Kratos Defense & Security Solutions Reports Net Loss of $10.3M for Q1Monday, May 13, 2013
San Diego-based Kratos Defense & Security Solutions Inc. reported a net loss of $10.3 million on revenue of $252.8 million during the quarter ended March 31.
In the year-ago quarter, the company reported a net loss of $3 million on revenue of $209.5 million.
Product sales in the first quarter of 2013 were $137.3 million, up 28 percent from the same quarter of 2012.
Service revenue did not grow as dramatically: the $115.5 million in revenue was 13 percent higher than the same period one year ago.
The defense and security contractor reported organic revenue growth of 8.3 percent in the first quarter of 2013. Organic revenue growth in its public safety and security business was 24.6 percent, the company said.
— SDBJ Staff Report