FARMINGTON HILLS, Mich. (Oct. 6)—GenCorp today reported a third-quarter loss of $2 million compared with earnings of $8 million during the same quarter of 2002. Sales for the quarter and year to date both were up 6 percent at $283 million and $869 million, respectively. The revenue gains were because of an acquisition in its Aerojet business and a $15 million real estate sale during the quarter. The firm's GDX Automotive unit, however, experienced higher than expected volume declines and launch costs on new platforms. Terry Hall, GenCorp CEO and president, said GenCorp is "disappointed" with GDX and is taking immediate steps to bring it back to profitability in the fourth quarter.
GenCorp reports $2 million loss for third quarter
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