866121--5/23/2008--ALLIANT_TECHSYSTEMS

related topics

{cost, contract, operation}

{regulation, change, law}

{customer, product, revenue}

{regulation, government, change}

{operation, natural, condition}

{operation, international, foreign}

{competitive, industry, competition}

{acquisition, growth, future}

{personnel, key, retain}

ATK's business could be adversely impacted by reductions or changes in NASA or U.S. Government military spending. ATK may not be able to react to increases in its costs due to the nature of its U.S. Government contracts. ATK's U.S. Government contracts are subject to termination. ATK is subject to procurement and other related laws and regulations, non-compliance with which may expose ATK to adverse consequences. Novation of U.S. Government contracts involves risk. Other risks associated with U.S. Government contracts may expose ATK to adverse consequences. ATK uses estimates in accounting for its programs. Changes in estimates could affect ATK's financial results. ATK has a substantial amount of debt, and the cost of servicing that debt could adversely affect ATK's business and hinder ATK's ability to make payments on its debt. ATK is subject to intense competition and therefore may not be able to compete successfully. Failure of ATK's subcontractors to perform their contractual obligations could materially and adversely impact ATK's prime contract performance and ability to obtain future business. Disruptions in the supply of key raw materials and difficulties in the supplier qualification process, as well as increases in prices of raw materials, could adversely impact ATK. ATK's future success will depend, in part, on its ability to develop new technologies and maintain a qualified workforce to meet the needs of its customers. Due to the volatile and flammable nature of its products, fires or explosions may disrupt ATK's business. ATK is subject to environmental laws and regulations that govern both past practices and current compliance which may expose ATK to adverse consequences. The level of returns on pension and postretirement plan assets, changes in interest rates and other factors could affect ATK's earnings. International sales are subject to greater risks that sometimes are associated with doing business in foreign countries. ATK may pursue or complete acquisitions which represent additional risk and could impact future financial results. ATK's profitability could be impacted by unanticipated changes in its tax provisions or exposure to additional income tax liabilities.

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866121--5/23/2008--ALLIANT_TECHSYSTEMS_INC