Kratos Defense & Security Solutions (KTOS) FY2016 results: revenue $542 million, down 17.5% on the year
Kratos Defense & Security Solutions, Inc. (KTOS) reported revenue of $542 million for fiscal 2016, the year ended 25 December 2016, down 17.5% on the year before. Net income was -$60 million, and diluted earnings per share $-0.99. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2017.
Revenue
$542 million
-17.5% on the year
FY2009FY2016
Operating margin
-3.3%
-1.5% a year earlier
FY2009FY2016
Net income
-$60 million
FY2009FY2016
Diluted EPS
-$0.99
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
542
657
763
-17.5%
Cost of revenue
421
388
584
+8.5%
Gross profit
120
124
179
-3.0%
Gross margin
22.2%
18.9%
23.5%
Research and development
13.9
16.2
18.6
-14.2%
Selling, general and administrative
115
118
154
-3.0%
Operating income
-18.0
-9.6
5.3
Operating margin
-3.3%
-1.5%
0.7%
Interest expense
34.7
36.0
39.4
-3.6%
Pre-tax income
-51.8
-49.6
-71.8
Income tax
5.8
-13.8
3.9
Net income
-60.5
19.8
-78.0
Net margin
-11.2%
3.0%
-10.2%
Diluted EPS
-$0.99
$0.34
-$1.35
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
-13.1
-26.9
6.6
Capital expenditure
9.0
11.3
11.6
-20.4%
Free cash flow
-22.1
-38.2
-5.0
Free cash flow margin
-4.1%
-5.8%
-0.7%
Depreciation and amortisation
22.5
25.5
32.4
-11.8%
Share-based compensation
5.1
6.1
3.6
-16.4%
Diluted shares, weighted
61m
59m
58m
+4.4%
Shares outstanding at period end
74m
59m
58m
+25.0%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
276
254
224
+8.7%
Debt
432
445
656
-2.9%
Other liabilities
240
204
250
+17.7%
Total liabilities and equity
949
903
1,131
+5.0%
Fixed assets
49.8
56.2
61.6
-11.4%
Goodwill
485
483
483
+0.4%
Intangible assets
32.6
36.5
49.5
-10.7%
Cash and equivalents
69.1
28.5
33.5
+142.5%
Receivables
229
207
218
+10.9%
Inventory
57.2
56.3
48.3
+1.6%
Other assets
25.1
35.6
237
-29.5%
Total assets
949
903
1,131
+5.0%
10-K for the year ended 25 December 2016, filed 27 February 2017: the filing.