WASHINGTON (dpa-AFX) - Shares of Kratos Defense & Security Solutions Inc. (KTOS) is losing 11% on Monday's extended trading session after the company reported a fourth-quarter profit and revenues that missed Wall Street estimates and also issued a weak outlook.
Fourth-quarter net income dropped to $3.0 million or $0.03 per share from $4.7 million or $0.04 per share last year.
Adjusted earnings for the quarter were $0.09 per share for the fourth quarter.
Kratos' fourth-quarter revenues rose 12.6% to $185.1 million from $164.4 million last year. Revenues grew organically 3.6% from last year, excluding the impact of the 2019 FTT acquisition.
Analysts polled by Thomson Reuters estimated earnings of $0.10 per share on revenues of $197.34 million for the quarter.
For the first quarter, Kratos expects revenues of $160 million to $170 million. Analysts currently estimate revenues of $190.54 million.
KTOS closed Monday's trading at $19.31, up $0.94 or 4.64%, on the Nasdaq. The stock further slipped $2.21 or 11.44% in the after-hours trade.
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