Home / Financial Report / ATK Rolls Out Financial Stats

ATK Rolls Out Financial Stats

ATK (NYSE: ATK) outlined its financial results for the third quarter of FY 2011, ending Jan. 2, 2011.

The company reported quarter sales of $1.1 billion – relatively flat with the prior-year quarter – boosted by strong sales in the Armament Systems group and Security and Sporting group – up 8 percent  and 25 percent, respectively – and offset by results from the Aerospace Systems group and Missile Products group.

Here are the specifics from the firm:

“Fully diluted earnings per share (EPS) decreased from $2.33 in the prior-year quarter to $2.09 in the current quarter.  The results reflect a $25 million reduction in sales and profit associated with a commercial aerospace structures program, partially offset by the retroactive extension of the federal research and development tax credit, and a continued focus on cost management and efficiency improvement initiatives company-wide.

“Our lean manufacturing and cost management initiatives are taking hold across the company, yielding margin improvement to offset program level challenges and deliver solid EPS. While we reduced our profit expectations on a commercial aerospace program, our overall results on orders, sales, profit and cash supported our full-year guidance, ” CEO Mark DeYoung said. “We are focused on a disciplined business model that delivers shareholder value.”

Check Also

F5 to Buy Shape Security for $1B; Francois Locoh-Donou Quoted

F5 Networks (Nasdaq: FFIV) has agreed to acquire Santa Clara, Calif.-based Shape Security for approximately $1B in cash as both companies aim to help government and enterprise customers secure digital experience with integrated offerings.

Paratek Secures $169M Anthrax Antibiotic Development Contract Under HHS Project BioShield

The Department of Health and Human Services has awarded Paratek Pharmaceuticals a potential a five-year, $169M contract to further develop an antibiotic drug as a potential treatment for inhalation anthrax.