V2X Reverses To Q2 Loss While Sales Improve; Ups Annual Revenue Outlook

(RTTNews) - V2X, Inc. (VVX), a provider of critical mission solutions to defense customers, Tuesday reported net loss of $6.54 million or $0.21 per share for the second quarter, compared with net income of $1.8 million or $0.06 per share in the same quarter a year ago, primarily on higher expenses. The company also raised its full-year revenue outlook while reiterating earnings guidance.

Excluding one-time items, V2X posted earnings of $26.26 million or $0.83 per share.

Operating income declined to $27.43 million from $34.27 million in the previous year.

Revenue for the quarter increased to $1.072 billion from $977.85 million last year.

For the full year, the company now expects revenue in the range of $4.175 billion - $4.275 billion, up from the previous guidance of $4.1 billion - $4.2 billion.

The company continues to expect adjusted EPS in the range of $3.85-$4.20 for the year.