Alliant raises 2009 profit forecast on expected cost savings

MINNEAPOLIS—Alliant Techsystems Inc. raised its fiscal 2009 profit target because it expects lower operating costs, the military contractor said Thursday.

ATK, which makes ammunition, propulsion systems and aerospace supplies, now expects profit of $7.15 to $7.35 per share in the year ending March 31. In February, the company told Wall Street to look for profit of $7.10 to $7.40 per share.

Analysts expect earnings of $7.39 per share, according to a Thomson Financial poll.

ATK reiterated its sales forecast of $4.5 billion. The higher profit will come "primarily on increased operating efficiencies, with additional benefit from reduced pension expenses," the company said.