American Pacific Corp. reports loss
American Pacific Corp., a Las Vegas-based chemical manufacturer that sells to NASA, on Wednesday reported a $1.4 million first-quarter loss or 19 cents a share, as revenues fell 25 percent. A year ago in the quarter ending Dec. 31, the company earned $500,000 or 6 cents a share.
Consolidated revenues decreased to $34.1 million from $45.6 million in the first quarter of last year.
Revenues in its fine chemicals segment dropped 53 percent and revenues in specialty chemicals plunged 26 percent, but revenues in the aerospace equipment segment jumped by 45 percent.
The company attributed the decline in fine chemical sales to the timing of customer orders.
A 46 percent decrease in perchlorate volume affected specialty chemical results, but a 27 percent increase in average price per pound of perchlorate offset the sales decrease. The biggest contributor to the specialty segment was product for the space shuttle reusable rocket motor program.
Aerospace equipment revenue grew mainly because of increased revenues from in-space propulsion engines.
American Pacific shares declined 2 cents or 0.3 percent to $6.47 on Nasdaq.
Contact reporter John G. Edwards at jedwards@reviewjournal.com or 702-383-0420.
