Kratos Reports Net Loss of $9.9M for Q3Friday, November 8, 2013
Kratos Defense & Security Solutions Inc. reported a net loss of $9.9 million on total revenues of $226.4 million during the third quarter ended Sept. 29. That compares with a net loss of $4.2 million on total revenue of $276.3 million in the third quarter of 2012.
For the first nine months of 2013, Kratos (Nasdaq: KTOS) reported a net loss of $29.8 million on total revenues of $714.9 million. That compares with a net loss of $24.4 million on total revenues of $705.6 million in the first nine months of 2012.
The San Diego defense contractor said that it expected a 10 percent increase in revenue during the fourth quarter. For the year, Kratos said it expected revenue in the range of $955 million to $975 million.
As the third quarter wrapped up, the company reported a $1.1 billion backlog of work, unchanged from the end of the second quarter.
— SDBJ Staff Report