Printer Friendly

ALLIANT TECHSYSTEMS EXPECTS RECORD SALES AND STRONG CASH FLOW IN FOURTH QUARTER

 ALLIANT TECHSYSTEMS EXPECTS RECORD SALES
 AND STRONG CASH FLOW IN FOURTH QUARTER
 MINNEAPOLIS, April 2 /PRNewswire/ -- Alliant Techsystems (NYSE: ATK) today said it expects to report record quarterly sales and strong cash flow for its fourth quarter, which ended March 31.
 Sales are expected to total approximately $500 million, an increase of nearly 80 percent over sales in the comparable quarter a year ago. Cash generated during the quarter totaled $85 million, resulting in a cash balance at the end of the quarter of approximately $75 million.
 Total debt at the end of the quarter was $130.5 million, down from $153.5 million a year ago.
 Toby G. Warson, president and chief executive officer, said the strong sales and cash flow results were in line with the company's expectations for the fourth quarter.
 "We worked very hard at resolving a number of technical and contractual issues with vendors and customers that delayed sales on key programs in the third quarter," said Warson. "The successful resolution of those issues together with good shipments on other programs resulted in a strong finish to our first full year as an independent company."
 Warson said earnings from continuing operations for the fourth quarter are expected to be in line with projections. The company will release full financial results for the fourth quarter and fiscal year in May.
 Alliant Techsystems' information storage segment will be reported as a discontinued operation in the company's year-end financial statements as a result of an authorization by the company's board of directors last week to divest the segment. The company previously announced it was evaluating a number of strategic options for the segment, including divestiture, and that discussions with potential buyers had begun.
 Alliant Techsystems supplies defense and marine systems to the U.S. government and its allies. The company is headquartered in Edina, Minn. and employs 6,700 people throughout the United States.
 -0- 4/2/92
 /CONTACT: (Media) Rod Bitz, 612-939-2646, or (Investor) Richard N. Jowett, 612-939-2777, both of Alliant Techsystems/
 (ATK) CO: Alliant Techsystems ST: Minnesota IN: ARO SU: ERN


AL -- MN002 -- 4211 04/02/92 09:01 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 2, 1992
Words:354
Previous Article:SCHWAB ANNOUNCES NO-ANNUAL FEE INDIVIDUAL RETIREMENT ACCOUNT AND LIFETIME GUARANTEE FOR QUALIFYING INVESTORS
Next Article:ODETICS SHIPS NEW TCS90 CART MACHINE TO JAPANESE SATELLITE TELEVISION
Topics:


Related Articles
ALLIANT TECHSYSTEMS REPORTS THIRD-QUARTER NET INCOME OF 80 CENTS PER SHARE; EXPECTS SALES TO SHIFT TO FOURTH QUARTER
/FIRST AND FINAL ADD -- MN001 -- ALLIANT TECHSYSTEM EARNINGS/
ALLIANT TECHSYSTEMS REPORTS STRONG GROWTH IN INCOME FOR FISCAL YEAR 1992
ALLIANT TECHSYSTEMS EXPECTS LOWER SALES IN FISCAL YEAR 1994
ALLIANT TECHSYSTEMS REPORTS FY94 FIRST QUARTER NET INCOME OF $8.4 MILLION OR 83 CENTS PER SHARE
ALLIANT TECHSYSTEMS REPORTS PRELIMINARY SECOND-QUARTER RESULTS
/C O R R E C T I O N -- Alliant Techsystems/ (Correction Notice)
EXPIRATION OF HART-SCOTT-RODINO WAITING PERIOD CLEARS WAY FOR ALLIANT TECHSYSTEMS' ACQUISITION OF HERCULES AEROSPACE
Alliant Techsystems Fiscal Year 1997 Earnings From Continuing Operations Increase 12 Percent to $4.03 Per Share Excluding Non-Recurring Environmental...
Alliant Techsystems Fiscal Year 1998 Income From Continuing Operations Increases 26 Percent to $5.08 Per Share

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters