Press release
Kratos Reports Third Quarter Financial Results
Third Quarter Revenues of $200.6 Million Third Quarter Space, Satellite and Cyber Busines Revenues of $72.0 million Increased Organically 17.5 percent over
About this update from Kratos Defense & Security Solutions, Inc.
[{"type":"text","content":"Third Quarter Revenues of $200.6 Million Third Quarter Space, Satellite and Cyber Busines Revenues of $72.0 million Increased Organically 17.5 percent over the Third Quarter of 2020 Third Quarter Unmanned Systems Segment Revenues of $61.3 Million, Increased Organically 14.6 percent over Third Quarter 2020 Third Quarter 2021 Consolidated Book to Bill Ratio of 0.9 to 1 Last Twelve Months Ended September 26, 2021 Consolidated Book to Bill Ratio of 1.0 to 1 Third Quarter 2021 Unmanned Systems Book to Bill Ratio of 1.1 to 1 Last Twelve Months Ended September 26, 2021 Unmanned Systems Book to Bill Ratio of 1.0 to 1 SAN DIEGO, Nov. 03, 2021 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, today reported its third quarter 2021 financial results. For the third quarter of 2021, Kratos reported Revenues of $200.6 million, Operating Income of $10.5 million, Net Loss of $2.4 million and Adjusted EBITDA of $23.8 million. Included in Net Loss is a tax provision of $5.7 million on Income before taxes of $4.6 million, primarily reflecting the non-deductibility of certain non-cash stock compensation expense. Kratos reported third quarter 2021 Net Loss of $2.4 million, and GAAP EPS loss of $0.02, compared to Net Income of $2.4 million and GAAP EPS income of $0.02 for the third quarter of 2020. Adjusted EPS was $0.09 for the third quarter of 2021 compared to $0.09 for the third quarter of 2020. The Company has approximately $280 million of net operating loss carryforwards, which are expected to substantially shield Kratos from paying future cash income taxes. Third quarter 2021 Revenues of $200.6 million decreased from third quarter 2020 Revenues of $202.0 million, reflecting a reduction of legacy government services revenues of $6.2 million, down from $17.4 million in the third quarter of 2020 to $11.2 million in the third quarter of 2021 and a $5.5 million year over year decrease resulting from a previously disclosed reduction of certain international contracts in our Training Solutions business, offset partially by increased revenues in our Space, Satellite and Cyber business. On a pro forma basis, excluding these reductions, Revenue grew organically 5.8 percent in the third quarter of 2021, as compared to the third quarter of 2020. Third quarter 2021 revenues were negat...