Alliant Techsystems Q2 Profit Up; Raises FY14 Targets - Quick Facts

(RTTNews) - Alliant Techsystems Inc. (ATK), Thursday reported a rise in net income for the second quarter, helped by increased sales in the Sporting Group, partially offset by a sales decline in the Defense Group. The company raised its full-year 2014 outlook.

Net income attributable to Alliant Techsystems Inc. was $92.5 million or $2.86 per share, compared with $65.06 million or $2 per share last year.

On average, eleven analysts polled by Thomson Reuters expected the company to report earnings per share of $2.39 for the quarter. Analysts' estimates typically exclude one-time items.

Second quarter year-over-year sales were up 7 percent to $1.14 billion, from prior year's $1.06 billion. Analysts expected the company to generate revenues of $1.10 billion for the quarter.

Looking forward, the company raised its full-year 2014 sales guidance, including Bushnell, to a range of about $4.68 billion to $4.73 billion, up from previous guidance of $4.3 billion to $4.38 billion. The company now expects earnings of $9.10 to $9.40 per share, up from previous guidance of $8.60 to $9 per share. Analysts expect the company to report earnings of $9 per share, on revenues of $4.49 billion.