Kratos Reports 3Q Results, Meets Profit Forecasts
In mixed results, the business earned $161.7 million during the quarter, compared to the consensus estimate of $175 million.
SAN DIEGO – Kratos Defense and Security (NASDAQ: KTOS) on Thursday reported third-quarter net income of $55.1 million, after reporting a loss in the same period a year earlier.
Based here, the company said it had profit of 92 cents per share. Losses, adjusted for one-time gains and costs, came to 2 cents per share.
The results met Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for a loss of 2 cents per share.
The military contractor posted revenue of $161.7 million in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $175 million.
Kratos shares have dropped slightly since the beginning of the year. In the final minutes of trading on Thursday (No. 5), shares hit $5.01, a fall of 25% in the last 12 months.
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