Alliant Techsystems raises forecast after profit beats estimates

Thu Aug 9, 2012 8:24am EDT

* First-quarter earnings $2.16 per share vs est $1.42

* First-quarter rev $1.08 bln vs est $963.7 mln

* Sees FY13 earnings of $7.00-$7.30 per share

* Sees FY13 rev of $4.05 bln-$4.15 bln

Aug 9 (Reuters) - Alliant Techsystems Inc reported a first-quarter profit above a nalysts' expectations on increased sales at its defense and sporting businesses, and raised its full-year forecast.

The company, a supplier of bullets and booster rockets, forecast 2013 earnings between $7.00 and $7.30 per share on revenue of $4.05 billion to $4.15 billion.

It had earlier forecast earnings of between $6.25 and $6.55 per share on revenue of $4.0 billion to $4.1 billion.

Sales at the defense segment rose 5 percent to $514.5 million in the first quarter, driven by completed contracts for the Radford Army Ammunition Plant. Sporting sales rose 19 percent to $273.2 million on higher volume in its ammunition and accessories divisions.

Revenue was flat at $1.08 billion.

Net income fell to $70.8 million, or 2.16 per share, from $71.5 million, or $2.13 per share, a year earlier.

Analysts on average had expected earnings of $1.42 on revenue of $963.7 million, according to Thomson Reuters I/B/E/S.

Shares of the Arlington, Virginia-based company have gained 13 percent since hitting a year-low in July. They closed at $48.48 on the New York Stock Exchange on Wednesday.

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