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Press release from PR Newswire

ATK Announces FY13 Financial Guidance - Highlights Commitment to Performance Excellence, Innovation and Cash Deployment to Enhance Shareholder Value

Tuesday, March 13, 2012

ATK Announces FY13 Financial Guidance - Highlights Commitment to Performance Excellence, Innovation and Cash Deployment to Enhance Shareholder Value08:00 EDT Tuesday, March 13, 2012ATK Reaffirms FY12 Financial GuidanceARLINGTON, Va., March 13, 2012 /PRNewswire/ -- 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 Certain information discussed in this press release constitutes forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995.  Although ATK believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends, and uncertainties that could cause actual results to differ materially from those projected. Among these factors are: assumptions related to the profitability of current commercial aerospace structures programs; uncertainties related to the development of NASA's new Space Launch System; demand for commercial and military ammunition; changes in governmental spending, budgetary policies and product sourcing strategies; the company's competitive environment; risks inherent in the development and manufacture of advanced technology; risks associated with the diversification into new markets; assumptions regarding the company's long-term growth strategy; assumptions regarding the growth opportunities in international and commercial markets; increases in commodity costs, energy prices, and production costs; the terms and timing of awards and contracts; program performance; program terminations; changes in cost estimates related to relocation of facilities; the outcome of contingencies, including litigation and environmental remediation; actual pension asset returns and assumptions regarding future returns, discount rates and service costs; capital market volatility and corresponding assumptions related to the company's shares outstanding; the availability of capital market financing; changes to accounting standards; changes in tax rules or pronouncements; economic conditions; and the company's capital deployment strategy, including debt repayment, dividend payments, share repurchases, pension funding, mergers and acquisitions ? including the related costs and any integration thereof. ATK undertakes no obligation to update any forward-looking statements. For further information on factors that could impact ATK, and statements contained herein, please refer to ATK's most recent Annual Report on Form 10-K and any subsequent quarterly reports on Form 10-Q and current reports on Form 8-K filed with the U.S. Securities and Exchange Commission.Media Contact: Investor Contact:  Amanda Covington Steve WoldPhone: 703-412-3231 Phone: 952-351-3056E-mail: E-mail: steve.wold@atk.comSOURCE ATK