ROUND ROCK, Texas (AP) — ROUND ROCK, Texas (AP) — Kratos Defense & Security Solutions Inc. (KTOS) on Wednesday reported first-quarter net income of $11.9 million.
The Round Rock, Texas-based company said it had net income of 7 cents per share. Earnings, adjusted for one-time gains and costs, came to 16 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.
The military contractor posted revenue of $371 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $344.5 million.
For the current quarter ending in June, Kratos said it expects revenue in the range of $400 million to $410 million.
The company expects full-year revenue in the range of $1.7 billion to $1.76 billion.
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