Publicly traded Gencorp, based in Rancho Cordova, was slammed by two specific expenses during the fourth quarter. These created most of the $206 million dollar loss for the year reported on Thursday.
The first was a write down on inventory connected to its Atlas V program. The other sprang from a lawsuit filed by the Olin Corporation. On the bright side, sales at GenCorp, Sacramento’s 3rd largest public company rose 25% in 2005.
GenCorp recently announced that it is in early discussions with homebuilders for its large Rio Del Oro subdivision. The site is along the fast-growing Highway 50 corridor.