Lower volume for military small-caliber ammunition, energetics and continued weakness in NASA programs combined with higher taxes led ATK [ATK] yesterday to post declines in its second quarter sales and income. Like other defense firms that have reported this fall, ATK countered the weaker sales with strong margins, in particular in its Armament Systems group, which benefited from an $18 million contract resolution at the Lake City ammunition plant it manages for the Army. ATK’s margins jumped 2.3 percent to…
ATK’s Second Quarter Sales, Earnings Fall But Earnings Outlook Maintained
Defense Daily Staff
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