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Alliant Techsystems Inc. Reports Operating Results (10-Q)

February 09, 2011 | About:

Alliant Techsystems Inc. (ATK) filed Quarterly Report for the period ended 2011-01-02.

Alliant Techsystems Inc. has a market cap of $2.51 billion; its shares were traded at around $71.53 with a P/E ratio of 7.6 and P/S ratio of 0.5. Alliant Techsystems Inc. had an annual average earning growth of 14.9% over the past 10 years. GuruFocus rated Alliant Techsystems Inc. the business predictability rank of 5-star.Hedge Fund Gurus that owns ATK: Steven Cohen of SAC Capital Advisors. Mutual Fund and Other Gurus that owns ATK: Jean-Marie Eveillard of First Eagle Investment Management, LLC, David Dreman of Dreman Value Management, Chuck Royce of Royce& Associates, Chuck Royce of Royce& Associates.

Highlight of Business Operations:

· Orders for the quarter of $1.2 billion with total backlog of $6.6 billion.

· On September 13, 2010, ATK notified holders of its 2.75% Convertible Senior Subordinated Notes, that were to mature on February 15, 2024, of its intention to redeem the notes on October 14, 2010. Of the $279,763 aggregate principal amount outstanding, $279,735 were redeemed in October, which ATK paid in cash. Holders of the remaining $28 elected to convert their Notes and were paid that amount in cash following the end of the conversion period in November.

· On October 7, 2010, ATK entered into a Second Amended and Restated Credit Agreement which is comprised of a Term A Loan of $400,000 and a $600,000 Revolving Credit Facility, both of which mature in 2015.

ATK used the purchase method of accounting to account for this acquisition and, accordingly, the results of Blackhawk are included in ATKs consolidated financial statements at the date of acquisition. The purchase price for the acquisition will be allocated to the acquired assets and liabilities based on estimated fair value. Subsequent to the April 2010 acquisition, ATK has recorded sales of approximately $21,000 and $60,000 and income before interest, income taxes, and noncontrolling interest of approximately $4,400 and $6,900 in the quarter and nine months ended January 2, 2011, respectively, associated with the operations of this acquired business. Pro forma information on the results of operations for fiscal 2010 as if the acquisition had occurred at the beginning of fiscal 2010 is not being presented because the acquisition is not material to ATK for that purpose.

· a $172,500 decrease resulting from the wind-down of the Space Shuttle Program which was partially offset by $68,500 of higher Ares I program sales within space launch systems,

· a decrease of $27,900 within advanced weapons due to the wind-down of several large caliber programs partially offset by $20,500 of higher sales volume on guided projectile programs, and

Read the The complete Report

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Charlie Tian, Ph.D. - Founder of GuruFocus. You can now order his book Invest Like a Guru on Amazon.

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