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ATK Opens FY ’09 With Strong Results Despite Space Glitch

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By Calvin Biesecker Alliant Techsystems [ATK] yesterday posted strong earnings and sales to open its new fiscal year, powered by record results in its ammunition business that more than offset poor earnings in its space business, which suffered a $15 million charge related to performance fixes on spacecraft structures. Net income increased 10 percent to $57.9 million, $1.64 earnings per share (EPS), from $52.4 million ($1.50 EPS). Operating margins dipped a full percent to 9.6 percent due to the charge,…

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