Share Repurchases

9 Months Ended

Jan. 01, 2012

Share Repurchases

Share Repurchases

16.Share Repurchases

On August 5, 2008, ATK’s Board of Directors authorized the repurchase of up to 5,000,000 shares.  The Board had determined that the repurchase program would serve primarily to offset dilution from the Company’s employee and director benefit compensation programs, but could also be used for other corporate purposes, as determined by the Board.

During the first nine months of fiscal 2012, ATK repurchased 742,000 shares for $49,991.  During fiscal 2009, ATK repurchased 299,956 shares for $31,609.

On January 31, 2012, ATK’s Board of Directors authorized a share repurchase program of up to $200 million worth of shares of ATK common stock, which the Company expects to execute over the next two years. The shares may be purchased from time to time in open market, block purchase, or negotiated transactions, subject to compliance with applicable laws and regulations. This share repurchase program replaces the prior program authorized in 2008.