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ALLIANT TECHSYSTEMS REPORTS THIRD-QUARTER NET INCOME OF 80 CENTS PER SHARE; EXPECTS SALES TO SHIFT TO FOURTH QUARTER

ALLIANT TECHSYSTEMS REPORTS THIRD-QUARTER NET INCOME OF 80 CENTS PER
 SHARE; EXPECTS SALES TO SHIFT TO FOURTH QUARTER
 MINNEAPOLIS, Jan. 23 /PRNewswire/ -- Alliant Techsystems (NYSE: ATK) today reported net income of $8.0 million or 80 cents per share for the third quarter which ended Dec. 29, 1991. Sales in the third quarter were $252.4 million.
 In the same period a year ago, the company posted net income of $17.1 million or $1.83 per share on sales of $470.0 million.
 Toby G. Warson, president and chief executive officer, said performance comparisons to a year ago reflect two factors: abnormally high sales in last year's comparable quarter, which ended Dec. 31, 1990, and lower sales in the current quarter due to delays which are expected to shift sales to the fourth quarter.
 Results in the quarter a year ago were much stronger than normal as sales delayed from the prior period were recorded following the resolution of production and technical problems.
 Warson said the company expects a similar situation to occur in this year's fourth quarter as a result of three operational factors:
 -- The resolution of temporary technical problems associated with vendor-supplied parts on the 120mm tank ammunition program.
 -- Delivery of torpedoes, including the fulfillment of a Canadian torpedo requirement.
 -- Strong sales from the Combined Effects Munitions program.
 "We have been working very closely with our vendors and customers to resolve problems, and I'm encouraged by our progress to date," said Warson. "Although we are disappointed by our third-quarter sales, we anticipate strong sales and performance in the fourth quarter."
 Warson noted that lower sales through the first three quarters have resulted in high inventory levels. Strong fourth-quarter sales would reduce inventories and have a positive impact on cash flow, he said.
 Operating profit in the third quarter was $17.7 million versus $34.9 million a year ago. (Operating profit is gross margin less operating expenses, exclusive of restructuring costs.)
 The company's defense and marine systems segment, which consists of precision armament, ordnance, and marine systems, reported sales of $230.1 million and operating profit of $17.7 million. In the same period a year ago, the segment posted sales of $444.0 million and operating profit of $35.2 million.
 Sales from Metrum Information Storage, the company's information storage segment, were $22.3 million, while operating results were at breakeven. Sales a year ago were $26.0 million. The segment posted an operating loss of $300,000 last year.
 Nine-Month Results:
 For the nine months ended Dec. 29, 1991, net income was $28.4 million or $2.85 per share. Net income in the comparable period a year ago was $19.6 million. Last year's results included pre-tax costs of $36.4 million related to the company's spin-off from Honeywell and organizational restructuring.
 Operating profit for the nine-month period was $56.3 million versus $72.2 million last year.
 Nine-month sales were $751.7 million, compared with $1.01 billion in the same period a year ago. The decline reflects primarily lower third- quarter sales. Last year's nine-month period contained the company's fourth quarter, which accounted for 38 percent of total 1990 sales.
 In January 1991, Alliant Techsystems changed its fiscal year end from Dec. 31 to March 31. As a result, this year's third quarter is compared against the fourth quarter a year ago.
 Alliant Techsystems supplies high-quality precision armament, ordnance, marine, and information storage systems to the U.S. government and its allies. The company is headquartered in Edina, Minn., and employs 7,100 people throughout the United States.
 -0- 1/23/92
 /CONTACT: (media) Rod Bitz, 612-939-2646 or (investors) Richard N. Jowett, 612-939-2777, both of Alliant Techsystems)
 /FIRST AND FINAL ADD -- TABULAR MATERIAL -- TO FOLLOW/


AL -- MN001 -- 2609 01/23/92 08:10 EST
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Date:Jan 23, 1992
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