MORTON THIOKOL Inc. reported record results for its fiscal second quarter and first six months, ended Dec. 31, largely because of strong results in the company`s aerospace group.
Income from continuing operations in the second quarter was $29.4 million, or 58 cents a share, up 23 percent from last year`s $23.9 million, or 47 cents a share.
Net income in the quarter from total operations, including a loss from discontinued household products operations, was $28 million, or 55 cents a share, up 10 percent from $25.3 million, or 50 cents a share.
In the six months, income from continuing operations totaled $59.5 million, or $1.16 a share, up 18 percent from $49.8 million, or 98 cents a share. Net income was $63 million, or $1.23 a share, in the first half, a 14 percent increase from $54.9 million, or $1.08 a share.
Charles S. Locke, Morton Thiokol chairman and chief executive officer, said the company`s aerospace group reported that second-quarter sales rose 31 percent and profits gained 54 percent.
