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Sporting, Aerospace Businesses Propel ATK To Strong Opening Quarter

Cal Biesecker By
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Sporting, Aerospace Businesses Propel ATK To Strong Opening Quarter
ATK President and CEO Mark DeYoung. Photo: ATK

ATK [ATK] on Thursday reported a strong start to its new fiscal year with double digit gains in earnings and sales while the company raised its earnings guidance for the year due to better than expected performance in its first quarter, coupled with debt retirement and expectations of a lower tax rate. Net income increased 19 percent to $85.6 million, $2.59 earnings per share (EPS), from $72 million ($2.24 EPS) a year ago, easily beating consensus estimates by 15 cents…

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