ATK [ATK] yesterday closed its fiscal year on a solid note as net income was up in the double-digits despite a double-digit decline in sales. Net income in the fourth quarter jumped 18 percent to $72.7 million, $2.23 earnings per share (EPS), from $61.4 million ($1.86 EPS), soaring past consensus estimates of $1.99 EPS. ATK attributed the higher earnings to higher operating margins, lower interest expense and a lower tax rate, which was due to the retroactive extension of the…
ATK Ends Fiscal Year With Strong Earnings Despite Sales Drop
Defense Daily Staff
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