Stock Alert: Kratos Stock Sinks 14% On Q4 Results, Guidance

(RTTNews) - Shares of Kratos Defense & Security Solutions Inc. (KTOS) are currently losing 14% on Tuesday morning session after the defense company reported fourth-quarter results that fell short of Wall Street expectations. The company also provided first quarter revenue outlook, below the consensus estimates.

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 were reported at $0.09 per share. Kratos' revenues rose 12.6% to $185.1 million from $164.4 million last year. 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 estimate revenues of $190.54 million. KTOS is currently trading at $16.68, down $2.63 or 13.62%, on the Nasdaq.