CareersCareers2015-01-23T16:05:00Z<img alt="" src="/SiteCollectionImages/DefaultPages/Careers_Thumb.png" style="BORDER:0px solid;" />True
Orbital ATK Introduces New Company To Investors and AnalystsOrbital ATK Introduces New Company To Investors and Analysts2015-02-19T06:00:00Z<span lang="EN"> <p align="CENTER" dir="LTR"> <strong>Senior Management Discusses Business Strategy and Market Trends</strong></p> <p align="CENTER" dir="LTR"> <strong>Calendar Year 2014 Pro-Forma Financial Information and Three-Year Outlook for Revenue and Earnings Growth Provided</strong></p> <p align="CENTER" dir="LTR"> <strong>Company Expected to Generate Approximately $1 Billion of Free Cash Flow in 2015-2017</strong></p></span><strong> </strong><span lang="EN"> <p align="JUSTIFY" dir="LTR"> <strong>Dulles, Virginia 19 February 2015 - </strong><span style="text-decoration:underline;">Orbital ATK, Inc.</span><span lang="EN"> (NYSE: OA), a global leader in aerospace and defense technologies, held a conference call with investors and analysts today to introduce the new company and its three-year financial outlook to the investment community. Orbital ATK was formed as a result of the merger of Orbital Sciences Corporation and the Aerospace and Defense Groups of ATK and began combined operations last week. The company has posted the presentation slides used for today’s call, as well as an updated general presentation for investors and analysts, on its </span><a href=""><span lang="EN"><span style="text-decoration:underline;">website</span></span></a><span lang="EN">. A transcript of today’s conference call will also be posted on the Orbital ATK web site as soon as it is available.</span></p></span> <p align="JUSTIFY" dir="LTR">During the call Orbital ATK’s President and Chief Executive Officer David W. Thompson reviewed the company’s business strategy of providing its customers with innovative, reliable and affordable products across domestic and international military, civil government and commercial markets. He highlighted several factors that are expected to create additional value for both customers and shareholders: cost reductions to be achieved through vertical integration and overhead efficiencies; expanded market opportunities to be pursued due to greater systems engineering know-how and strengthened technical and industrial resources; and substantial increases in capital deployment capacity to be available to improve returns to investors.</p> <p align="JUSTIFY" dir="LTR">Orbital ATK’s Chief Financial Officer Garrett E. Pierce provided a summary of the company’s adjusted unaudited pro-forma calendar year 2014 financial information in order to set a new baseline to measure future financial performance.* These results were as follows:</p> <ul><li>Revenues of ~$4,440 million</li><li>EBITDA of ~$600 million </li><li>EBIT ~$440 million</li><li>Net Income ~$250 million </li><li>Earnings Per Share ~$4.20</li></ul> <em> </em> <p align="JUSTIFY" dir="LTR">Over the next three years, Mr. Pierce said the company is targeting to achieve the following financial goals:*</p> <ul dir="ltr"><li><div align="JUSTIFY">Consolidated revenue growth of ~4-5% on a compound annual growth rate (CAGR) basis, including growth due to revenue synergies in 2016 and 2017</div></li><li>EBITDA growth of ~8-10% (CAGR)</li><li>Earnings per share growth of ~12-15% (CAGR) </li><li>Cumulative three-year free cash flow of ~$1 billion </li></ul> <em> <p align="JUSTIFY" dir="LTR">* See non-GAAP reconciliation table below</p> </em> <p align="JUSTIFY" dir="LTR">Orbital ATK’s Chief Operating Officer Blake E. Larson reviewed the company’s organizational structure and senior management team, as well as updated progress on the merger integration and synergy capture. Mr. Larson stated the company is on track to realize its cost synergy targets of $70 to 100 million per year by 2016. He also said the company expects to achieve its $150 to $200 million annual revenue synergy target by late 2016 or early 2017. </p> <strong> <p align="JUSTIFY" dir="LTR">About Orbital ATK</p></strong> <p align="JUSTIFY" dir="LTR">Orbital ATK is a global leader in aerospace and defense technologies. The company designs, builds and delivers space, defense and aviation systems for customers around the world, both as a prime contractor and merchant supplier. Its main products include launch vehicles and related propulsion systems; missile products, subsystems and defense electronics; precision weapons, armament systems and ammunition; satellites and associated space components and services; and advanced aerospace structures. Headquartered in Dulles, Virginia, Orbital ATK employs more than 12,000 people in 20 states across the U.S. and in several international locations. For more information, visit: <span style="text-decoration:underline;"></span><span lang="EN">.</span></p> <p align="JUSTIFY" dir="LTR"> <a href=""> <span lang="EN"> </span></a><strong>"Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995</strong><br> Certain statements in this communication may be "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Words or phrases such as "may," "will," "expected," "intend," "estimate," "anticipate," "believe," "project," or "continue," and similar expressions are used to identify these forward-looking statements. All such forward-looking statements involve estimates and assumptions that are subject to risks, uncertainties and other factors that could cause actual results to differ materially from the results expressed in the statements. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements include the possibility that Orbital ATK may be unable to achieve expected synergies and operating efficiencies following the merger within the expected time-frames or at all and to successfully integrate Orbital’s operations with those of the ATK Aerospace & Defense business; the integration of Orbital’s operations with those of ATK A&D being more difficult, time-consuming or costly than expected; operating costs, customer loss and business disruption that might result from the merger; potential difficulties in retaining key employees; Orbital ATK’s ability to maintain and grow its relationship with its customers; reductions or changes in U.S. Government military or NASA spending; timing of payments and budgetary policies, including impacts of sequestration under the Budget Control Act of 2011; changes in cost and revenue estimates and/or timing of programs; the potential termination of U.S. Government contracts and the potential inability to recover termination costs; the impact of a recent Antares launch failure; costs of servicing debt, including cash requirements and interest rate fluctuations; supply, availability, and costs of raw materials and components, including commodity price fluctuations; performance of subcontractors; development of key technologies and retention of a qualified workforce; and the costs and ultimate outcome of litigation matters and other legal proceedings. Additional information concerning these and other factors can be found in Orbital ATK’s filings with the Securities and Exchange Commission, including Orbital ATK’s most recent Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, and Orbital ATK’s registration statement on Form S-4. Orbital ATK assumes no obligation to update or revise publicly the information in this communication, whether as a result of new information, future events or otherwise, except as required by law. <br><br><strong>Non-GAAP Reconciliation Table:</strong><br> </p><table width="100%" dir="LTR" border="1" cellspacing="0" cellpadding="7"><tbody><tr><td width="35%" valign="TOP"> <span lang="EN"> <p align="LEFT" dir="LTR">($ in millions) </p></span> </td><td width="13%" valign="TOP"></td><td width="13%" valign="TOP"></td><td width="12%" valign="TOP"></td><td width="14%" valign="TOP"></td><td width="13%" valign="TOP"></td></tr><tr><td width="35%" valign="TOP"></td><td width="13%" valign="TOP"> <strong><span lang="EN"> <p align="CENTER" dir="LTR">Revenue</p></span></strong> </td><td width="13%" valign="TOP"> <strong><span lang="EN"> <p align="CENTER" dir="LTR">EBITDA*</p></span></strong> </td><td width="12%" valign="TOP"> <strong><span lang="EN"> <p align="CENTER" dir="LTR">EBIT*</p></span></strong> </td><td width="14%" valign="TOP"> <strong><span lang="EN"> <p align="CENTER" dir="LTR">Net Income</p></span></strong> </td><td width="13%" valign="TOP"> <strong><span lang="EN"> <p align="CENTER" dir="LTR"> EPS</p></span></strong> </td></tr><tr><td width="35%" valign="TOP"> <strong><span lang="EN"> <p align="LEFT" dir="LTR">Preliminary Results (Unaudited) </p></span></strong> </td><td width="13%" valign="TOP"> <strong><span lang="EN"> <p align="RIGHT" dir="LTR">$4,469</p></span></strong> </td><td width="13%" valign="TOP"> <strong><span lang="EN"> <p align="RIGHT" dir="LTR">$594</p></span></strong> </td><td width="12%" valign="TOP"> <strong><span lang="EN"> <p align="RIGHT" dir="LTR">$479</p></span></strong> </td><td width="14%" valign="TOP"> <strong><span lang="EN"> <p align="RIGHT" dir="LTR">$276</p></span></strong> </td><td width="13%" valign="TOP"> <strong><span lang="EN"> <p align="RIGHT" dir="LTR">$4.65</p></span></strong> </td></tr><tr><td width="35%" valign="TOP"> <span lang="EN"> <p align="LEFT" dir="LTR">Pro Forma Purchase Accounting <br> Amortization</p></span> </td><td width="13%" valign="TOP"> <span lang="EN"> <p align="RIGHT" dir="LTR">-</p></span> </td><td width="13%" valign="TOP"> <span lang="EN"> <p align="RIGHT" dir="LTR">-</p></span> </td><td width="12%" valign="TOP"> <span lang="EN"> <p align="RIGHT" dir="LTR">(50)</p></span> </td><td width="14%" valign="TOP"> <span lang="EN"> <p align="RIGHT" dir="LTR">(33)</p></span> </td><td width="13%" valign="TOP"> <span lang="EN"> <p align="RIGHT" dir="LTR">(0.56)</p></span> </td></tr><tr><td width="35%" valign="TOP"> <span lang="EN"> <p align="LEFT" dir="LTR">Radford Pension Adjustment </p></span> </td><td width="13%" valign="TOP"> <span lang="EN"> <p align="RIGHT" dir="LTR">(31)</p></span> </td><td width="13%" valign="TOP"> <span lang="EN"> <p align="RIGHT" dir="LTR">(31)</p></span> </td><td width="12%" valign="TOP"> <span lang="EN"> <p align="RIGHT" dir="LTR">(31)</p></span> </td><td width="14%" valign="TOP"> <span lang="EN"> <p align="RIGHT" dir="LTR">(20)</p></span> </td><td width="13%" valign="TOP"> <span lang="EN"> <p align="RIGHT" dir="LTR">(0.34)</p></span> </td></tr><tr><td width="35%" valign="TOP"> <span lang="EN"> <p align="LEFT" dir="LTR">Environmental Settlement</p></span></td><td width="13%" valign="TOP"> <span lang="EN"> <p align="RIGHT" dir="LTR">-</p></span> </td><td width="13%" valign="TOP"> <span lang="EN"> <p align="RIGHT" dir="LTR">2</p></span> </td><td width="12%" valign="TOP"> <span lang="EN"> <p align="RIGHT" dir="LTR">2</p></span> </td><td width="14%" valign="TOP"> <span lang="EN"> <p align="RIGHT" dir="LTR">1</p></span> </td><td width="13%" valign="TOP"> <span lang="EN"> <p align="RIGHT" dir="LTR">0.02</p></span> </td></tr><tr><td width="35%" valign="TOP"> <span lang="EN"> <p align="LEFT" dir="LTR">Building Impairment</p></span> </td><td width="13%" valign="TOP"> <span lang="EN"> <p align="RIGHT" dir="LTR">-</p></span> </td><td width="13%" valign="TOP"> <span lang="EN"> <p align="RIGHT" dir="LTR">9</p></span> </td><td width="12%" valign="TOP"> <span lang="EN"> <p align="RIGHT" dir="LTR">9</p></span> </td><td width="14%" valign="TOP"> <span lang="EN"> <p align="RIGHT" dir="LTR">6</p></span> </td><td width="13%" valign="TOP"> <span lang="EN"> <p align="RIGHT" dir="LTR">0.10</p></span> </td></tr><tr><td width="35%" valign="TOP"> <span lang="EN"> <p align="LEFT" dir="LTR">Transaction Expenses</p></span> </td><td width="13%" valign="TOP"> <span lang="EN"> <p align="RIGHT" dir="LTR">-</p></span> </td><td width="13%" valign="TOP"> <span lang="EN"> <p align="RIGHT" dir="LTR">29</p></span> </td><td width="12%" valign="TOP"> <span lang="EN"> <p align="RIGHT" dir="LTR">29</p></span> </td><td width="14%" valign="TOP"> <span lang="EN"> <p align="RIGHT" dir="LTR">19</p></span> </td><td width="13%" valign="TOP"> <span lang="EN"> <p align="RIGHT" dir="LTR">0.33</p></span> </td></tr><tr><td width="35%" valign="TOP"> <strong><span lang="EN"> <p align="LEFT" dir="LTR">Pro Forma Results (Unaudited)</p></span></strong> </td><td width="13%" valign="TOP"> <strong><span lang="EN"> <p align="RIGHT" dir="LTR">$4,438</p></span></strong> </td><td width="13%" valign="TOP"> <strong><span lang="EN"> <p align="RIGHT" dir="LTR">$603</p></span></strong> </td><td width="12%" valign="TOP"> <strong><span lang="EN"> <p align="RIGHT" dir="LTR">$438</p></span></strong> </td><td width="14%" valign="TOP"> <strong><span lang="EN"> <p align="RIGHT" dir="LTR">$249</p></span></strong> </td><td width="13%" valign="TOP"> <strong><span lang="EN"> <p align="RIGHT" dir="LTR">$4.20</p></span></strong> </td></tr><tr><td valign="TOP" colspan="6"> <span lang="EN"> <p align="LEFT" dir="LTR">*All Numbers Above Are Preliminary, Unaudited and Subject to Change. EBIT = Net Income + Income Tax Provision + <br> Net Interest Expense. EBITDA = EBIT + Depreciation + Amortization</p></span> </td></tr></tbody></table>GP0|#10000000-0000-0000-0000-000000000025;L0|#010000000-0000-0000-0000-000000000025|News Release - OrbitalATK;GTSet|#10000000-0000-0000-0000-000000000002True
Five-Segment Motor Static Test For SLS Program To Move America One Step Closer to a Journey to MarsFive-Segment Motor Static Test For SLS Program To Move America One Step Closer to a Journey to Mars2015-02-25T06:00:00Z<p>Orbital ATK manufactures the twin five-segment solid rocket motors that will help boost NASA's new heavy-lift Space Launch System (SLS) out of Earth's gravity. On March 11, a major milestone will be reached with a static test of the motor, Qualification Motor-1 (QM-1), at Orbital ATK's T-97 test stand in Promontory, Utah. Engineers, operators, inspectors and program managers across Orbital ATK's Flight Systems Group have spent months getting ready for this milestone event, which will move America's space program one step closer toward deep space exploration missions.</p><p style="text-align:center;"> <img src="/SiteCollectionImages/NewsRoom/InsideOrbitalATK/QM-1_Feb20_2015-003.png" alt="" style="margin:0px;" /> </p><div style="text-align:center;"> <span lang="EN"> <p dir="LTR"> <strong>Orbital ATK’s five segment rocket motor is assembled in its Promontory, Utah, test stand<br>where it is being conditioned for the March 11 ground test.</strong></p></span></div><p>In preparation for the test, the Marshall Space Flight Center (MSFC) Test Readiness Review (TRR) was successfully held Feb. 10-11 at MSFC in Huntsville, Alabama. Pending satisfactory completion of normal operations flow and open items identified from this review, the SLS booster test hardware will be ready to support the March 11 QM-1 static firing. </p><p>"The crew officially starts daily countdown test runs of the systems this week, at T-15 days," said Kevin Rees, director, Test & Research Operations at Orbital ATK. "These checks, along with other test stand calibrations, will verify all systems are ready for the static test. Our team is prepared and we are proud to play such a significant role on this program."</p><p>The qualification motor is nearing completion of its build-up in the T-97 test stand. All five segments of the solid rocket booster have been meticulously cleaned, insulated, cast full of propellant and stacked horizontally on the test stand. Team members have spent months planning to ensure everything is in place and ready to go for the test. Instrumentation gages and sensors are being connected, tested and verified to assure that as much test data as possible is captured. </p><p>Prior to the test, QM-1 is housed in a large, movable structure that has its own steam plant to provide heat to the building. The current temperature in this facility is 100 degrees F, and the QM-1 booster is being conditioned daily in order to reach a propellant mean bulk temperature of 90 (+/- 5) degrees F. Maintaining strict temperature control is essential because the QM-1 test is designed to qualify the booster's performance at the highest end of its accepted temperature range.</p><p>For the test itself, more than 500 instrumentation channels will be used to help evaluate more than 100 defined test objectives. In addition to the recorded data, an extensive post-fire disassembly inspection will be conducted, allowing engineers to further analyze booster component performance.</p><p>Many space enthusiasts will make the trip to Promontory, Utah, to witness this first qualification test of the SLS solid rocket motor. Public and VIP viewing areas are being set up and all involved are anxiously awaiting not only test day, but also looking forward to the first launch of the entire SLS vehicle in just a few years. </p><p>To read more about the Orbital ATK-manufactured five-segment boosters and NASA's Space Launch System, visit the following websites:</p><p> <a href=""><span lang="EN" dir="ltr" style="text-decoration:underline;"></span></a> </p><p> <a href=""> <span lang="EN" dir="ltr" style="text-decoration:underline;"></span></a> </p><p> <a href=""> <span lang="EN" dir="ltr" style="text-decoration:underline;"></span></a></p><p> <a href=""><span lang="EN" dir="ltr" style="text-decoration:underline;"></span></a></p><img alt="" src="/SiteCollectionImages/NewsRoom/InsideOrbitalATK/QM-1_Feb20_2015-003_t.png" style="BORDER:0px solid;" />GP0|#10000000-0000-0000-0000-000000000022;L0|#010000000-0000-0000-0000-000000000022|Inside Orbital ATK;GTSet|#10000000-0000-0000-0000-000000000002True
Dawn Returns New Images of Ceres Revealing Multiple “Bright Spots”Dawn Returns New Images of Ceres Revealing Multiple “Bright Spots”2015-02-26T06:00:00Z<p>NASA's Dawn spacecraft, designed and built by Orbital ATK, has returned the sharpest images yet of the surface of dwarf planet Ceres, revealing that the planetary body's bright spot has a similar companion bright area. So far, these unusual areas cannot be explained. Investigators at NASA's Jet Propulsion Laboratory (JPL) have only speculated on the spots' origins, and will wait until the spacecraft is closer to the dwarf planet to make a determination.</p><p>The Dawn spacecraft is eight years into a mission that began in an Orbital ATK assembly bay, and is now only 29,000 miles (46,000 kilometers) from achieving orbit with the enigmatic dwarf planet. That rendezvous is scheduled to occur on March 6. The spacecraft's ion engines, which were integrated by Orbital ATK, are helping to enable Dawn's unique mission profile to visit two bodies in the asteroid belt. </p><p>Dawn's mission is managed by JPL for NASA's Science Mission Directorate in Washington. Dawn is a project of the directorate's Discovery Program, managed by NASA's Marshall Space Flight Center in Huntsville, Alabama. UCLA is responsible for overall Dawn mission science. Orbital ATK, Inc., in Dulles, Virginia, designed and built the spacecraft. The German Aerospace Center, the Max Planck Institute for Solar System Research, the Italian Space Agency and the Italian National Astrophysical Institute are international partners on the mission team.</p><p style="text-align:center;"> <img src="/SiteCollectionImages/NewsRoom/FeatureStories/dawn_moon_2.jpg" alt="" style="margin:5px;width:792px;" /> </p><p style="text-align:center;"><strong>Taken by NASA's Dawn spacecraft on Feb. 19, 2015,<br>these images capture the planetary body Ceres from a distance of about 29,000 miles (46,000 kilometers)</strong></p><div style="text-align:center;"><div> <strong>  Image Credit: </strong></div><div>  NASA/JPL-Caltech/UCLA/MPS/DLR/IDA</div></div><img alt="" src="/SiteCollectionImages/NewsRoom/FeatureStories/MissionUpdate_DawnCeres.jpg" style="BORDER:0px solid;" />GP0|#10000000-0000-0000-0000-000000000021;L0|#010000000-0000-0000-0000-000000000021|Feature Story;GTSet|#10000000-0000-0000-0000-000000000002True