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AP sales, earnings flat — shuttle work continues

Thursday, May 1, 2003 | 11:26 a.m.

A Las Vegas company that manufactures a chemical used to make space shuttle fuel says it has not been instructed to curtail production.

American Pacific Corp., whose sale of ammonium perchlorate for the space shuttle program represents between 30 percent and 40 percent of the company's annual revenue, reported flat sales and earnings for its fiscal second quarter ended March 31. The company has been awaiting news about the fate of the shuttle program since the disintegration of the shuttle Columbia during a re-entry from orbit in February.

The company on Wednesday reported earnings of $2.7 million, 36 cents a share, on revenue of $19.5 million for the quarter compared with earnings of $2.6 million, 35 cents a share, on revenue of $20 million for the same period a year ago.

The company, whose corporate offices are in Las Vegas and manufacturing plant is near Cedar City, Utah, warned that the company's revenue could decline with any decision to limit or cancel space shuttle flights over an extended period.

The company also manufactures chemicals used in automobile airbag systems and fire-suppression systems.

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