ATK Precision Guided Mortar Munition Goes Three-for-Three in a Series of Guided Flight Tests
MINNEAPOLIS, April 30 /PRNewswire-FirstCall/ -- Alliant Techsystems (NYSE: ATK) went three-for-three in a series of guided flight tests of its Precision Guided Mortar Munition (PGMM). The flight tests were conducted at the Yuma Proving Grounds, Yuma Arizona on March 20-21. Each of the projectiles flew approximately 2.5 miles to the target, demonstrating in-flight maneuverability, repeatability and precision strike capability.
"The guided flight tests prove that ATK's Precision Guided Mortar Munition will be an extremely effective and reliable precision munition our soldiers can count on," said Dave Rathe, PGMM Program Director. "It will be particularly effective in urban combat and will significantly reduce the possibility of collateral damage."
In December 2004, ATK received the initial $80 million System Design and Development (SDD) contract to give the U.S. Army an unmatched precision advantage in 120mm mortars. Since commencing work under the SDD contract, ATK has achieved a number of key milestones, including a successful preliminary design review, guided flight tests and a successful critical design review. ATK remains confident that it will meet all technical, cost and schedule requirements of the SDD contract, assuming all of the initial funding is provided to the company.
"The precision and affordability of ATK's PGMM gives our warfighters the ability to place indirect fire on enemy targets quickly and independently of whether there is artillery support in the combat area or not," said Rathe. "There is a clear need for this ammunition and it is our hope that it will be fielded as rapidly as possible to support the urgent requirements of our nation's warfighters."
ATK is a $3.5 billion advanced weapon and space systems company employing approximately 15,500 people in 21 states. News and information can be found on the Internet at http://www.atk.com/.
Certain information discussed in this press release constitutes forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Although ATK believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Among those factors are: changes in governmental spending, budgetary policies and product sourcing strategies; the company's competitive environment; the terms and timing of awards and contracts; and economic conditions. ATK undertakes no obligation to update any forward-looking statements. For further information on factors that could impact ATK, and statements contained herein, please refer to ATK's most recent Annual Report on Form 10-K and any subsequent quarterly reports on Form 10-Q and current reports on Form 8-K filed with the U.S. Securities and Exchange Commission.
Media Contact:
Bryce Hallowell
Phone: 952-351-3087
E-mail: bryce.hallowell@atk.com
Investor Contact:
Steve Wold
Phone: 952-351-3056
E-mail: steve.wold@atk.com
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