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| Ammo Sales Help Boost ATK Profit; More Funding For Ammo Plant
Alliant Techsystems (NYSE:ATK) reported strong performances in its ammunition and launch systems segments that helped boost net income to $58.3 million, or $1.65 per share, in the third quarter, compared to $51.2 million, or $1.53 per share, in the same period the previous year. Sales in its ammunition systems group increased by 15 percent to $381 million, compared to $331 million in the prior-year quarter. ATK also announced it has received an additional $52.2 million in funding to modernize and enhance its Lake City Army Ammunition Plant in Independence, Mo.
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