Kratos Reports First Quarter 2019 Financial Results
SAN DIEGO, May 08, 2019 (GLOBE
NEWSWIRE) -- Kratos Defense & Security Solutions, Inc.
(Nasdaq:KTOS), a leading National Security Solutions provider,
today reported its first quarter 2019 financial results. For
the first quarter 2019, Kratos reported Revenues of $160.4 million,
Adjusted EBITDA of $17.5 million, or 10.9 percent, a 27.7 percent
increase over the first quarter of 2018, Operating Income of $8.2
million, a 17.1 percent increase over the first quarter of 2018,
Cash Flow from Operations of $16.0 million, and a Free Cash Flow
from Operations of $12.0 million after capital expenditures of $4.0
million. For the first quarter 2019, the Company reported
Adjusted EPS* of $0.08, a 60.0 percent increase over the first
quarter of 2018, Net income of $3.1 million and GAAP EPS of $0.03,
a 250.0 percent increase over a first quarter 2018 GAAP EPS loss of
$0.02. Included in the first quarter 2019 Net income are
acquisition costs of $1.2 million related to the recently closed
First quarter 2019 revenues increased $17.4 million over first quarter of 2018 revenues of $143.0 million, or 12.2 percent. Included in first quarter 2019 revenues was approximately $4.2 million generated from recently acquired FTT. Excluding the impact of FTT, Kratos revenues increased organically 9.2 percent year-over-year.
For the first quarter of 2019, Kratos’ Government Solutions Division...