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TheStreet Open House

Alliant Techsystems Management Discusses Q1 2013 Results - Earnings Call Transcript

Stocks in this article: ATK

And with that said, I'll turn the call over to you, Mark.

Mark W. DeYoung

All right. Thank you, Steve. Good morning, everyone. Thanks for joining us again today. We appreciate it. We just completed our first quarter, operating and our streamlined 3-group structure. It's delivering expected benefits of improved customer engagement on existing and future programs, improved efficiency, reduced costs and enhanced support of our customers' needs, to remain competitive and growing in a challenging environment, and a support evolving customer needs. ATK will continue to focus on efficiency improvement, cost reduction and our execution excellence initiatives. In addition, we'll strengthen our balance sheet, we'll invest in the future, and we'll focus on delivering long-term growth and shareholder value.

I want to take a moment today and break down some of the performance in each of the 3 business groups. The Aerospace Group is meeting expectations and delivering as planned on the Airbus A350 program. The group has shipped aircraft 6th and has manufactured more than 8,000 quality parts. We learned last week, that NASA did not select ATK's Liberty System for commercial crew, but we offered a safe, mature, affordable solution to NASA, and we're looking forward to learning more about their decision.

NASA did announce that we received the Space Launch System advanced booster award. Our proposed motor design leveraged our broad experience and composites in advanced propellants and emerging propulsion technologies. ATK also, with our technologies, have played a critical role on the NASA "Curiosity" Rover that recently landed on Mars, and we're proud of our contributions and congratulate NASA on a great achievement in space exploration.

Moving to Defense Group. The U.S. Air Force designated our Mk44 Bushmaster Automatic Cannon ready for operational use on airborne platforms. We've integrated this reliable weapon system into a palletized mount for weaponizing small aircraft. We displayed a version of the system in our Alenia MC-27J gunship at the Farnborough Air Show, and we're happy to report we received numerous inquiries from potential new international customers for that solution.

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