ATK (NYSE: ATK) has announced the financial results for the second quarter of its 2015 fiscal year, which ended on Sept. 28, 2014.The Arlington, Virginia-based aerospace and defense contractor reported an 11-percent increase in revenue from the prior-year quarter, a 2.1-percent increase in profit and an uptick in sales for all three of its business groups.
Revenue for the aerospace group rose 3.1 percent for the quarter, the defense group recorded a 3.4-percent jump and the sporting group’s sales rose 26.4 percent during the period.
ATK attributed the aerospace group’s results to increased sales in the aerospace structures division and the defense group’s results to international sales.
Orbital Sciences (NYSE: ORB) is in the process of acquiring the aerospace and defense groups to create a company that will trade as Orbital ATK once the deal closes.
The transaction could close in January if regulatory approvals go through in December, according to comments Orbital CEO David Thompson made during his company’s earnings call last week.
ATK said the sporting group’s revenue increase came in part to results from Bushnell, the weapon accessory maker ATK purchased in November 2013 for close to $1 billion in cash.
ATK’s sporting group will become an independent, publicly-traded company under the two-part transaction with Orbital.
