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ATK Posts Weaker Sales And Earnings But Margins Remain Strong

Defense Daily Staff Defense Daily Staff
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Facing the same headwinds as other defense companies, Alliant Techsystems [ATK] yesterday reported lower earnings and sales in its first quarter but was able to mitigate the decline in earnings due to improved operating efficiencies. Moreover, as with other defense firms, ATK boosted its earnings guidance for the year, in part driven by a lower than expected share count as the company repurchased $50 million of its stock in the quarter. Net income declined 4 percent to $71.5 million, $2.13…

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