Orbital ATK, Inc. (OA), a global leader in aerospace and defense technologies, today announced both GAAP and adjusted financial results for the third calendar quarter ended October 4, 2015. In addition to GAAP results, the company is presenting adjusted results because it believes these non-GAAP metrics are useful to understand the underlying operating performance of the company by including the pre-merger Orbital and ATK Aerospace and Defense results in comparable periods and excluding significant transaction and merger-related expenses and other non-operational expenses in all periods (for details see reconciliation tables at the end of this release).
Orbital ATK reported adjusted revenues of $1,135 million in the third quarter of 2015 compared to adjusted revenues of $1,112 million in the comparable period of 2014. Adjusted operating income and profit margin were $134.9 million and 11.9%, respectively, in the third quarter of 2015, compared to $120.5 million and 10.8%, respectively, in the same quarter of 2014. Adjusted earnings per share in the quarter were $1.35, compared to $1.15 in the same period of 2014. Adjusted free cash flow was $114.7 million in the quarter ended October 4, 2015.
The company reported GAAP revenues of $1,135 million for the third quarter of 2015 compared to $743 million in the same quarter in 2014. GAAP operating income and profit margin were $123.9 million and 10.9%, respectively, in the quarter compared to operating income from continuing operations and profit margin of $80.2 million and 10.8%, respectively, in the same period last year. The company reported GAAP earnings per diluted share of $1.12 in the 2015 third quarter compared to earnings per diluted share of $1.29 in the 2014 third quarter. Free cash flow was $113.8 million in the quarter ended October 4, 2015.
The adjusted financial results contained in this press release are non-GAAP financial measures and are adjusted to give effect to the merger of Orbital Sciences Corporation (Orbital) and Alliant Techsystems Inc. (ATK) on February 9, 2015 as if it had occurred on January 1, 2014. In addition, adjusted results exclude significant transaction and merger-related expenses and other non-operational expenses in all periods. Please refer to the reconciliation tables contained in the Disclosure of Non-GAAP Financial Measures section of this press release for more details on those adjustments.
Orbital ATKs third quarter was a period of solid progress for the company on multiple fronts, said David W. Thompson, Orbital ATKs President and Chief Executive Officer. In addition to better-than-expected financial results, we also booked near-record new orders that included several large and strategically important contracts, such as our first major synergy-enabled win. The company also continued its outstanding execution on our existing major programs. Looking ahead to the fourth quarter, we anticipate another period of robust new order activity and operational milestones, including our next cargo delivery mission to the International Space Station for NASA.
For the first nine months of calendar year 2015, the company reported adjusted revenues of $3,381 million, adjusted operating income and profit margin of $383.1 million and 11.3%, respectively, adjusted earnings per share of $3.77 and adjusted free cash flow of $167.9 million.
