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ATK Reports Record Earnings

24 May 2000

ATK, a leading aerospace and defense company and the nation's largest supplier of military ammunition, said sharply improved operating margins and an aggressive share buyback program helped boost fiscal year 2000 earnings per share from continuing operations by more than 15 percent to a record $6.36 from $5.52 last year. Paul David Miller (PDM), chairman and chief executive officer, summarized fiscal year 2000 as outstanding from a financial, operational, and strategic perspective. Sales from the Aerospace segment rose 10 percent to $436 million from $395 million last year, reflecting higher sales of rocket motors for Delta launch vehicles and composite structures. ATK is a $1.1 billion aerospace and defense company with leading market positions in munitions, precision defense capabilities, solid propulsion, and composite structures.