Alliant Techsystems (ATK +2.6%) gains after its FQ3 beats on its bottom line, despite declining...
Alliant Techsystems (ATK +2.6%) gains after its FQ3 beats on its bottom line, despite declining revenue. Net earnings rose 27% Y/Y, as the defense contractor racked up lower SG&A expenses and input costs. Aerospace sales were virtually flat, while the defense group dropped 18% to $467M, driven by lower sales in the small caliber systems and energetics divisions. In the sporting group however, sales climbed 18% to $288M, boosted by higher unit volume and ammunition price increases. The company raises FY guidance, now forecasting earnings of $7.90 to $8.10 a share on revenue of $4.25B to $4.3B.
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