BWX Technologies Announces Third Quarter 2016 Results

BWX Technologies, Inc. (NYSE: BWXT) ("BWXT" or the "Company") today
reported third quarter 2016 revenues of $379.5 million compared to
$359.0 million in the third quarter of 2015, representing about 6%
revenue growth. GAAP and non-GAAP earnings per share (EPS) from
continuing operations for the third quarter of 2016 were $0.39 compared
to GAAP EPS of $0.98 and non-GAAP EPS of $0.40 in the third quarter of
2015. A reconciliation of non-GAAP results are further detailed
in Exhibit 1. Unless stated otherwise, the results of operations
discussed in this release are on a continuing operations basis and
exclude the results of operations from our former Power Generation
business, which are included as part of discontinued operations in the
attached financial statements.

"BWXT had an exciting third quarter, successfully delivering on several
areas of BWXT's strategy including operational excellence, high-quality
strategic acquisitions and returning capital to shareholders," said Mr.
John A. Fees, Executive Chairman. "We signed a definitive agreement to
acquire GE-Hitachi Nuclear Energy Canada Inc., which we expect to expand
the Nuclear Energy business's product and service offerings to the
Canadian nuclear market at a time when the provincial government has
signaled its commitment to nuclear energy and a low-carbon energy
portfolio. We believe the Canadian refurbishment activities offer
significant long-term growth opportunities to BWXT. We expect the deal
to close in the fourth quarter subject to regulatory approvals. Within
our existing operations, our Nuclear Operations business continued to
produce strong results and our Nuclear Energy business continues to be
on pace for a 10% operating profit margin for the year. Lastly, we
announced that we entered into an ASR agreement this quarter to
repurchase $200 million worth of shares, displaying our continued
commitment to return capital to our shareholders while maintaining
flexibility to execute on our balanced capital allocation approach
moving forward."

Third Quarter 2016 Results of Operations

The Company’s consolidated GAAP and non-GAAP operating income for the
third quarter of 2016 was $62.4 million compared to GAAP operating
income of $131.0 million in the third quarter of 2015, which included
$65.7 million related to litigation proceeds. The GAAP and non-GAAP
consolidated operating income for the third quarter 2016 decreased 4%
compared to non-GAAP operating income of $65.2 million in the prior year
period. The slight decrease in GAAP and non-GAAP operating income
compared to the prior year period's non-GAAP operating income was driven
by a decline in our Technical Services segment's operating income while
our other segments' operating income were stable compared to the third
quarter of 2015.

Nuclear Operations segment revenues increased approximately 4% to $316.9
million in the third quarter of 2016 compared to $303.3 million in the
same quarter of 2015 due to increased activity in component
manufacturing. Nuclear Operations operating income was $62.5 million in
the third quarter of 2016, consistent with $62.7 million in the prior
year period.

Technical Services segment revenues reached $26.2 million in the third
quarter of 2016 compared to $21.3 million in the same quarter of 2015
due to higher activity at our Naval Reactor decommissioning and
decontamination project. Consistent with expectations, Technical
Services operating income decreased to $4.7 million in the third quarter
of 2016 from $8.3 million in the prior year period due to transitioning
off of a joint venture project in Idaho in the second quarter of 2016 as
well as increased business development costs.

Revenues from our Nuclear Energy segment were $38.2 million in the third
quarter of 2016 compared to $34.9 million in the prior year period,
representing around 9% revenue growth. The growth was primarily due to
higher volume in the equipment business related to the Bruce Power
refurbishment activities. Nuclear Energy's operating income was $1.0
million in the third quarter of 2016, which was stable compared to the
prior year period operating income of $1.4 million.

"BWXT has accomplished several key strategic initiatives so far this
year and we are excited about the upcoming prospects for all of our
segments as we complete 2016 and head into 2017," said Mr. Fees. "Our
Nuclear Operations business has a strong backlog and several near-term
organic growth opportunities available. Our Nuclear Energy segment's
long-term growth potential remains strong while it supports the upcoming
refurbishment activities at Ontario Power Generation and Bruce Power.
Additionally, the anticipated acquisition of GE-Hitachi Nuclear Energy
Canada, Inc. by our Canadian Nuclear Energy business is expected to open
up new growth opportunities in the CANDU fuel, equipment and services
market segments for our Nuclear Energy segment. The Technical Services
segment continues to invest in our strong pipeline of near-term
opportunities and we remain optimistic about the segment's long-term
growth potential. Lastly, as we demonstrated during the third quarter,
we remain committed to our balanced capital allocation approach and
continue to evaluate opportunities for acquisitive growth and strategic
investments."

Liquidity and Debts

The Company had net cash from operating activities of $18.5 million in
the third quarter of 2016 compared with net cash from operating
activities of $155.6 million in the third quarter of 2015, which was
driven higher by $94.8 million of proceeds received from a legal
judgment. At the end of the third quarter, the Company’s cash and
investments position, net of restricted cash, was $67.3 million.

On September 2, 2016, the Company entered into an amendment to our
credit facility dated May 11, 2015. The amendment adds a new U.S. dollar
term loan facility of up to $112.5 million, which was drawn on September
16, 2016, and Canadian dollar term loan facility of up to $137.5 million
U.S. dollars. Neither of the term loans available under the amendment
impact the $250 million accordion provision available to us for term
loan, revolving credit borrowings and letter of credit commitments.

As of September 30, 2016, outstanding balances under our credit facility
included $288.8 million on our original term loan, a $112.5 million term
loan made available to us through the amendment, $48.9 million drawn on
the revolving line of credit and letters of credit issued under the
facility totaling $111.5 million. As a result, the Company has $377.1
million of remaining availability under our credit facility, taking into
account the additional capacity provided by the amendment. The remaining
availability excludes the additional $250 million accordion provision.

Share Repurchases

During the third quarter of 2016, the Company entered into a $200
million ASR agreement as part of our previously announced $300 million
share repurchase authorization that expires on February 26, 2018. Upon
entering into the ASR agreement the Company received 4,135,435 of
initial shares with the final number of shares repurchased based on the
volume-weighted average stock price of BWXT shares during the term of
the ASR agreement. In addition to the ASR agreement, the Company
repurchased 280,000 shares of its common stock at a cost of $10.5
million. Excluding the ASR agreement, the Company has repurchased 2.9
million shares of its common stock at a cost of $92.9 million through
the end of the third quarter. As of September 30, 2016, there was $43.0
million remaining under our current $300 million share repurchase
authorization. The Company does not expect to repurchase any additional
shares during the fourth quarter of 2016 and will continue to assess
additional repurchase activities heading into 2017.

Quarterly Dividend

On October 28, 2016, our Board of Directors declared a quarterly cash
dividend of $0.09 per common share. The dividend will be payable on
December 13, 2016, to shareholders of record on November 17, 2016.

Full Year 2016 Outlook

Segment guidance provided for 2016 remains unchanged at the business
unit level. We now expect depreciation and amortization to range between
$45 million and $50 million for the year. Additionally, the Company is
raising the lower end of the non-GAAP earnings per share guidance for
the full year 2016, which is now expected to be between $1.61 and $1.67.
Non-GAAP earnings per share exclude certain net gains recognized during
the year, which are detailed in Exhibit I, and any mark-to-market
adjustments for pension and post-retirement benefits recognized during
2016.

Conference Call to Discuss Third Quarter 2016 Results

Date: Tuesday, November 1, 2016, at 8:30 a.m. EST
Live
Webcast: Investor Relations section of website at www.bwxt.com

Forward-Looking Statements

BWXT cautions that this release contains forward-looking statements,
including, without limitation, statements relating to backlog, to the
extent they may be viewed as an indicator of future revenues, timing and
anticipated benefits of the planned acquisition of GE-Hitachi Nuclear
Energy Canada, Inc. (“GEH Canada”), as well as our outlook and guidance
for 2016. These forward-looking statements are based on management’s
current expectations and involve a number of risks and uncertainties,
including, among other things, adverse changes in Federal appropriations
to government programs in which we participate; our ability to execute
contracts in backlog; the satisfaction of closing conditions for the GEH
Canada acquisition, including regulatory approvals; adverse changes in
the industries in which we operate and delays, changes or termination of
contracts in backlog. If one or more of these risks or other risks
materialize, actual results may vary materially from those expressed.
For a more complete discussion of these and other risk factors, see
BWXT’s filings with the Securities and Exchange Commission, including
our annual report on Form 10-K for the year ended December 31, 2015 and
subsequent quarterly reports on Form 10-Q. BWXT cautions not to place
undue reliance on these forward-looking statements, which speak only as
of the date of this release, and undertakes no obligation to update or
revise any forward-looking statement, except to the extent required by
applicable law.

About BWXT

BWX Technologies, Inc. is a leading supplier of nuclear components and
fuel to the U.S. government; provides technical, management and site
services to support governments in the operation of complex facilities
and environmental remediation activities; and supplies precision
manufactured components and services for the commercial nuclear power
industry. BWXT has approximately 5,600 employees and significant
operations in Lynchburg, Va.; Erwin, Tenn.; Mount Vernon, Ind.; Euclid,
Ohio; Barberton, Ohio; and Cambridge, Ontario, as well as more than a
dozen U.S. Department of Energy sites around the country. A company
overview presentation, which will be presented at investor conferences
and meetings throughout this quarter, is available on the Investor
Relations section of our website. For additional information please
visit our website at www.bwxt.com.

EXHIBIT 1

BWX TECHNOLOGIES, INC. RECONCILIATION OF NON-GAAP OPERATING INCOME AND EARNINGS PER SHARE(1)(2)(3)
			Three Months Ended September 30, 2016
			GAAP				Impairment (Gains) / Charges						Non-GAAP
Operating Income			$	62.4			$	—					$	62.4
Other Income / (Expense)			(1.7		)		(0.3		)				(2.0		)
Income Tax (Expense) / Benefit			(20.0		)		(0.1		)				(20.1		)
Net Income (Loss)			40.6				(0.4		)				40.3
Net (Income) Loss Attributable to Non-Controlling Interest			(0.1		)		—						(0.1		)
Net Income (Loss) Attributable to BWXT			$	40.5			$	(0.4	)				$	40.1
Diluted Shares Outstanding			103.8										103.8
Diluted Earnings per Common Share			$	0.39			$	(0.00	)				$	0.39
Tax Rate			33.0%										33.3%
			Three Months Ended September 30, 2015
			GAAP				Litigation						Non-GAAP
Operating Income			$	131.0			$	(65.7		)			$	65.2
Other Income / (Expense)			27.1				(29.1			)			(2.0		)
Income Tax (Expense) / Benefit			(51.6		)		31.6						(20.0		)
Net Income (Loss)			106.5				(63.2			)			43.3
Net Loss Attributable to Non-Controlling Interest			(0.2		)		—						(0.2		)
Net Income (Loss) Attributable to BWXT			$	106.3			$	(63.2		)			$	43.1
Diluted Shares Outstanding			108.2										108.2
Diluted Earnings per Common Share			$	0.98			$	(0.58		)			$	0.40
Tax Rate			32.6%										31.6%

(1)		May not foot due to rounding.
(2)		BWXT is providing non-GAAP information regarding certain of its historical results and guidance on future earnings per share to supplement the results provided in accordance with GAAP and it should not be considered superior to, or as a substitute for, the comparable GAAP measures. BWXT believes the non-GAAP measures provide meaningful insight into the Company’s operational performance and provides these measures to investors to help facilitate comparisons of operating results with prior periods and to assist them in understanding BWXT's ongoing operations.
(3)		BWXT has not included a reconciliation of provided non-GAAP guidance to the comparable GAAP measures due to the difficulty of estimating any mark-to-market adjustments for pension and post-retirement benefits, which are determined at the end of the year.

EXHIBIT 1 (continued)

BWX TECHNOLOGIES, INC. RECONCILIATION OF NON-GAAP OPERATING INCOME AND EARNINGS PER SHARE(1)(2)(3)
			Nine Months Ended September 30, 2016
			GAAP					Performance Guarantees Release						mPower Deconsolidation						Framework Agreement & Litigation					Impairment (Gains) / Charges					Non- GAAP
Operating Income			$	193.4				$	—					$	—					$	13.9				$	—				$	207.4
Other Income / (Expense)			20.3					(9.3				)		(13.6				)		—					(1.5		)			(4.0		)
Income Tax (Expense) / Benefit			(66.6			)		3.4						—						(5.6			)		(0.6		)			(69.4		)
Net Income (Loss)			147.1					(5.9				)		(13.6				)		8.3					(2.1		)			133.9
Net (Income) Loss
Attributable to Non-
Controlling Interest			(0.4			)		—						—						—					—					(0.4		)
Net Income (Loss)
Attributable to BWXT			$	146.8				$	(5.9			)		$	(13.6			)		$	8.3				$	(2.1	)			$	133.5
Diluted Shares Outstanding			104.8																											104.8
Diluted Earnings per Common Share			$	1.40				$	(0.06			)		$	(0.13			)		$	0.08				$	(0.02	)			$	1.27
Tax Rate			31.2%																											34.1%
				Nine Months Ended September 30, 2015
				GAAP						Pension & OPEB MTM (Gain) / Loss						Spin / Other Restructuring				Litigation				One-Time Tax (Benefit)/ Charges						Non- GAAP
Operating Income				$	196.3					$	2.2					$	42.6			$	(65.7	)		$	—					$	175.4
Other Income / (Expense)				20.5						—						—				(29.1		)		—						(8.6		)
Income Tax (Expense) / Benefit				(76.8				)		(0.7				)		(12.2		)		31.6				3.5						(54.6		)
Net Income (Loss)				140.1						1.4						30.4				(63.2		)		3.5						112.2
Net Loss Attributable to
Non-Controlling Interest				0.3						—						—				—				—						0.3
Net Income (Loss)
Attributable to BWXT				$	140.4					$	1.4					$	30.4			$	(63.2	)		$	3.5					$	112.5
Diluted Shares Outstanding				107.6																										107.6
Diluted Earnings per Common
Share				$	1.30					$	0.01					$	0.28			$	(0.59	)		$	0.03					$	1.05
Tax Rate				35.4%																										32.7%

(1)		May not foot due to rounding.
(2)		BWXT is providing non-GAAP information regarding certain of its historical results and guidance on future earnings per share to supplement the results provided in accordance with GAAP and it should not be considered superior to, or as a substitute for, the comparable GAAP measures. BWXT believes the non-GAAP measures provide meaningful insight into the Company’s operational performance and provides these measures to investors to help facilitate comparisons of operating results with prior periods and to assist them in understanding BWXT's ongoing operations.
(3)		BWXT has not included a reconciliation of provided non-GAAP guidance to the comparable GAAP measures due to the difficulty of estimating any mark-to-market adjustments for pension and post-retirement benefits, which are determined at the end of the year.

BWX TECHNOLOGIES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS ASSETS
		September 30, 2016				December 31, 2015
		(Unaudited) (In thousands)
Current Assets:
Cash and cash equivalents		$	45,226			$	154,729
Restricted cash and cash equivalents		5,811				15,364
Investments		14,700				3,476
Accounts receivable – trade, net		157,188				153,326
Accounts receivable – other		23,868				22,444
Contracts in progress		345,966				265,770
Other current assets		24,591				32,185
Total Current Assets		617,350				647,294
Property, Plant and Equipment		879,015				846,936
Less accumulated depreciation		615,023				578,092
Net Property, Plant and Equipment		263,992				268,844
Investments		7,334				6,070
Goodwill		168,700				168,434
Deferred Income Taxes		175,872				181,359
Investments in Unconsolidated Affiliates		47,870				32,088
Intangible Assets		56,903				58,328
Other Assets		27,123				12,981
TOTAL		$	1,365,144			$	1,375,398

BWX TECHNOLOGIES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS LIABILITIES AND STOCKHOLDERS’ EQUITY
		September 30, 2016				December 31, 2015
		(Unaudited) (In thousands, except share and per share amounts)
Current Liabilities:
Current maturities of long-term debt		$	20,625			$	15,000
Accounts payable		76,500				74,130
Accrued employee benefits		56,743				67,603
Accrued liabilities – other		70,383				44,947
Advance billings on contracts		144,233				138,558
Accrued warranty expense		12,865				13,542
Total Current Liabilities		381,349				353,780
Long-Term Debt		423,211				278,259
Accumulated Postretirement Benefit Obligation		19,871				20,418
Environmental Liabilities		62,548				60,239
Pension Liability		339,986				358,512
Other Liabilities		19,540				24,555
Commitments and Contingencies
Stockholders’ Equity:
Common stock, par value $0.01 per share, authorized 325,000,000 shares;
issued 124,083,156 and 122,813,135 shares at September 30, 2016 and
December 31, 2015, respectively		1,241				1,228
Preferred stock, par value $0.01 per share, authorized 75,000,000
shares; No shares issued		—				—
Capital in excess of par value		16,171				22,732
Retained earnings		857,841				739,350
Treasury stock at cost, 24,853,379 and 17,515,757 shares at September
30, 2016 and December 31, 2015, respectively		(761,956		)		(498,346		)
Accumulated other comprehensive income		5,003				752
Stockholders’ Equity – BWX Technologies, Inc.		118,300				265,716
Noncontrolling interest		339				13,919
Total Stockholders’ Equity		118,639				279,635
TOTAL		$	1,365,144			$	1,375,398

BWX TECHNOLOGIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
		Three Months Ended September 30,									Nine Months Ended September 30,
		2016				2015					2016				2015
		(Unaudited) (In thousands, except share and per share amounts)
Revenues		$	379,505			$	358,970				$	1,146,713			$	1,051,592
Costs and Expenses:
Cost of operations		271,174				250,558					785,060				727,685
Research and development costs		1,746				1,518					5,043				8,999
Gains on asset disposals and impairments, net		(5		)		—					(55		)		(3		)
Selling, general and administrative expenses		49,225				47,550					146,474				152,736
mPower framework agreement		—				—					30,000				—
Income related to litigation proceeds		—				(65,728		)			—				(65,728		)
Special charges for restructuring activities		—				—					—				16,608
Costs to spin-off the Power Generation business		—				—					—				25,987
Total Costs and Expenses		322,140				233,898					966,522				866,284
Equity in Income of Investees		5,008				5,894					13,249				11,028
Operating Income		62,373				130,966					193,440				196,336
Other Income (Expense):
Interest income		128				30,028					533				30,262
Interest expense		(2,049		)		(1,231		)			(5,326		)		(6,792		)
Other – net		228				(1,666		)			25,119				(2,950		)
Total Other Income (Expense)		(1,693		)		27,131					20,326				20,520
Income from continuing operations before
provision for income taxes and noncontrolling
interest		60,680				158,097					213,766				216,856
Provision for Income Taxes		20,032				51,589					66,622				76,789
Income from continuing operations before noncontrolling interest		40,648				106,508					147,144				140,067
Income (loss) from discontinued operations, net of tax		—				(2,474		)			—				(8,311		)
Net Income		$	40,648			$	104,034				$	147,144			$	131,756
Net (Income) Loss Attributable to Noncontrolling Interest		(145		)		(164		)			(373		)		224
Net Income Attributable to BWX Technologies, Inc.		$	40,503			$	103,870				$	146,771			$	131,980
Amounts Attributable to BWX Technologies, Inc.’s Common Shareholders:
Income from continuing operations, net of tax		$	40,503			$	106,344				$	146,771			$	140,397
Income (loss) from discontinued operations, net of tax		—				(2,474		)			—				(8,417		)
Net Income Attributable to BWX Technologies, Inc.		$	40,503			$	103,870				$	146,771			$	131,980
Earnings per Common Share:
Basic:
Income from continuing operations		$	0.39			$	0.99				$	1.42			$	1.31
Income (loss) from discontinued operations		—				(0.02		)			—				(0.08		)
Net Income Attributable to BWX Technologies, Inc.		$	0.39			$	0.97				$	1.42			$	1.23
Diluted:
Income from continuing operations		$	0.39			$	0.98				$	1.40			$	1.30
Income (loss) from discontinued operations		—				(0.02		)			—				(0.08		)
Net Income Attributable to BWX Technologies, Inc.		$	0.39			$	0.96				$	1.40			$	1.23
Shares used in the computation of earnings per share:
Basic		102,735,989				106,962,168					103,542,578				106,952,744
Diluted		103,815,585				108,184,304					104,799,178				107,634,732

BWX TECHNOLOGIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
		Nine Months Ended September 30,
		2016				2015
		(Unaudited) (In thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income		$	147,144			$	131,756
Non-cash items included in net income from continuing operations:
Depreciation and amortization		37,090				65,010
Income of investees, net of dividends		(6,083		)		(221		)
(Gains) losses on asset disposals and impairments, net		(55		)		26,441
Gain on deconsolidation of Generation mPower LLC		(13,571		)		—
Recognition of losses for pension and postretirement plans		1,222				3,587
Stock-based compensation expense		8,373				25,105
Excess tax benefits from stock-based compensation		(2,294		)		(381		)
Changes in assets and liabilities:
Accounts receivable		(4,379		)		(273		)
Accounts payable		2,635				(33,825		)
Contracts in progress and advance billings on contracts		(72,918		)		59,020
Income taxes		18,511				(17,257		)
Accrued and other current liabilities		6,834				5,417
Pension liability, accrued postretirement benefit obligation and employee benefits		(37,532		)		(41,340		)
Other, net		(3,839		)		15,819
NET CASH PROVIDED BY OPERATING ACTIVITIES		81,138				238,858
CASH FLOWS FROM INVESTING ACTIVITIES:
Decrease in restricted cash and cash equivalents		9,553				1,578
Purchases of property, plant and equipment		(30,865		)		(52,193		)
Purchases of securities		(17,599		)		(9,711		)
Sales and maturities of securities		7,895				5,441
Proceeds from asset disposals		55				60
Investments, net of return of capital, in equity method investees		(9,165		)		—
NET CASH USED IN INVESTING ACTIVITIES		(40,126		)		(54,825		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under the Credit Agreement		241,300				177,350
Repayments under Credit Agreement		(91,150		)		(177,350		)
Payment of debt issuance costs		(663		)		(4,929		)
Repurchase of common shares		(292,997		)		(18,088		)
Dividends paid to common shareholders		(28,421		)		(28,105		)
Exercise of stock options		18,775				3,646
Excess tax benefits from stock-based compensation		2,294				381
Cash divested in connection with spin-off of Power Generation business		—				(307,562		)
Other		(382		)		(332		)
NET CASH USED IN FINANCING ACTIVITIES		(151,244		)		(354,989		)
EFFECTS OF EXCHANGE RATE CHANGES ON CASH		729				(6,092		)
TOTAL DECREASE IN CASH AND CASH EQUIVALENTS		(109,503		)		(177,048		)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD		154,729				312,969
CASH AND CASH EQUIVALENTS AT END OF PERIOD		$	45,226			$	135,921
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid during the period for:
Interest		$	4,367			$	5,294
Income taxes (net of refunds)		$	48,779			$	82,054
SCHEDULE OF NON-CASH INVESTING ACTIVITY:
Accrued capital expenditures included in accounts payable		$	5,628			$	2,161

BWX TECHNOLOGIES, INC. BUSINESS SEGMENT INFORMATION
		Three Months Ended September 30,								Nine Months Ended September 30,
		2016				2015				2016				2015
		(Unaudited) (In thousands)
REVENUES:
Nuclear Operations		$	316,899			$	303,304			$	937,814			$	879,493
Technical Services		26,178				21,261				71,838				61,434
Nuclear Energy		38,190				34,927				139,698				113,350
Adjustments and Eliminations		(1,762		)		(522		)		(2,637		)		(2,685		)
TOTAL		$	379,505			$	358,970			$	1,146,713			$	1,051,592
SEGMENT INCOME:
Nuclear Operations		$	62,537			$	62,720			$	191,886			$	191,877
Technical Services		4,683				8,340				14,675				15,475
Nuclear Energy		1,000				1,382				34,844				79
Other		(1,907		)		(2,357		)		(5,068		)		(12,015		)
SUBTOTAL		66,313				70,085				236,337				195,416
Unallocated Corporate		(3,940		)		(4,847		)		(12,897		)		(20,052		)
mPower Framework Agreement		—				—				(30,000		)		—
Income Related to Litigation Proceeds		—				65,728				—				65,728
Special Charges for Restructuring Activities		—				—				—				(16,608		)
Cost to Spin-off Power Generation Business		—				—				—				(25,987		)
Mark to Market Adjustment		—				—				—				(2,161		)
TOTAL		$	62,373			$	130,966			$	193,440			$	196,336
DEPRECIATION AND AMORTIZATION:
Nuclear Operations		$	8,610			$	9,613			$	26,068			$	28,841
Technical Services		4				10				12				11
Nuclear Energy		1,727				1,542				4,945				4,936
Other		—				—				—				550
Corporate		2,080				2,130				6,065				9,214
TOTAL		$	12,421			$	13,295			$	37,090			$	43,552
CAPITAL EXPENDITURES:
Nuclear Operations		$	10,459			$	8,715			$	23,820			$	24,667
Technical Services		—				—				—				—
Nuclear Energy		181				1,543				3,271				4,197
Other		—				—				—				—
Corporate		1,746				1,334				3,774				12,095
TOTAL		$	12,386			$	11,592			$	30,865			$	40,959

BWX TECHNOLOGIES, INC. BUSINESS SEGMENT INFORMATION
		Three Months Ended September 30,								Nine Months Ended September 30,
		2016				2015				2016				2015
		(Unaudited) (In thousands)
BACKLOG:
Nuclear Operations		$	2,982,735			$	2,451,945			$	2,982,735			$	2,451,945
Technical Services		10,097				5,712				10,097				5,712
Nuclear Energy		395,001				341,952				395,001				341,952
TOTAL		$	3,387,833			$	2,799,609			$	3,387,833			$	2,799,609
BOOKINGS:
Nuclear Operations		$	51,794			$	155,970			$	1,608,288			$	550,760
Technical Services		14,993				14,273				75,636				64,443
Nuclear Energy		27,825				994				200,335				194,945
TOTAL		$	94,612			$	171,237			$	1,884,259			$	810,148

View source version on businesswire.com: http://www.businesswire.com/news/home/20161031006185/en/

Source: Business Wire
(October 31, 2016 - 4:30 PM EDT)

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