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Alliant Techsystems Inc. (ATK) filed Quarterly Report for the period ended 2012-01-01.
Alliant Techsystems Inc. has a market cap of $1.93 billion; its shares were traded at around $58.44 with a P/E ratio of 6.9 and P/S ratio of 0.4. The dividend yield of Alliant Techsystems Inc. stocks is 1.4%. Alliant Techsystems Inc. had an annual average earning growth of 12.9% over the past 10 years. GuruFocus rated Alliant Techsystems Inc. the business predictability rank of 5-star.
This is the annual revenues and earnings per share of ATK over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of ATK.
Highlight of Business Operations:
As discussed above, on January 24, 2012, ATK was notified that the U.S. Army had completed its review of ATK’s revised proposal for a contract to continue operating and maintaining the RFAAP and that ATK had not been awarded the contract. Loss of the Radford facility management contract will reduce Armament Systems’ and ATK’s sales and profit. ATK will continue to operate its New River Energetics facility located at RFAAP, which supports ATK’s commercial business, international program efforts and other business not directly associated with the RFAAP contract, and therefore ATK does not expect to lose all revenues associated with this division. External sales and income before interest, income taxes, and noncontrolling interest from the RFAAP contract were approximately $233 million and $14 million, respectively, during ATK’s fiscal 2011. ATK is currently under contract to operate the RFAAP through June 30, 2012. Therefore, there will be continued Radford revenues into fiscal 2013.Although the timing and outcome of audit settlements are uncertain, it is reasonably possible that a $15,128 reduction of the unrecognized tax benefits will occur in the next 12 months. The settlement of these unrecognized tax benefits could result in earnings from $0 to $12,715.
Net income for the quarter ended January 1, 2012 was $49,685, a decrease of $20,496 compared to $70,181 in the third quarter of fiscal 2011. This decrease was driven by a $4,977 increase in income tax expense and a $34,008 increase in operating expenses. These increases were partially offset by lower net interest expense of $5,451 and an increase of $13,004 in gross profit.
Cash flows provided by operations for the nine months ended January 1, 2012 included the impact of a $61,600 pension contribution, lower tax payments, as well as increased working capital, primarily due to the timing of payments and collections, and increased inventory to support expected sales growth in Security and Sporting. Capital expenditures during fiscal 2012 were $97,916 compared to $72,986 in the prior year, primarily due to investments to complete our new aerospace structures composites manufacturing facility in Utah during the first quarter.
ATK paid cash dividends totaling $19,921 on its common stock during the first nine months of fiscal 2012. On January 31, 2012, ATK’s Board of Directors declared a quarterly cash dividend. The $0.20 per share dividend will be payable on March 29, 2012, to stockholders of record on March 7, 2012. The payment and amount of any future dividends are at the discretion of the Board of Directors and will be based on a number of factors, including ATK’s earnings, liquidity position, financial condition, capital requirements, credit ratings, and the availability and cost of obtaining new debt. We cannot be certain that ATK will continue to declare dividends in the future and, as such, the amount and timing of any future dividends are not determinable.
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