Kratos Defense Grows Annual Revenue to $969MWednesday, March 13, 2013
Closing the books on its 2012 fiscal year, Kratos Defense & Security Solutions Inc. reported a net loss of $114.4 million on revenue of $969.2 million.
In the same period one year ago, Kratos reported a net loss of $24.2 million on revenue of $713.9 million.
In the fourth quarter of 2012, which ended Dec. 30, Kratos said it took a net loss of $90.0 million on revenue of $263.6 million. In the final quarter of 2011, Kratos reported a net loss of $8.6 million on total revenue of $213.4 million. The 2011 fiscal year ended Dec. 25.
At the same time it released quarterly results, Kratos said it recorded a noncash goodwill and intangible asset impairment charge of $96.6 million. Kratos said the charge “is related primarily to previously acquired legacy services businesses, which the company has de-emphasized as part of its core strategy over the past several years, as Kratos builds a specialty product and technology-based business.”
The defense contractor also reported it had a backlog of work worth $1.3 billion.
Shares of Kratos trade on the Nasdaq under the symbol KTOS.
— SDBJ Staff Report