April 28, 2009 (FinancialWire) — Ammunition and aerospace firm Alliant Techsystems (NYSE: ATK) said that it expects to record a $105 to $115 million or $3.08 to $3.38 per share, non-cash, non-deductible goodwill impairment charge in the fourth quarter of its fiscal year 2009.

According to ATK, the charge is primarily due to the adverse equity market environment, which has resulted in a decline of the company’s common stock and subsequent implied decline in the valuations of its spacecraft systems division.

The charge is primarily attributable to goodwill recorded in connection with certain acquisitions made from 2003 through 2007. The company said it is in the process of finalizing the actual amount of the impairment charge, which it said will be completed prior to reporting its fourth quarter and full-year 2009 financial results on May 7.

ATK said that its earnings per share from continuing operations, prior to the charge, are now expected to exceed the company’s previous guidance of $7.40 to $7.50.

Minneapolis-based Alliant Techsystems is an aerospace and defense company with more than 19,000 employees in 22 states, Puerto Rico and internationally.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.