Alliant Techsystems Inc.’s fiscal fourth-quarter earnings jumped 19 percent as sales rose in each of its operating divisions, the military contractor said today.
ATK, which makes ammunition, propulsion systems and aerospace supplies, said net income in the quarter ended March 31 rose to $64.4 million, or $1.83 a share, from $54.1 million, or $1.57 a share, a year ago.
Analysts expected earnings of $1.77 a share, according to Thomson Financial.
Sales added 12 percent to $1.13 billion from $1.01 billion, as the company’s armaments, launch systems and mission systems units each posted gains.
The company also said it cut operating costs at its ammunition unit, which operates the Lake City plant under contract with the Defense Department. The company, based in the Twin Cities, has been modernizing operations at Lake City.
For the year, profit climbed 23 percent to $226.3 million, or $6.43 a share, and sales rose 17 percent to $4.17 billion.
ATK said the fourth-quarter results did not include any charges related to its planned acquisition of a unit from MacDonald, Dettwiler and Associates. The company said it could book a charge in the quarter if the deal closed as expected.
ATK also raised its fiscal 2009 earnings target to reflect expected lower costs.
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