Kratos Defense & Security Solutions (KTOS) FY2018 results: revenue $618 million, up 2.4% on the year
Kratos Defense & Security Solutions, Inc. (KTOS) reported revenue of $618 million for fiscal 2018, the year ended 30 December 2018, up 2.4% on the year before. Net income was -$4 million, and diluted earnings per share $-0.03. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2019.
Revenue
$618 million
+2.4% on the year
FY2011FY2018
Operating margin
4.9%
-2.0% a year earlier
FY2011FY2018
Net income
-$4 million
FY2011FY2018
Diluted EPS
-$0.03
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
618
603
542
+2.4%
Cost of revenue
448
446
421
+0.6%
Gross profit
170
158
120
+7.7%
Gross margin
27.5%
26.1%
22.2%
Research and development
15.6
17.8
13.9
-12.4%
Selling, general and administrative
120
127
115
-5.9%
Operating income
30.5
-12.0
-18.0
Operating margin
4.9%
-2.0%
-3.3%
Interest expense
21.6
29.1
34.7
-25.8%
Pre-tax income
8.7
-57.1
-51.8
Income tax
4.6
-10.2
5.8
Effective tax rate
52.9%
n/a
n/a
Net income
-3.5
-42.7
-60.5
Net margin
-0.6%
-7.1%
-11.2%
Diluted EPS
-$0.03
-$0.48
-$0.99
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
10.4
-27.7
-13.1
Capital expenditure
22.6
26.1
9.0
-13.4%
Free cash flow
-12.2
-53.8
-22.1
Free cash flow margin
-2.0%
-8.9%
-4.1%
Cash from investing
40.5
n/a
n/a
Cash from financing
1.7
113
n/a
-98.5%
Depreciation and amortisation
17.9
22.2
22.5
-19.4%
Share-based compensation
7.2
7.8
5.1
-7.7%
Diluted shares, weighted
106m
90m
61m
+18.5%
Shares outstanding at period end
104m
103m
74m
+0.5%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
519
512
276
+1.5%
Redeemable equity
0.0
n/a
n/a
Debt
294
294
432
-0.0%
Other liabilities
197
218
240
-9.9%
Total liabilities and equity
1,010
1,024
949
-1.4%
Fixed assets
67.1
58.0
49.8
+15.7%
Goodwill
426
426
485
0.0%
Intangible assets
16.1
22.0
32.6
-26.8%
Cash and equivalents
183
130
69.1
+40.0%
Receivables
64.6
74.2
229
-12.9%
Inventory
46.8
49.6
57.2
-5.6%
Other assets
207
264
25.1
-21.6%
Total assets
1,010
1,024
949
-1.4%
10-K for the year ended 30 December 2018, filed 28 February 2019: the filing.