ATK Reaffirms FY12 Financial Guidance
ATK (NYSE: ATK) announced the company’s initial Fiscal Year 2013 (FY13) top level financial guidance. ATK expects FY13 sales of approximately $4.0 to $4.1 billion, and earnings per share (EPS) in a range of $6.00 to $6.30. ATK expects FY13 operating cash flow to be $225 to $250 million, which includes the impact of pension contributions of approximately $160 million. Capital expenditures are expected to be approximately $100 million.
ATK also reaffirms its prior FY12 sales guidance of approximately $4.6 billion, EPS in a range of $7.65 to $7.75, and operating cash flow in a range of $355 to $380 million. Capital expenditures in FY12 are expected to be approximately $130 million.
“ATK is committed to outstanding execution and the delivery of innovative, mission-critical products to our customers,” said Mark DeYoung, President and CEO. “Near term, we face growth challenges that impact ATK as well as the entire sector. However, we continue to be encouraged about long-term opportunities for expansion in aircraft structures, advanced weapons, and commercial and international markets.
“We will maximize our opportunities through affordable innovation in our core competencies. We are proactively seeking operating efficiencies to remain competitive for the future, and we continue to focus on improving free cash flow. We recognize that during these challenging times, our business does not require the same capital intensity. Therefore, in addition to the affordable innovation and efficiencies mentioned earlier, we will also continue to focus on returning capital to our shareholders through cash dividends and our previously announced share repurchase program.” ATK is an aerospace, defense, and commercial products company with operations in 22 states, Puerto Rico, and internationally. News and information can be found on the Internet at www.atk.com.
