A Satellite Earth station. Photo: Kratos

Kratos Defense & Security Solutions reported its fourth quarter and full year fiscal 2016 financial results. For the fourth quarter ended Dec. 25, 2016, Kratos generated revenue and adjusted Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) of $182.1 million and $13.4 million, respectively. Fourth quarter 2016 revenues increased sequentially 10.1 percent over third quarter 2016 revenues of $165.4 million, and 2.6 percent over the fourth quarter 2015 revenues of $177.5 million.

For the fourth quarter, U.S. federal government related customers provided approximately 57 percent of Kratos’ revenue; commercial, state and local government customers provided approximately 29 percent; and international customers provided approximately 14 percent. The company’s cash balance at the end of the fourth quarter was $69.1 million.

Net loss for the fourth quarter was $4.3 million, adjusted income per share was $0.02 and Generally Accepted Accounting Principles (GAAP) earnings per share was a loss of $0.07.

For the full year, Kratos generated revenues of $668.7 million, a 1.8 percent increase over 2015 revenues of $657.1 million, and adjusted EBITDA of $45 million, compared to $44.6 million in 2015.

Kratos is affirming its previously provided 2017 guidance for revenues of $700 to $720 million, and adjusted EBITDA of $52 to $54 million, with a similar quarterly revenue and adjusted EBITDA trajectory as experienced in 2016.