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Ammo Work, Operating Improvements Boost ATK’s First Quarter Income

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By Calvin Biesecker ATK [ATK] yesterday posted strong gains in its net income in the first quarter driven in part by higher sales of ammunition for the military, strong performance in its new Security and Sporting group and improved operating efficiencies, despite posting a scant overall decline in sales. Net income increased 8 percent to $74.8 million, $2.24 earnings per share (EPS), from $69.5 million ($2.12 EPS) a year ago, handily beating consensus estimates by 26 cents EPS. The net…

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