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ATK Swings To Profit In Fourth Quarter Despite Slight Sales Decline

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By Calvin Biesecker ATK [ATK] yesterday said it swung to a profit in the fourth quarter despite relatively flat sales due in part to hefty charges a year ago that caused a net loss and strong results in its ammunition business. Net income swung to a $58.4 million profit, $1.73 earnings per share (EPS), compared to a loss of $36.4 million ($1.12 EPS) a year ago. Both periods include non-cash impairment charges. Excluding those charges, ATK's operating profits increased 13…

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