- GAAP EPS of $0.98 ($0.38 in Prior Year Period), Adjusted EPS of $0.40 ($0.30 in Prior Year Period)

- Growth in Revenue and Operating Income Across All Segments Compared to Prior Year Period

- 2015 Adjusted EPS At Higher End of Previous Guidance Range of $1.30 to $1.40

- 2016 Adjusted EPS Guidance of $1.45 to $1.55

- Share Repurchase Activity Accelerating

LYNCHBURG, Va.--(BUSINESS WIRE)-- BWX Technologies, Inc. (NYSE: BWXT) (“BWXT” or the “Company”) today reported third quarter 2015 revenues of $359.0 million, an increase of $21.6 million, or 6.4%, from the third quarter of 2014. GAAP earnings per share from continuing operations for the third quarter of 2015 were $0.98 compared to $0.38 in the third quarter of 2014. Adjusted (Non-GAAP) earnings per share from continuing operations, which excludes a $0.58 per share impact of income related to proceeds from a legal judgment, was $0.40 compared to $0.30 in the third quarter of 2014. 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.

“In our first quarter as a standalone company we were able to build on the successes of the first half of the year and deliver another solid quarter. Improved third quarter revenue and operating income demonstrates management’s commitment to execution,” said Mr. John A. Fees, Executive Chairman. “Our Nuclear Operations segment continued to provide strong results in the third quarter. In addition, the Nuclear Energy segment delivered impressive revenue and operating income growth as work began on the China steam generator project and the segment continues to improve its margin. As we approach the end of the year, we are well positioned for strong results heading into 2016.”

Results of Operations

The Company’s consolidated revenues for the third quarter of 2015 were $359.0 million, an increase of 6.4%, compared to $337.4 million for the third quarter of 2014. Revenue was up in each segment of our business. The Nuclear Operations segment revenues reached record third quarter levels, increasing to $303.3 million in the third quarter of 2015 from $297.5 million in the same quarter in 2014, primarily due to increased manufacturing volume as well as growth in our Nuclear Fuel Services business. Revenues from the Nuclear Energy segment were $34.9 million compared to $21.5 million in the prior year period due to growth in its services business as well as initiating work on the China steam generator project, which was booked during the second quarter of 2015. The Technical Services segment revenues reached $21.3 million in the third quarter of 2015 compared to $20.2 million in the same quarter in 2014, an increase of 5.4%.

GAAP operating income for the third quarter was $131.0 million, an increase of $96.3 million compared to $34.7 million in the same period of 2014. In addition to the increase in each of our segments’ operating income, the increase in consolidated GAAP operating income is also attributable to $65.7 million of operating income related to proceeds from a legal judgment in litigation with one of our insurers. Operating income in the Nuclear Operations segment increased slightly with $62.7 million in the period compared to $61.9 million in the prior year period. Our Nuclear Energy segment reported operating income of $1.4 million in the period compared to a loss of $6.7 million in the prior year period as the segment saw growth in its services business and began work on the China steam generator project. Our Technical Services segment operating income increased $3.4 million to $8.3 million, primarily due to improved fees associated with achieving performance milestones at one of our sites as well as favorable billing rate adjustments compared to the prior year period.

The effective tax rate for the third quarter of 2015 was 32.6%, which includes the benefit of $4.9 million of discrete items due to the remeasurement of uncertain tax positions as a result of the close of a previously ongoing IRS audit as well as adjustments related to the filing of our 2014 federal income tax return.

Excluding the income from the litigation proceeds, adjusted operating income for the third quarter of 2015 was $65.2 million, or an increase of 31.2% compared to adjusted operating income of $49.7 million in the third quarter of 2014. The improved adjusted operating income was driven by growth and margin improvement in the Nuclear Energy segment, improved performance in the Technical Services segment, reduced corporate costs and reduced mPower spending.

“We are pleased with the results we’ve made across our different businesses during this period,” said Mr. Fees. “In addition to the solid results in all of our segments, we were able to return capital to our shareholders by resuming execution of our current share repurchase authorization following the recent spin-off of our former Power Generation business. As we move toward the end of the year, we are committed to increasing our share buyback activity and will continue to manage our capital allocation in order to best drive value for our shareholders. Additionally, we are making progress on our previously announced objectives. The Nuclear Energy segment is on track with our expectations for the recovery of that business and the Technical Services segment posted solid results this quarter as we continue to be optimistic about the segment’s long-term growth opportunities. New Chief Operating Officer Rex Geveden will focus our improvement efforts in the Nuclear Energy and Technical Services segments as well as bring a fresh perspective to our Nuclear Operations segment as we continue to execute on our strategic priorities.”

Liquidity and Debt

The Company generated consolidated cash flows from operations of $155.6 million in the third quarter of 2015 compared with $22.5 million, inclusive of cash flows of our former Power Generation business, in the third quarter of 2014, driven primarily by proceeds from a legal judgment and improvements in project cash flows. At the end of the third quarter, the Company’s cash and investments position, net of restricted cash, was $144.5 million.

As of September 30, 2015, outstanding balances under our credit facility included a $300 million term loan and letters of credit issued under the facility totaling $69.9 million, resulting in $530.1 million of availability under our credit facility, which excludes the additional $250 million accordion provision available to us for term loan, revolving credit borrowings and letter of credit commitments.

Share Repurchases

During the third quarter of 2015, the Company repurchased 0.7 million shares of its common stock at a total cost of $18 million. We plan to accelerate our share repurchase activity starting in the fourth quarter of 2015 utilizing existing repurchase authorizations that will expire by February 25, 2016. On October 30, 2015, our Board of Directors approved a new $300 million repurchase authorization for a two-year period beginning February 26, 2016.

Quarterly Dividend

On October 30, 2015, our Board of Directors declared a quarterly cash dividend of $0.06 per common share. The dividend will be payable on December 16, 2015 to shareholders of record on November 20, 2015.

Outlook

Guidance provided for 2015 remains largely unchanged at the segment level. The Company still expects that revenue from Nuclear Operations will be consistent with levels achieved in the last two years and expects an operating margin in the high teens for the remainder of the year, with some potential for upside. We expect the adjusted earnings per share for 2015 to be at the higher end of our 2015 guidance range of $1.30 to $1.40. Adjusted earnings per share exclude mark-to-market adjustments for pension and post-retirement benefits, restructuring and spin costs, litigation proceeds, and one-time tax charges.

For the full year 2016, the Company expects to achieve consolidated revenues between $1.40 and $1.45 billion. Adjusted earnings per share for 2016 are expected to be between $1.45 and $1.55, which excludes mark-to-market adjustments for pension and post-retirement benefits. The Company also expects the following for 2016:

• Nuclear Operations revenues consistent with levels achieved in the last three years and expected operating margin in the high teens with some potential for upside
• Technical Services operating profit in the range of $15 to $20 million, mostly from equity income
• Nuclear Energy revenues in the $160 to $190 million range with the full year operating margin around 10%, achieved by year end
• mPower spending capped at or below $15 million while management continues to evaluate options
• Corporate unallocated spend of $15 to $20 million
• Effective tax rate for 2016 is expected to be in the range of 34% to 36%
• An increase in the organic capital expenditures range to be between $55 and $60 million in order to support the Ohio Replacement Class work
• Depreciation and amortization of $40 to $45 million

Conference Call to Discuss Third Quarter 2015 Results

Date: Thursday, November 5, 2015, 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 2015 results; management’s plans and expectations regarding our share repurchase activity, capital allocation and opportunities in our segments, as well as outlook and guidance for 2015 and 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 obtain new contract awards; 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, 2014 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 5,300 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)
			Three Months Ended September 30, 2015
			GAAP				Pension & OPEB MTM(Gain) / Loss				Spin / OtherRestructuring				Impairment(Gains) /Charges				LitigationProceeds				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%
			Three Months Ended September 30, 2014
			GAAP				Pension &OPEB MTM(Gain) / Loss				Spin / OtherRestructuring				Impairment(Gains) /Charges				LitigationProceeds				Non-GAAP
Operating Income			$	34.7			$	9.1			$	5.9			$	-			$	-			$	49.7
Other Income / (Expense)				15.9				-				-				(18.6)				-				(2.8)
Income Tax (Expense) / Benefit				(10.9)				(2.3)				(1.9)				-				-				(15.1)
Net Income (Loss)				39.8				6.7				4.0				(18.6)				-				31.8
Net Loss Attributable to Non-Controlling Interest				0.9				-				-				-				-				0.9
Net Income (Loss) Attributable to BWXT			$	40.6			$	6.7			$	4.0			$	(18.6)			$	-			$	32.7
Diluted Shares Outstanding				107.4																				107.4
Diluted Earnings per Common Share			$	0.38			$	0.06			$	0.04			$	(0.17)			$	-			$	0.30
Tax Rate				21.4%																				32.2%

(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.

EXHIBIT 1 (continued)

BWX TECHNOLOGIES, INC. RECONCILIATION OF NON-GAAP OPERATING INCOME AND EARNINGS PER SHARE(1)(2)
				Nine Months Ended September 30, 2015
				GAAP				Pension &OPEB MTM(Gain) / Loss				Spin / OtherRestructuring				Impairment(Gains) /Charges				One TimeTax(Benefit) /Charges				LitigationProceeds				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)				-				3.5				31.6				(54.6)
Net Income (Loss)					140.1				1.4				30.4				-				3.5				(63.2)				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			$	-			$	3.5			$	(63.2)			$	112.5
Diluted Shares Outstanding					107.6																								107.6
Diluted Earnings per Common Share				$	1.30			$	0.01			$	0.28			$	-			$	0.03			$	(0.59)			$	1.05
Tax Rate					35.4%																								32.7%
				Nine Months Ended September 30, 2014
				GAAP				Pension &OPEB MTM(Gain) / Loss				Spin / OtherRestructuring				Impairment(Gains) /Charges				One TimeTax(Benefit) /Charges (3)				LitigationProceeds				Non-GAAP
Operating Income				$	106.8			$	9.1			$	32.2			$	-			$	-			$	-			$	148.1
Other Income / (Expense)					14.7				-				-				(18.6)				-				-				(4.0)
Income Tax (Expense) / Benefit					(27.4)				(2.3)				(10.9)				-				(5.8)				-				(46.4)
Net Income (Loss)					94.1				6.7				21.4				(18.6)				(5.8)				-				97.8
Net Loss Attributable to Non-Controlling Interest					7.9				-				-				-				-				-				7.9
Net Income (Loss) Attributable to BWXT				$	102.0			$	6.7			$	21.4			$	(18.6)			$	(5.8)			$	-			$	105.7
Diluted Shares Outstanding					109.5																								109.5
Diluted Earnings per Common Share				$	0.93			$	0.06			$	0.20			$	(0.17)			$	(0.05)			$	-			$	0.97
Tax Rate					22.6%																								32.2%

(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) Amount relates to the first quarter of 2014.

CONDENSED CONSOLIDATED BALANCE SHEETS ASSETS
				September 30,			December 31,
				2015			2014
				(Unaudited)
				(In thousands)
Current Assets:
Cash and cash equivalents				$	135,921		$	123,624
Restricted cash and cash equivalents					17,381			50,835
Investments					2,251			4,837
Accounts receivable – trade, net					180,108			165,144
Accounts receivable – other					27,206			6,094
Contracts in progress					266,826			290,622
Inventories					10,970			9,926
Deferred income taxes					42,832			38,320
Other current assets					21,735			32,127
Assets of discontinued operations – current					-			752,273
Total Current Assets					705,230			1,473,802
Property, Plant and Equipment					831,043			880,848
Less accumulated depreciation					568,773			573,048
Net Property, Plant and Equipment					262,270			307,800
Investments					6,300			7,606
Goodwill					168,585			169,914
Deferred Income Taxes					132,067			132,778
Investments in Unconsolidated Affiliates					33,812			31,256
Intangible Assets					58,863			60,227
Other Assets					43,595			50,133
Assets of Discontinued Operations – Non-Current					-			623,420
TOTAL				$	1,410,722		$	2,856,936

BWX TECHNOLOGIES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS LIABILITIES AND STOCKHOLDERS’ EQUITY
				September 30,			December 31,
					2015			2014
				(Unaudited)
				(In thousands, except share andper share amounts)
Current Liabilities:
Notes payable and current maturities of long-term debt				$	11,250		$	15,000
Accounts payable					60,184			88,985
Accrued employee benefits					60,863			85,433
Accrued liabilities – other					54,135			44,232
Advance billings on contracts					140,925			107,437
Accrued warranty expense					15,985			15,889
Income taxes payable					34,627			15,778
Liabilities of discontinued operations – current					-			446,881
Total Current Liabilities					377,969			819,635
Long-Term Debt					288,750			285,000
Accumulated Postretirement Benefit Obligation					26,890			29,956
Environmental Liabilities					59,117			56,259
Pension Liability					303,540			308,927
Other Liabilities					22,972			43,126
Liabilities of Discontinued Operations – Non-Current					-			299,832
Commitments and Contingencies
Stockholders’ Equity:
Common stock, par value $0.01 per share, authorized 325,000,000 shares; issued 122,611,572 and 121,604,332 shares at September 30, 2015 and December 31, 2014, respectively					1,226			1,216
Preferred stock, par value $0.01 per share, authorized 75,000,000 shares;No shares issued					-			-
Capital in excess of par value					15,964			775,393
Retained earnings					746,278			642,489
Treasury stock at cost 15,781,393 and 14,915,776 shares at September 30, 2015 and December 31, 2014, respectively					(446,562)			(423,990)
Accumulated other comprehensive income					732			3,596
Stockholders’ Equity – BWX Technologies, Inc.					317,638			998,704
Noncontrolling interest					13,846			15,497
Total Stockholders’ Equity					331,484			1,014,201
TOTAL				$	1,410,722		$	2,856,936

BWX TECHNOLOGIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
				Three Months Ended						Nine Months Ended
				September 30,						September 30,
				2015			2014			2015			2014
				(Unaudited)
				(In thousands, except share and per share amounts)
Revenues				$	358,970		$	337,352		$	1,051,592		$	1,055,256
Costs and Expenses:
Cost of operations					250,558			242,607			727,685			752,980
Research and development costs					1,518			3,877			8,999			50,498
Gains on asset disposals and impairments, net					-			(625	)		(3	)		(625	)
Selling, general and administrative expenses					47,550			55,289			152,736			158,628
Special charges for restructuring activities					-			5,922			16,608			17,059
Income related to litigation proceeds					(65,728	)		-			(65,728	)		-
Costs to spin-off the Power Generation business					-			-			25,987			-
Total Costs and Expenses					233,898			307,070			866,284			978,540
Equity in Income of Investees					5,894			4,449			11,028			30,101
Operating Income					130,966			34,731			196,336			106,817
Other Income (Expense):
Interest income					30,028			145			30,262			376
Interest expense					(1,231	)		(2,832	)		(6,792	)		(4,637	)
Other – net					(1,666	)		18,563			(2,950	)		18,926
Total Other Income (Expense)					27,131			15,876			20,520			14,665
Income from continuing operations before provision for income taxes and noncontrolling interest					158,097			50,607			216,856			121,482
Provision for Income Taxes					51,589			10,853			76,789			27,395
Income (loss) from continuing operations before noncontrolling interest					106,508			39,754			140,067			94,087
Income (loss) from discontinued operations, net of tax					(2,474	)		20,649			(8,311	)		30,962
Net Income				$	104,034		$	60,403		$	131,756		$	125,049
Net (Income) Loss Attributable to Noncontrolling Interest					(164	)		811			224			7,646
Net Income Attributable to BWX Technologies, Inc.				$	103,870		$	61,214		$	131,980		$	132,695
Amounts Attributable to BWX Technologies, Inc.’s Common Shareholders:
Income from continuing operations, net of tax				$	106,344		$	40,626		$	140,397		$	101,987
Income (loss) from discontinued operations, net of tax					(2,474	)		20,588			(8,417	)		30,708
Net Income Attributable to BWX Technologies, Inc.				$	103,870		$	61,214		$	131,980		$	132,695
Earnings per Common Share:
Basic:
Income from continuing operations				$	0.99		$	0.38		$	1.31		$	0.93
Income (loss) from discontinued operations					(0.02	)		0.19			(0.08	)		0.28
Net Income Attributable to BWX Technologies, Inc.				$	0.97		$	0.57		$	1.23		$	1.22
Diluted:
Income from continuing operations				$	0.98		$	0.38		$	1.30		$	0.93
Income (loss) from discontinued operations					(0.02	)		0.19			(0.08	)		0.28
Net Income Attributable to BWX Technologies, Inc.				$	0.96		$	0.57		$	1.23		$	1.21
Shares used in the computation of earnings per share:
Basic					106,962,168			107,105,986			106,952,744			109,103,879
Diluted					108,184,304			107,444,284			107,634,732			109,482,318

BWX TECHNOLOGIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
				Nine Months Ended
				September 30,
				2015			2014
CASH FLOWS FROM OPERATING ACTIVITIES:				(Unaudited) (In thousands)
Net Income				$	131,756		$	125,049
Non-cash items included in net income from continuing operations:
Depreciation and amortization					65,010			57,400
Income of investees, net of dividends					(221)			16,920
Losses on asset disposals and impairments, net					26,441			3,870
Gain on exchange of USEC investment					-			(18,647)
In-kind research and development costs					-			5,830
Recognition of losses for pension and postretirement plans					3,587			12,952
Stock-based compensation and thrift plan expense					25,105			11,786
Excess tax benefits from stock-based compensation					(381)			(568)
Changes in assets and liabilities:
Accounts receivable					(273)			(62,220)
Accounts payable					(33,825)			(115,271)
Contracts in progress and advance billings on contracts					59,020			(74,214)
Inventories					(561)			138
Income taxes					(17,257)			(11,804)
Accrued and other current liabilities					5,417			13,206
Pension liability, accrued postretirement benefit obligation and employee benefits					(41,340)			(66,679)
Other, net					16,380			17,057
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES					238,858			(85,195)
CASH FLOWS FROM INVESTING ACTIVITIES:
Decrease in restricted cash and cash equivalents					1,578			2,745
Purchases of property, plant and equipment					(52,193)			(55,877)
Acquisition of business, net of cash acquired					-			(127,705)
Purchase of intangible assets					-			(722)
Purchases of securities					(9,711)			(21,225)
Sales and maturities of securities					5,441			31,663
Proceeds from asset disposals					60			846
Investment in equity method investees					-			(4,900)
NET CASH USED IN INVESTING ACTIVITIES					(54,825)			(175,175)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payment of short-term borrowing and long-term debt					-			(4,424)
Increase in short-term borrowing					-			2,855
Borrowings under the Credit Agreement					177,350			809,300
Repayments under Credit Agreement					(177,350)			(504,900)
Payment of debt issuance costs					(4,929)			(5,390)
Repurchase of common shares					(18,088)			(149,774)
Dividends paid to common shareholders					(28,105)			(32,799)
Exercise of stock options					3,646			3,854
Excess tax benefits from stock-based compensation					381			568
Cash divested in connection with spin-off of Power Generation business					(307,562)			-
Other					(332)			(202)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES					(354,989)			119,088
EFFECTS OF EXCHANGE RATE CHANGES ON CASH					(6,092)			(7,913)
TOTAL DECREASE IN CASH AND CASH EQUIVALENTS					(177,048)			(149,195)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD					312,969			346,116
CASH AND CASH EQUIVALENTS AT END OF PERIOD				$	135,921		$	196,921
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid during the period for:
Interest				$	5,294		$	3,573
Income taxes (net of refunds)				$	82,054		$	52,845
SCHEDULE OF NON-CASH INVESTING ACTIVITY:
Accrued capital expenditures included in accounts payable				$	2,161		$	3,201

BWX TECHNOLOGIES, INC. BUSINESS SEGMENT INFORMATION
	Three Months Ended								Nine Months Ended
	September 30,								September 30,
	2015				2014				2015				2014
	(Unaudited)
	(In thousands)
REVENUES:
Nuclear Operations	$	303,304			$	297,489			$	879,493			$	877,141
Technical Services		21,261				20,236				61,434				70,706
Nuclear Energy		34,927				21,529				113,350				114,236
Other		-				-				-				278
Adjustments and Eliminations		(522)				(1,902)				(2,685)				(7,105)
TOTAL	$	358,970			$	337,352			$	1,051,592			$	1,055,256
SEGMENT INCOME:
Nuclear Operations	$	62,720			$	61,893			$	191,877			$	180,103
Technical Services		8,340				4,951				15,475				34,818
Nuclear Energy		1,382				(6,698)				79				(4,627)
Other		(2,357)				(5,140)				(12,015)				(63,782)
SUBTOTAL	$	70,085			$	55,006			$	195,416			$	146,512
Corporate		(4,847)				(5,286)				(20,052)				(13,569)
Income Related to Litigation Proceeds		65,728				-				65,728				-
Special Charges for Restructuring Activities		-				(5,922)				(16,608)				(17,059)
Cost to Spin-Off Power Generation Business		-				-				(25,987)				-
Mark to Market Adjustment		-				(9,067)				(2,161)				(9,067)
TOTAL	$	130,966			$	34,731			$	196,336			$	106,817
DEPRECIATION AND AMORTIZATION:
Nuclear Operations	$	9,613			$	7,380			$	28,841			$	21,037
Technical Services		10				-				11				1
Nuclear Energy		1,542				1,614				4,936				4,968
Other		-				263				550				712
Corporate		2,130				3,204				9,214				9,489
TOTAL	$	13,295			$	12,461			$	43,552			$	36,207
CAPITAL EXPENDITURES:
Nuclear Operations	$	8,715			$	7,101			$	24,667			$	24,210
Technical Services		-				-				-				-
Nuclear Energy		1,543				4,852				4,197				13,089
Other		-				99				-				1,983
Corporate		1,334				1,215				12,095				5,709
TOTAL	$	11,592			$	13,267			$	40,959			$	44,991

BWX TECHNOLOGIES, INC. BUSINESS SEGMENT INFORMATION
				Three Months Ended								Nine Months Ended
				September 30,								September 30,
				2015				2014				2015				2014
				(Unaudited)
				(In thousands)
BACKLOG:
Nuclear Operations				$	2,451,945			$	2,376,438			$	2,451,945			$	2,376,438
Technical Services					5,712				4,475				5,712				4,475
Nuclear Energy					341,952				273,415				341,952				273,415
TOTAL				$	2,799,609			$	2,654,328			$	2,799,609			$	2,654,328
BOOKINGS:
Nuclear Operations				$	155,970			$	93,426			$	550,760			$	877,434
Technical Services					14,273				12,523				64,443				70,155
Nuclear Energy (1)					994				100,837				194,945				238,863
TOTAL				$	171,237			$	206,786			$	810,148			$	1,186,452

(1) Nuclear Energy’s bookings are net of unfavorable currency translation adjustments affecting backlog in the third

quarter, totaling $27.9 million.

View source version on businesswire.com: http://www.businesswire.com/news/home/20151104006856/en/

BWX Technologies, Inc.

Investor Contact:

Alan Nethery

Vice President, Investor Relations

980-365-4300, [email protected]

or

Media Contact:

Jud Simmons

Communications Director

434-522-6462, [email protected]

Source: BWX Technologies, Inc.

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