GenCorp fiscal 2nd-quarter profit jumps 59 percent, helped by lower costs

GenCorp 2Q profit surges 59 percent on lower costs

SACRAMENTO, Calif. — GenCorp Inc. said Tuesday that its fiscal second-quarter profit surged 59 percent, helped by lower costs.

The aerospace supplier and manager of a real-estate portfolio earned $11 million, or 18 cents per share, for the period ended May 31. That compares with $6.9 million, or 12 cents per share, a year ago.

Income from continuing operations jumped to $12.4 million, or 20 cents per share.

Total operating costs declined to $163.1 million from $182.3 million.

Sales slipped 6 percent to $183 million from $194.7 million, mostly due to a $10 million land sale in the prior-year period.

GenCorp’s stock added 29 cents, or 15.8 percent, to $2.13 in afternoon trading. Over the past year, the shares have traded in a range of $1.80 to $9.30.