Alliant Techsystems Earnings Help Stock to Rise
For the second day in a row, Arlington, Va.-based Alliant Techsystems shares are rising in response to the company's fiscal Q1 2014 earnings results report, which was released Thursday.
Reporting $2.24 per diluted share in net profits, Alliant's earnings were up 3.7% in comparison to the year-ago quarter. This was despite the fact that revenue at the company declined modestly. A 2% fall in the number of shares outstanding at Alliant, the result of share buybacks, helped to keep profits growing despite the 0.3% shrinkage in revenues.
Going forward, Alliant guided investors to expect a return to revenue growth with sales rising as high as $4.3 billion by the end of this current fiscal year. The company further expects to earn between $8.60 and $9 a share in GAAP profits, and to generate free cash flow of between $200 million and $225 million. Sales and earnings from the newly acquired Caliber Co., parent company of Savage Sports Corp., are expected to support reaching these targets.
The article Alliant Techsystems Earnings Help Stock to Rise originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.