GenCorp releases fourth-quarter, year-end earnings

SACRAMENTO, Calif.(Jan. 22)—Strong turnaround in automotive vehicle sealing margins and increased operating profits at Aerojet-General Corp. helped GenCorp Inc. turn in much-improved earnings for the fourth quarter and year end. GenCorp posted net income of $6.6 million on net sales of $277.5 million on continuing operations for the three months ended Nov. 30, compared to net income of $2.6 million on sales of $255.5 million for the fourth quarter of fiscal 1999. For the year, GenCorp realized $129 million in net income from continuing operations on sales of $1.05 billion vs. net income of $72.7 million on net sales of $1.07 billion last year.