Sales for the quarter were $1.1 billion, a five percent increase over the prior-year quarter. The company reported net income for the quarter of $65 million, up 12 percent from the prior-year quarter. Margins in the quarter improved to 10.8 percent, up from 10.5 percent in the prior-year period. Orders for the quarter increased 99 percent to more than $1.3 billion, up substantially from the prior-year quarter of $670 million. The strong orders growth represents a book-to-bill ratio for the quarter of 1.2 that continues to build the company’s backlog and offers significant visibility into future sales.
“This was another solid quarter for ATK, keeping us on track for strong full-year performance. We expect to end FY09 with a record total backlog of more than $7 billion,” said Dan Murphy, Chairman and CEO. “I am particularly pleased with the successful migration of our military aircraft composites expertise into next-generation commercial aviation. Though we are forecasting moderating growth in FY10, we anticipate that new sales supporting affordable solutions for our military; commercial aviation; and growing international demand for our armament and Intelligence, Surveillance and Reconnaissance systems will position us for re-accelerated sales and earnings growth in FY11 and beyond.”