s revenue in
2015 as it opened regional offices in Saudi Arabia and United Arab
Emirates to increase its presence in the region.
- Space Systems
Group (SSG) – SSG completed and delivered five satellites
and saw its backlog expand to over 20 additional spacecraft in
development or production. Late last year, the group reinstated
cargo delivery missions to the International Space Station with the
successful launch, rendezvous and berthing operations of its Cygnus
spacecraft. In addition, SSG also carried out 27 research rocket
and scientific balloon flights for NASA and produced over 800 space
components and subsystems for a wide variety of commercial and
government satellites.
“By the end of 2015, we had completed over 95% of some 1,350
pre- and post-merger integration milestones and achieved revenue
and cost synergies that exceeded our first year plans,” said Blake
E. Larson, Orbital ATK’s Chief Operating Officer. “As we begin
2016, our focus is on continued operational excellence and
providing great service to our customers who count on us for their
important programs.”
“We have a tremendous workforce, and I am proud of what we have
done together in our first year of combined operations. Our team
now stands ready to meet the challenges of 2016 and for many years
to come,” Larson added.
Click HERE for a video overview of the company’s first year.
About Orbital ATK
Orbital ATK is a global leader in aerospace and defense
technologies. The company designs, builds and delivers space,
defense and aviation systems for customers around the world, both
as a prime contractor and merchant supplier. Its main products
include launch vehicles and related propulsion systems; missile
products, subsystems and defense electronics; precision weapons,
armament systems and ammunition; satellites and associated space
components and services; and advanced aerospace structures.
Headquartered in Dulles, Virginia, Orbital ATK employs
approximately 12,000 people in 18 states across the U.S. and in
several international locations. For more information, visit
www.orbitalatk.com.
“Safe Harbor” Statement Under the Private Securities
Litigation Reform Act of 1995
Certain statements in this press release may be “forward-looking
statements” as defined by the Private Securities Litigation Reform
Act of 1995. Forward-looking statements often include the words
“forecast,” “expect,” “believe,” “will,” “intend,” “plan,” and
words of similar substance. Such forward-looking statements are
subject to risks and uncertainties that could cause actual results
or performance to differ, including the following: potential
difficulties in achieving expected merger synergies and
efficiencies within the expected time-frames or at all; the
integration of business operations being more difficult,
time-consuming or costly than expected; operating costs, customer
loss and business disruption that might result from the merger;
potential difficulties in retaining key employees; the company’s
ability to maintain and grow its relationship with its customers;
reductions or changes in U.S. Government military or NASA spending,
including impacts of sequestration under the Budget Control Act of
2011; changes in cost and revenue estimates and/or timing of
programs and payments; the potential termination of U.S. Government
contracts; the impact of the Antares launch failure; failure to win
or retain key contracts; costs of servicing debt, including cash
requirements and interest rate fluctuations; the company’s capital
deployment strategy, including share repurchases and dividend
payments; actual pension asset returns and assumptions regarding
future returns, discount rates and service costs; supply,
availability, and costs of raw materials and components, including
commodity price fluctuations; performance of subcontractors and
other third parties; development of key technologies; and the costs
and ultimate outcome of contingencies, including litigation,
government investigations and other legal proceedings. Additional
information concerning these and other factors can be found in
Orbital ATK’s filings with the Securities and Exchange Commission.
Orbital ATK undertakes no obligation to update any forward-looking
statements.
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Orbital ATKMedia Contact:Sean Wilson,
832-415-1254Corporate
Communicationssean.wilson@orbitalatk.comorInvestor
Contact:Barron Beneski, 703-406-5528Public and Investor
Relationsbarron.beneski@orbitalatk.com
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