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
Our customers, shareholders and employees are already seeing tremendous
value in the new Orbital ATK, said President and Chief Executive
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
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 Forceand the U.S. Navyand supported seven additional ground and flight tests of major rocket propulsion systems for NASAand 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 Arabiaand United Arab Emiratesto 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 Stationwith 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 NASAand 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
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.
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
Sean Wilson, 832-415-1254
Barron Beneski, 703-406-5528
Public and Investor Relations