Alliant Techsystems (NYSE: ATK) has reported that fully diluted earnings per share (EPS) in the first quarter of fiscal year 2010 (FY10), which ended on July 5, 2009, rose 35 percent to $2.09, compared to $1.55(1) in the prior-year quarter.

The results were driven by top line sales growth, improved operating margins, reduced share count, and the absence of $15 million in charges in the prior-year quarter related to program performance in the company's spacecraft structures business. These improvements were partially offset by increased pension expense. Based on the strength of its first quarter performance, a strong orders outlook, and better visibility into the remainder of the year, the company is raising its full-year fully diluted EPS guidance to a range of $8.45 - $8.60. ATK is also raising its full-year sales guidance to a range of $4.80 - $4.85 billion. To read the entire financial report, access this direct link.