gencorp inc (GCY) Snapshot

GenCorp Inc. announced the appointment of Jim Maser as vice president for Corporate Strategy and Development for the company. Reporting to GenCorp's President and CEO Scott Seymour, Maser will focus on the growth of GenCorp's business base and shareholder value. Prior to serving as PWR's president, Maser was the president and general manager of the Sea Launch Company, and president and chief operating officer for Space Exploration Technologies.

GenCorp Inc. announced that John Schumacher will join the GenCorp team as vice president for Business Relations. He will be responsible for developing aerospace and defense focused government relations and implementing business growth plans globally for the company. In this role, Schumacher will also support Aerojet-General Corporation, a GenCorp subsidiary, working closely with Aerojet President Warren Boley and Aerojet's Washington Operations. Schumacher comes to the company from EADS North America where he was responsible for providing Astrium's global space capabilities to the North American market. He led the creation of Astrium Americas.

GenCorp Inc. announced unaudited condensed consolidated earnings results for the first quarter ended February 28, 2013. For the quarter, the company's net sales were $243.7 million against $201.9 million a year ago. Operating income was $1.9 million against $10.5 million a year ago. Loss from continuing operations before income taxes was $9.2 million against income from continuing operations before income taxes of $4.7 million a year ago. Loss from continuing operations was $14.1 million against income from continuing operations of $2.4 million a year ago. Net loss was $14.0 million or $0.24 per basic and diluted per share against net income of $2.4 million or $0.04 per basic and diluted per share a year ago. Net cash provided by operating activities was $6.9 million against $18.0 million a year ago. Capital expenditures were $9.1 million against $3.6 million a year ago. Adjusted EBITDAP was $29.8 million against $26.2 million a year ago. Negative free cash flow was $2.2 million against free cash flow of $14.4 million a year ago. Net debt as of February 28, 2013 was $101.4 million against $124.3 million a year ago. The increase in Net Sales were primarily due to an increase of $32.6 million in the various Standard Missile programs primarily from increased deliveries on the Standard Missile-1 Regrain program and increased development activities for the Throttling Divert and Attitude Control System for the Standard Missile-3 Block IIA program and increased deliveries on the Terminal High Altitude Area Defense program generating $14.1 million in additional net sales.