Kratos Loss Narrower Than Estimates

(RTTNews) - Kratos Defense & Security Solutions Inc (KTOS) on Thursday reported first-quarter net loss of $16.3 million or $0.28 per share compared with a loss of $15 million or $0.26 per share last year.

Excluding items, adjusted loss for the quarter was $0.09 per share compared with a loss of $0.07 per share a year ago.

Kratos, which provides mission critical products to the U.S. Government, said its revenues for the quarter slid to $182.5 million from $200.1 million in the prior year.

Analysts polled by Thomson Reuters estimated a loss of $0.12 per share on revenues of $186.7 million for the quarter. Analysts' estimates typically exclude special items.

Kratos' total backlog at the end of the quarter was approximately $1.1 billion.

Kratos said it continues to work with an investment banking firm to assist in formally reviewing the company's businesses, including a sale.