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Alliant Tech Realigns, Guides Lower

The company realigns its operations and guides earnings lower for 2006.
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Alliant Techsystems


announced late Monday a realignment of its operations and the appointment of John Shroyer as chief financial officer.

The Minneapolis-based weapons and space company also revised its financial guidance for full-year 2006 and 2007.

Alliant said that Shroyer, who has been vice president of operations since 2005 and concurrently serves as president of mission research, replaces Eric Rangen effective April 1. Rangen is leaving to pursue other business opportunities.

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Under the realignment, also effective April 1, the company will conduct operations under three business groups: mission systems, launch systems and ammunition systems.

Alliant also lowered its fiscal 2006 earnings forecast to a range of $3.98 to $4.01 a share, compared with the previous forecast of $4.55 to $4.58, and reaffirmed its

revenue forecast of $3.1 billion.

Operating cash guidance is revised to $225 million vs. previous guidance of $240 million, to reflect swap terminations and accelerated interest payments in conjunction with its tender offer, offset by stronger operating performance, the company said.

For fiscal 2007, the company increased its earnings forecast to a range of $4.75 to $4.90 a share from the previous range of $4.65 to $4.80, and edged up its revenue forecast to $3.35 billion from $3.3 billion.

Shares of Alliant ended the regular session up 24 cents to $75.18.