RTTNews | Jul 28, 2020 10:38AM EDT

10:38 Tuesday, July 28, 2020 (RTTNews.com) - Aerojet Rocketdyne Holdings, Inc. (AJRD) shares are rising more than 14 percent as the company's quarterly earnings surpassed the Street estimates.

The company reported net income of $39.2 million or $0.47 per share, down from $44.1 million or $0.54 in the prior year. On an adjusted basis, earnings were $38.5 or $0.46 per share. Analysts on average were looking for earnings of 0.45 per share.

Net sales for the second quarter climbed to $512.4 million from $485.0 million in the prior year. Street analysts were looking for sales at $516.23 million. AJRD is currently at $42.06, up 14.28 percent from its previous close of $36.81.

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