Press release
Kratos Reports Fourth Quarter and Full Year 2019 Financial Results
Full Year 2019 Revenues of $717.5 Million Increase 16.1% over Full Year 2018 Revenues Fourth Quarter 2019 Revenues of $185.1 Million Increase 12.6% over
About this update from Kratos Defense & Security Solutions, Inc.
[{"type":"text","content":"Full Year 2019 Revenues of $717.5 Million Increase 16.1% over Full Year 2018 Revenues\n Fourth Quarter 2019 Revenues of $185.1 Million Increase 12.6% over Fourth Quarter 2018 Revenues Full Year 2019 Unmanned Systems Revenues of $161.4 Million Increase 21.4% over Full Year 2018 Revenues Full Year 2019 Operating Income of $38.0 Million Increase 24.6% over Full Year 2018 Operating Income Provides Initial Full Year 2020 Financial Guidance SAN DIEGO, Feb. 24, 2020 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, today reported its fourth quarter 2019 and full year 2019 financial results. For the fourth quarter 2019, Kratos reported Revenues of $185.1 million, a 12.6% increase over the fourth quarter of 2018, and fourth quarter 2019 Adjusted EBITDA of $20.2 million, a 12.2% increase over the fourth quarter of 2018. Revenues grew organically 3.6% from the fourth quarter of 2018 to the fourth quarter of 2019 excluding the impact of the 2019 FTT acquisition. Operating Income was $9.3 million for the fourth quarter of 2019. Fourth quarter 2019 Cash Flow from Operations was a use of $1.3 million, which primarily reflects the delay of certain expected contract milestone receipts. Adjusted EPS* was $0.09 for the fourth quarter of 2019. Kratos reported fourth quarter 2019 Net Income of $3.0 million, which includes legal costs of $0.6 million related to an ongoing dispute with an international customer. GAAP EPS was $0.03 for the fourth quarter of 2019. Full year 2019 revenues of $717.5 million increased $99.5 million or 16.1% over full year 2018 revenues. Full year 2019 revenues increased organically 7.6% excluding the impact of the FTT acquisition. Full year 2019 Adjusted EBITDA of $77.3 million increased 27.8% over full year 2018 Adjusted EBITDA of $60.5 million. Full year 2019 Operating income of $38.0 million increased 24.6% over full year 2018 Operating income of $30.5 million. Full year 2019 Adjusted EPS of $0.34 increased 41.7% over 2018 Adjusted EPS of $0.24 and 2019 Net income of $12.5 million increased 457.1% from 2018 Net loss of $3.5 million. GAAP EPS was $0.11 for full year fiscal 2019. For full year 2019, Kratos’ Unmanned Systems Division (KUSD) reported Revenues of $161.4 million, an increase of $28.5 million, or 21.4%, over full year 2018 Revenues of $...