Aerojet Rocketdyne Holdings Inc. (AJRD) 2017年年度报告「NYSE」.pdf

1、2017 ANNUAL REPORT1,3781,6021,7081,7611,877$0$400$800$1,200$1,600$2,00020132014201520162017198266211410555$0$120$240$360$480$60020132014201520162017502516441315116$0$120$240$360$480$600201320142015201620172,5333,0614,0794,4594,636$0$1,000$2,000$3,000$4,000$5,000201320142015201620171,6742,2342,3942,3

2、132,127$0$500$1,000$1,500$2,000$2,500201320142015201620171461812192022258%9%10%11%12%13%14%15%16%$0$50$100$150$200$25020132014201520162017Adjusted EBITDAPAdjusted EBITDAP MarginNet SalesAdjusted EBITDAP(1)Total Contract BacklogFunded BacklogCash,Cash Equivalentsand Marketable SecuritiesNet Debt(2)Ae

3、rojet Rocketdyne Holdings Financial Performance Highlights(In millions,except percentage amounts)Notes:(1)Non-GAAP Measure.The Company defines Adjusted EBITDAP as GAAP net income(loss)adjusted to exclude income taxes,interest expense,interest income,depreciation and amortization,retirement benefit e

4、xpense net of cash funding that is recoverable under our U.S.government contracts and unusual items.(2)Non-GAAP Measure.Defined as debt principal less cash and marketable securities.DEARFRELLOW SHAREHOLDERS,I am pleased to report that 2017 was a strong year for Aerojet Rocketdyne.?FINANCIALRESULTS A

5、NDOUTLOOK?future.?success.?Revenue growth,coupled with much improved cost management and risk reduction activities across several key programs,grew our operating income by 20%to$114 million.?COMPETITIVEIMPROVEMENTPROGRAM?OURENDMARKETS?SPACEPROGRAMS?We are well on our way toreaching our total annual

6、savings goal of$230 millionby 2021.?f?DEFENSEPROGRAMS?QUALITY?We also completed testing of the the four RS-25 main enginesand the RL10B-2 upper-stage engine that will help power the launch of NASAs Space Launch System rocket during its?SAFETY AND THEENVIRONMENT?REALESTATE?GIVING BACK?UNITED STATESSE