Earnings release
Page 1
EX - 99.1 2 ktos202103288kexhibit991.htm EX - 99.1 KROTOS READY FOR WHAT'S NEXT ™ Press Contact : Yolanda White 858-812-7302 Direct Investor Information : 877-934-4687 investor@kratosdefense.com Exhibit 99.1 Kratos Reports First Quarter Financial Results First Quarter Revenues of $ 194.2 Million , Increased 15.0 percent over First Quarter 2020 First Quarter Unmanned Systems Segment Revenues of $ 55.9 Million , Increased 33.1 percent over First Quarter 2020 First Quarter Cash Flow from Operations of $ 22.7 Million First Quarter 2021 Book to Bill Ratio of 0.8 to 1 Last Twelve Months March 2021 Book to Bill Ratio of 1.3 to 1 SAN DIEGO , CA , May 5 , 2021 – Kratos Defense & Security Solutions , Inc. ( Nasdaq : KTOS ) , a leading National Security Solutions provider , today reported its first quarter 2021 financial results . For the first quarter of 2021 , Kratos reported Revenues of $ 194.2 million , Operating Income of $ 4.9 million , Net Income of $ 1.9 million and Adjusted EBITDA of $ 18.1 million . First Quarter 2021 Revenues of $ 194.2 million increased 15.0 percent , as compared to Revenues of $ 168.9 million in the first quarter of 2020 , reflecting organic growth in Kratos ' Unmanned Systems , Space and Satellite , C5ISR , Microwave Products , Rocket Support Systems and Turbine Technology businesses , offset partially by certain reductions , including in our Training Solutions business , primarily resulting from a previously disclosed reduction in scope of certain international training contracts . Excluding the impact of the ASC Signal , TDI and 5D acquisitions , revenue grew organically 8.9 percent in the first quarter of 2021 as compared to the first quarter of 2020. Revenue grew organically 11.6 percent in the first quarter of 2021 on a proforma basis , excluding the impact of the acquisitions and the reduction of the international training contracts . Operating Income of $ 4.9 million in the first quarter of 2021 increased from $ 4.7 million in the first quarter of 2020 , with first quarter 2021 Operating Income including increases in non - cash