Kratos Defense & Security Solutions (KTOS) FY2014 results: revenue $763 million, down 9.6% on the year
Kratos Defense & Security Solutions, Inc. (KTOS) reported revenue of $763 million for fiscal 2014, the year ended 28 December 2014, down 9.6% on the year before. Net income was -$78 million, and diluted earnings per share $-1.35. The figures are the company's own, from the 10-K it filed with the SEC on 13 March 2015.
Revenue
$763 million
-9.6% on the year
FY2009FY2014
Operating margin
0.7%
2.2% a year earlier
FY2009FY2014
Net income
-$78 million
FY2009FY2014
Diluted EPS
-$1.35
FY2009FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
763
844
969
-9.6%
Cost of revenue
584
640
712
-8.8%
Gross profit
179
204
257
-12.3%
Gross margin
23.5%
24.2%
26.5%
Research and development
18.6
19.7
17.8
-5.6%
Selling, general and administrative
154
173
193
-11.1%
Operating income
5.3
18.2
-49.7
-70.9%
Operating margin
0.7%
2.2%
-5.1%
Interest expense
39.4
46.4
66.4
-15.1%
Pre-tax income
-71.8
-28.4
-114
Income tax
3.9
1.1
-1.6
+254.5%
Net income
-78.0
-37.2
-114
Net margin
-10.2%
-4.4%
-11.8%
Diluted EPS
-$1.35
-$0.65
-$2.44
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
6.6
20.5
53.6
-67.8%
Capital expenditure
11.6
13.3
16.6
-12.8%
Free cash flow
-5.0
7.2
37.0
Free cash flow margin
-0.7%
0.9%
3.8%
Depreciation and amortisation
32.4
46.4
58.0
-30.2%
Share-based compensation
3.6
7.2
6.6
-50.0%
Buybacks
n/a
0.0
0.0
Diluted shares, weighted
58m
57m
47m
+1.4%
Shares outstanding at period end
58m
57m
57m
+1.3%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
224
296
324
-24.2%
Debt
656
644
649
+1.9%
Other liabilities
250
276
310
-9.4%
Total liabilities and equity
1,131
1,217
1,284
-7.0%
Fixed assets
61.6
84.8
85.6
-27.4%
Goodwill
483
596
596
-18.9%
Intangible assets
49.5
69.9
106
-29.2%
Cash and equivalents
33.5
54.2
48.4
-38.2%
Receivables
218
266
272
-18.2%
Inventory
48.3
75.3
94.4
-35.9%
Other assets
237
70.2
81.1
+238.2%
Total assets
1,131
1,217
1,284
-7.0%
10-K for the year ended 28 December 2014, filed 13 March 2015: the filing.