Alliant Q2 Profit Rises; Lifts FY15 Earnings View

(RTTNews) - Alliant Techsystems Inc. (ATK) Thursday posted a rise in net earnings for the first quarter, reflecting higher sales growth in the company's Sporting division and Aerospace division. In addition, the company raised it annual earnings outlook, while confirming its sales guidance.

The company's net earnings rose to $85.6 million or $2.59 per share from $72.03 million or $2.24 per share in the prior-year period.

On an adjusted basis, the group earned $2.86 per share. On average, 12 analysts polled by Thomson-Reuters estimated the company's earnings to be $2.44 per share for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly sales rose 18 percent to $1.3 billion from $1.07 billion, driven by higher sales in the Sporting Group (including acquisitions) and the Aerospace Group. Analysts expected revenues of $1.24 billion.

Further, the company lifted its annual earnings guidance and now expects earnings per share excluding transaction costs to be in the range of $11.50 - $11.90, up from the prior range of $10.80 - $11.20. The company still expects sales in the range of $5.15 billion - $5.25 billion. Analysts project earnings per share of $11.26, on revenues of $5.15 billion.