Kratos: 3Q Earnings Snapshot
SAN DIEGO (AP) _ Kratos Defense & Security Solutions Inc. (KTOS) on Tuesday reported third-quarter net income of $1.7 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the San Diego-based company said it had net income of 2 cents. Earnings, adjusted for one-time gains and costs, came to 8 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.
The military contractor posted revenue of $159.4 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $157.2 million.
For the current quarter ending in December, Kratos expects its per-share earnings to range from 3 cents to 6 cents.
The company said it expects revenue in the range of $182 million to $192 million for the fiscal fourth quarter.
Kratos expects full-year earnings in the range of 18 cents to 21 cents per share, with revenue ranging from $635 million to $645 million.
Kratos shares have increased 25 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $13.19, an increase of 15 percent in the last 12 months.