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ATK’s Income Tumbles On Charge; Restructuring Planned Amid Budget Pressures

Defense Daily Staff Defense Daily Staff
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A $25 million after tax charge associated with ATK’s [ATK] Thiokol business and lower margins on commercial ammunition led the company yesterday to post lower third quarter earnings while sales dipped a bit. Meanwhile, the diversified aerospace and defense supplier said it will trim its operating group structure this spring, moving to three business segments from four, to address downward defense budget pressures. The new group structure, effective at the start of ATK’s fiscal year 2013 on April 1, will…

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