SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) June 19, 2002
Alliant Techsystems Inc.
(Exact Name of Registrant as Specified in Charter)
Delaware |
| 1-10582 |
| 41-1672694 |
(State or Other Jurisdiction |
| (Commission |
| (IRS Employer |
of Incorporation) |
| File Number) |
| Identification No.) |
5050 Lincoln Drive, Edina, Minnesota |
| 55436-1097 |
(Address of Principal Executive Offices) |
| (Zip Code) |
Registrant’s telephone number, including area code: (952) 351-3000
Not applicable
(Former Name or Former Address, if Changed Since Last Report)
Item 5. Other Events.
On April 1, 2002, Alliant Techsystems Inc. (the Company) realigned its business operations and now has three operating segments: Aerospace, Precision Systems, and Ammunition. These operating segments are defined based on the management reporting and reporting used by the Company’s chief executive officer. Also effective April 1, 2002, the Company will report segment results based on income from continuing operations before interest and income taxes, rather than income from continuing operations before income taxes, as was previously reported, to be more consistent with the Company's current internal reporting practices.
The Aerospace operating segment supplies solid propulsion systems for commercial and government space launch vehicles, strategic missiles, and missile defense interceptors; high-performance composite structures for space launch vehicles, military and commercial aircraft, satellites, and spacecraft; and provides operations and technical support services for space launches. The Precision Systems operating segment supplies gun-launched precision-guided munitions, fuzes and proximity sensors, electronic warfare systems, soldier systems, tactical barrier systems, tactical missile rocket motors and warheads, propulsion for missile defense systems, composite structures for aircraft and weapons systems, medium-caliber and tank ammunition, medium-caliber gun systems, and high-performance batteries for military and aerospace applications. The Ammunition operating segment supplies small-caliber military ammunition, ammunition propellant, commercial and military smokeless powder, law enforcement and sporting ammunition, and ammunition related products.
The following summarizes the Company’s results by operating segment for each quarter in the years ended March 31, 2002 and 2001 (in thousands):
|
| Fiscal 2002 |
| ||||||||||
|
| Quarter ended |
| ||||||||||
|
| July 1, 2001 |
| September 30, |
| December 30, |
| March 31, 2002 |
| ||||
Sales to external customers: |
|
|
|
|
|
|
|
|
| ||||
Aerospace |
| $ | 197,699 |
| $ | 221,760 |
| $ | 233,103 |
| $ | 210,244 |
|
Precision Systems |
| 125,966 |
| 127,246 |
| 133,756 |
| 175,263 |
| ||||
Ammunition |
| 71,551 |
| 78,561 |
| 97,269 |
| 129,187 |
| ||||
Corporate |
|
|
|
|
|
|
|
|
| ||||
Total external sales |
| 395,216 |
| 427,567 |
| 464,128 |
| 514,694 |
| ||||
Intercompany sales: |
|
|
|
|
|
|
|
|
| ||||
Aerospace |
| 276 |
| 235 |
| 569 |
| 5 |
| ||||
Precision Systems |
| 286 |
| 369 |
| 220 |
| 314 |
| ||||
Ammunition |
| 7,593 |
| 6,090 |
| 5,806 |
| 12,365 |
| ||||
Corporate |
| (8,155 | ) | (6,694 | ) | (6,595 | ) | (12,684 | ) | ||||
Total intercompany sales |
| — |
| — |
| — |
| — |
| ||||
Total sales |
| $ | 395,216 |
| $ | 427,567 |
| $ | 464,128 |
| $ | 514,694 |
|
Income from continuing operations before interest and income taxes: | |||||||||||||
Aerospace |
| $ | 30,248 |
| $ | 34,775 |
| $ | 35,740 |
| $ | 31,897 |
|
Precision Systems |
| 10,482 |
| 9,439 |
| 13,326 |
| 16,185 |
| ||||
Ammunition |
| 9,740 |
| 11,927 |
| 11,585 |
| 15,542 |
| ||||
Corporate |
| (1,684 | ) | (1,828 | ) | (2,796 | ) | (896 | ) | ||||
Income from continuing operations before interest and income taxes |
| $ | 48,786 |
| $ | 54,313 |
| $ | 57,855 |
| $ | 62,728 |
|
2
|
| Fiscal 2001 |
| ||||||||||
|
| Quarter ended |
| ||||||||||
|
| July 2, 2000 |
| October 1, |
| December 31, |
| March 31, 2001 |
| ||||
Sales to external customers: |
|
|
|
|
|
|
|
|
| ||||
Aerospace |
| $ | 100,305 |
| $ | 102,159 |
| $ | 89,560 |
| $ | 92,173 |
|
Precision Systems |
| 91,646 |
| 99,768 |
| 119,632 |
| 158,966 |
| ||||
Ammunition |
| 78,133 |
| 69,692 |
| 67,157 |
| 72,758 |
| ||||
Corporate |
|
|
|
|
|
|
|
|
| ||||
Total external sales |
| 270,084 |
| 271,619 |
| 276,349 |
| 323,897 |
| ||||
Intercompany sales: |
|
|
|
|
|
|
|
|
| ||||
Aerospace |
|
|
| 31 |
| 2 |
|
|
| ||||
Precision Systems |
| 48 |
| 2 |
|
|
|
|
| ||||
Ammunition |
| 9,184 |
| 1,975 |
| 3,569 |
| 9,080 |
| ||||
Corporate |
| (9,232 | ) | (2,008 | ) | (3,571 | ) | (9,080 | ) | ||||
Total intercompany sales |
| — |
| — |
| — |
| — |
| ||||
Total sales |
| $ | 270,084 |
| $ | 271,619 |
| $ | 276,349 |
| $ | 323,897 |
|
Income from continuing operations before interest and income taxes: | |||||||||||||
Aerospace |
| $ | 19,829 |
| $ | 20,255 |
| $ | 14,409 |
| $ | 16,008 |
|
Precision Systems |
| 1,577 |
| 1,078 |
| 11,764 |
| 16,329 |
| ||||
Ammunition |
| 10,209 |
| 11,833 |
| 10,469 |
| 7,089 |
| ||||
Corporate |
| (378 | ) | 277 |
| (1,182 | ) | (3,472 | ) | ||||
Income from continuing operations before interest and income taxes |
| $ | 31,237 |
| $ | 33,443 |
| $ | 35,460 |
| $ | 35,954 |
|
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ALLIANT TECHSYSTEMS INC. | |
|
|
|
| By: | /s/ Eric S. Rangen |
|
| Name: Eric S. Rangen |
|
| Title: Vice President and Chief Financial Officer |
Date: June 19, 2002
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