May 6, 2010
ATK propelled by military, commercial ammo sales in FY10
Alliant Techsystems (NYSE:ATK) today reported that full-year sales in fiscal year 2010 increased 5 percent to $4.8 billion, led by the strength of the company's Armament Systems group.
Sales in ATK's Armament Systems group were up 25 percent for the year to $2.2 billion, compared to $1.7 billion in the prior year. Sales reflected "robust growth in military and commercial ammunition, strong sales of non-standard ammunition, energetics programs and increased modernization efforts at the Lake City (Independence, Mo.) and Radford (Va.) Army Ammunition Plants."
Fourth-quarter Armament Systems group sales rose 26 percent. ATK reported overall fourth-quarter earnings of $58.4 million, or $1.73 per share, compared to a loss of $36.5 million, or $1.12 per share, a year ago.
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