Alliant profit increases 14% on space, ammunition sales

Updated: January 31, 2008 - 8:53 PM

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Increased missile, ammunition, and launch system sales boosted Alliant Techsystems Incorporated's third-quarter earnings by 14 percent to $58 million, or $1.65 a share, six cents better than Wall Street analysts expected. Sales for the Edina company rose 17 percent to $1.1 billion with the help of strong small- and medium-caliber ammunition sales and new contracts for NASA's Ares I space shuttle replacement, military defense electronics and satellite parts.

CEO Dan Murphy called the quarter "exceptional" and raised Alliant's full-year forecast for 2008 to $6.25 to $6.35 per share, up from the previous forecast of $6.20 to $6.30. Full-year sales should hit $4.1 billion. For 2009, Alliant forecasts sales of $4.5 billion and earnings of $7.10 to $7.30 a share.

For the quarter, Alliant's ammunitions systems group increased sales 15 percent to $331 million.

Sales at the launch systems group, which long has made rocket boosters for the space shuttle, rose 12 percent to $274 million.

Sales for the mission systems group jumped 22 percent to $366 million with help from a contract for an Ares I attitude-control motor and acquisition in May of satellite parts maker Swales Aerospace. Swales added $38 million in revenue.