[SatNews] ATK (NYSE: ATK) has reported operating results for the second quarter of its Fiscal Year 2011, which ended on October 3, 2010. Fully diluted earnings per share (EPS) rose 33 percent to $2.91, compared to $2.19 in the prior-year quarter. The increase primarily reflects a lower effective tax rate resulting from the favorable settlement of IRS audits of the company's FY07 and FY08 tax returns. Despite $15 million of higher pension expense, second quarter margins remained strong at 11.1 percent compared to 11.2 percent in the prior-year quarter. The margins benefitted from a continued focus across the company on cost management and efficiency improvement initiatives. Second quarter sales of $1.2 billion were in line with the prior-year quarter. Second quarter net income rose 34 percent to $97 million compared to $73 million in the prior-year quarter. Based on the strength of the company's performance during the first half of its fiscal year and continued strong margin performance, ATK is raising its full-year EPS guidance. To read the entire financial report, access this direct infolink....
Satnews Daily
November 5th, 2010
ATK... Financially Speaking...
[SatNews] ATK (NYSE: ATK) has reported operating results for the second quarter of its Fiscal Year 2011, which ended on October 3, 2010. Fully diluted earnings per share (EPS) rose 33 percent to $2.91, compared to $2.19 in the prior-year quarter. The increase primarily reflects a lower effective tax rate resulting from the favorable settlement of IRS audits of the company's FY07 and FY08 tax returns. Despite $15 million of higher pension expense, second quarter margins remained strong at 11.1 percent compared to 11.2 percent in the prior-year quarter. The margins benefitted from a continued focus across the company on cost management and efficiency improvement initiatives. Second quarter sales of $1.2 billion were in line with the prior-year quarter. Second quarter net income rose 34 percent to $97 million compared to $73 million in the prior-year quarter. Based on the strength of the company's performance during the first half of its fiscal year and continued strong margin performance, ATK is raising its full-year EPS guidance. To read the entire financial report, access this direct infolink....