ATK Sporting Group Sales Up 15% as Defense Cuts Take Hold; Mark DeYoung Comments

Mark DeYoung

Mark DeYoung

ATK‘s sporting group has seen a 15 percent sales increase in 2013 amidst defense spending cuts in the U.S. and a worldwide ammunition shortage, Guns.com reports.

Max Slowik writes the group manufactures firearms and ammunition and the group’s full-year earnings were $118 million.

ATK recently agreed to acquire shotgun maker Savage Sports Corp. for $315 million, a deal that is expected to close by the end of this month.

Mark DeYoung, president and CEO, told the Washington Post the acquisition of Savage aims to turn ATK into a “one-stop shop” for guns and ammunition.

Guns.com reports many police departments are having trouble finding ammunition supplies and that effect stretches to Australia and New Zealand.

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