Kratos Defense & Security Solutions (KTOS) FY2019 results: revenue $718 million, up 16.1% on the year
Kratos Defense & Security Solutions, Inc. (KTOS) reported revenue of $718 million for fiscal 2019, the year ended 29 December 2019, up 16.1% on the year before. Net income was $12 million, and diluted earnings per share $0.11. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2020.
Revenue
$718 million
+16.1% on the year
FY2012FY2019
Operating margin
5.3%
4.9% a year earlier
FY2012FY2019
Net income
$12 million
FY2012FY2019
Diluted EPS
$0.11
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
718
618
603
+16.1%
Cost of revenue
528
448
446
+17.7%
Gross profit
190
170
158
+12.0%
Gross margin
26.5%
27.5%
26.1%
Research and development
18.0
15.6
17.8
+15.4%
Selling, general and administrative
131
120
127
+9.2%
Operating income
38.0
30.5
-12.0
+24.6%
Operating margin
5.3%
4.9%
-2.0%
Interest expense
23.5
21.6
29.1
+8.8%
Pre-tax income
15.7
8.7
-57.1
+80.5%
Income tax
4.8
4.6
-10.2
+4.3%
Effective tax rate
30.6%
52.9%
n/a
Net income
12.5
-3.5
-42.7
Net margin
1.7%
-0.6%
-7.1%
Diluted EPS
$0.11
-$0.03
-$0.48
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
30.0
10.4
-27.7
+188.5%
Capital expenditure
26.3
22.6
26.1
+16.4%
Free cash flow
3.7
-12.2
-53.8
Free cash flow margin
0.5%
-2.0%
-8.9%
Cash from investing
-43.7
40.5
n/a
Cash from financing
3.5
1.7
113
+105.9%
Depreciation and amortisation
23.4
17.9
22.2
+30.7%
Share-based compensation
11.0
7.2
7.8
+52.8%
Diluted shares, weighted
109m
106m
90m
+2.9%
Shares outstanding at period end
107m
104m
103m
+2.8%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
574
519
512
+10.6%
Redeemable equity
15.0
0.0
n/a
Debt
295
294
294
+0.3%
Operating lease liabilities
37.6
n/a
n/a
Finance lease liabilities
38.4
n/a
n/a
Other liabilities
226
197
218
+14.9%
Total liabilities and equity
1,186
1,010
1,024
+17.4%
Fixed assets
117
67.1
58.0
+74.2%
Goodwill
456
426
426
+7.0%
Intangible assets
39.5
16.1
22.0
+145.3%
Cash and equivalents
173
183
130
-5.5%
Receivables
85.0
64.6
74.2
+31.6%
Inventory
n/a
46.8
49.6
Other assets
316
207
264
+52.8%
Total assets
1,186
1,010
1,024
+17.4%
10-K for the year ended 29 December 2019, filed 24 February 2020: the filing.