Alliant Techsystems posts 28 percent increase in 1st-quarter profit on higher ammunition sales

Alliant Techsystems 1Q profit up on strong sales

MINNEAPOLIS — Military contractor Alliant Techsystems Inc. said Thursday its fiscal first-quarter profit rose 28 percent on higher ammunition sales and improved margins, topping analysts’ expectations.

The company also raised its full-year earnings and sales forecast.

For the quarter ended July 5, Alliant Techsystems posted a profit of $69.4 million, or $2.09 per share, up from $54.4 million, or $1.55 per share, last year.

Sales rose 7.5 percent to $1.21 billion from $1.12 billion on strong demand for commercial ammunition products, military ammunition and new international ammunition sales.

Analysts polled by Thomson Reuters expected a profit of $1.95 per share on $1.16 billion in sales.

Orders in the quarter more than doubled to $1.6 billion on strong demand for the company’s ammunition and commercial aerospace structures.

In morning trading, Alliant Techsystems shares rose $2.31, or 2.9 percent, to $81.29.