$KTOS
KRATOS DEFENSE & SECURITY SOLUTIONS, INC.

2011 Q4 Form 10-Q Financial Statement

#000110465911061072 Filed on November 04, 2011

View on sec.gov

Income Statement

Concept 2011 Q4 2010 Q3
Revenue $213.4M $119.9M
YoY Change 76.66% 39.26%
Cost Of Revenue $150.8M $95.50M
YoY Change 57.08% 39.62%
Gross Profit $59.40M $24.40M
YoY Change 139.52% 37.85%
Gross Profit Margin 27.84% 20.35%
Selling, General & Admin $30.60M $13.60M
YoY Change 135.38% 15.25%
% of Gross Profit 51.52% 55.74%
Research & Development $3.500M $500.0K
YoY Change 483.33% 25.0%
% of Gross Profit 5.89% 2.05%
Depreciation & Amortization $16.60M $3.900M
YoY Change 295.24% 95.0%
% of Gross Profit 27.95% 15.98%
Operating Expenses $47.60M $15.60M
YoY Change 186.75% 18.18%
Operating Profit $9.700M $8.800M
YoY Change 18.29% 95.56%
Interest Expense -$16.30M -$6.400M
YoY Change 150.77% 190.91%
% of Operating Profit -168.04% -72.73%
Other Income/Expense, Net $0.00 -$6.200M
YoY Change -100.0%
Pretax Income -$6.900M $2.200M
YoY Change -1825.0% -4.35%
Income Tax $600.0K -$1.100M
% Of Pretax Income -50.0%
Net Earnings -$8.600M $3.200M
YoY Change -2250.0% 18.52%
Net Earnings / Revenue -4.03% 2.67%
Basic Earnings Per Share -$0.25 $0.20
Diluted Earnings Per Share -$0.25 $0.19
COMMON SHARES
Basic Shares Outstanding 34.40M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2011 Q4 2010 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $69.60M $51.30M
YoY Change 544.44% 370.64%
Cash & Equivalents $69.60M $51.30M
Short-Term Investments
Other Short-Term Assets $3.100M $23.70M
YoY Change 14.81% 211.84%
Inventory $79.90M $25.70M
Prepaid Expenses $12.70M
Receivables $245.3M $92.60M
Other Receivables $0.00 $2.300M
Total Short-Term Assets $421.0M $195.6M
YoY Change 129.3% 95.8%
LONG-TERM ASSETS
Property, Plant & Equipment $72.50M $24.20M
YoY Change 155.28% 404.17%
Goodwill $571.6M
YoY Change 152.03%
Intangibles $124.6M
YoY Change 39.84%
Long-Term Investments
YoY Change
Other Assets $23.90M $7.900M
YoY Change 206.41% 154.84%
Total Long-Term Assets $795.0M $289.3M
YoY Change 125.79% 98.29%
TOTAL ASSETS
Total Short-Term Assets $421.0M $195.6M
Total Long-Term Assets $795.0M $289.3M
Total Assets $1.216B $484.9M
YoY Change 126.99% 97.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $48.80M $30.90M
YoY Change 7.02% 50.0%
Accrued Expenses $50.70M $41.10M
YoY Change 136.92% 67.76%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.000M $0.00
YoY Change 66.67% -100.0%
Total Short-Term Liabilities $213.8M $103.1M
YoY Change 81.03% 54.11%
LONG-TERM LIABILITIES
Long-Term Debt $630.8M $225.0M
YoY Change 180.36% 348.21%
Other Long-Term Liabilities $32.30M $14.50M
YoY Change 275.58% 195.92%
Total Long-Term Liabilities $663.1M $239.5M
YoY Change 183.86% 334.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $213.8M $103.1M
Total Long-Term Liabilities $663.1M $239.5M
Total Liabilities $903.4M $342.6M
YoY Change 146.97% 180.82%
SHAREHOLDERS EQUITY
Retained Earnings -$407.8M
YoY Change 6.31%
Common Stock $720.6M
YoY Change 30.19%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $312.6M $142.3M
YoY Change
Total Liabilities & Shareholders Equity $1.216B $484.9M
YoY Change 126.99% 97.27%

Cashflow Statement

Concept 2011 Q4 2010 Q3
OPERATING ACTIVITIES
Net Income -$8.600M $3.200M
YoY Change -2250.0% 18.52%
Depreciation, Depletion And Amortization $16.60M $3.900M
YoY Change 295.24% 95.0%
Cash From Operating Activities -$5.100M $18.30M
YoY Change -234.21% 101.1%
INVESTING ACTIVITIES
Capital Expenditures -$2.200M
YoY Change -4.35%
Acquisitions
YoY Change
Other Investing Activities -$17.60M -$10.10M
YoY Change -72.15% 621.43%
Cash From Investing Activities -$19.80M -$10.10M
YoY Change -69.77% 621.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -14.60M -300.0K
YoY Change -168.87% -62.5%
NET CHANGE
Cash From Operating Activities -5.100M 18.30M
Cash From Investing Activities -19.80M -10.10M
Cash From Financing Activities -14.60M -300.0K
Net Change In Cash -39.50M 7.900M
YoY Change -2.47% 14.49%
FREE CASH FLOW
Cash From Operating Activities -$5.100M $18.30M
Capital Expenditures -$2.200M
Free Cash Flow -$2.900M
YoY Change -147.54%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2010Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
535500000 USD
CY2010Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2010Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2010Q4 us-gaap Additional Paid In Capital Common Stock
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553500000 USD
CY2010Q4 us-gaap Liabilities
Liabilities
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CY2010Q4 us-gaap Other Liabilities Noncurrent
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CY2010Q4 us-gaap Liabilities Current
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CY2010Q4 us-gaap Other Liabilities Current
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CY2010Q4 us-gaap Billings In Excess Of Cost
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17200000 USD
dei Document Fiscal Year Focus
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2011
dei Document Fiscal Period Focus
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Q3
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Current Fiscal Year End Date
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--12-25
dei Amendment Flag
AmendmentFlag
false
dei Entity Filer Category
EntityFilerCategory
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CY2011Q3 us-gaap Preferred Stock Shares Authorized
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CY2011Q4 dei Entity Common Stock Shares Outstanding
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CY2010Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
21700000 USD
CY2010Q4 us-gaap Accrued Liabilities Current
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21400000 USD
CY2010Q4 us-gaap Assets
Assets
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CY2010Q4 us-gaap Intangible Assets Net Excluding Goodwill
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CY2010Q4 us-gaap Goodwill
Goodwill
226200000 USD
CY2010Q4 us-gaap Property Plant And Equipment Net
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CY2010Q4 us-gaap Assets Current
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CY2010Q4 us-gaap Other Assets Current
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CY2010Q4 us-gaap Prepaid Expense Current
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CY2010Q4 us-gaap Inventory Net
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CY2010Q4 us-gaap Accounts Receivable Net Current
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CY2010Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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CY2010Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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10800000 USD
CY2010Q4 us-gaap Common Stock Shares Outstanding
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CY2010Q4 us-gaap Common Stock Shares Issued
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CY2010Q4 us-gaap Common Stock Shares Authorized
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CY2010Q4 us-gaap Common Stock Par Or Stated Value Per Share
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CY2010Q4 ktos Preferred Stock Total Liquidation Preference
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5000000 USD
CY2010Q4 us-gaap Preferred Stock Shares Outstanding
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CY2010Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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CY2011Q3 us-gaap Common Stock Shares Authorized
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CY2011Q3 us-gaap Common Stock Par Or Stated Value Per Share
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CY2011Q3 us-gaap Preferred Stock Shares Outstanding
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dei Document Period End Date
DocumentPeriodEndDate
2011-09-25
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001069258
dei Entity Registrant Name
EntityRegistrantName
KRATOS DEFENSE & SECURITY SOLUTIONS, INC.
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
1500000 USD
us-gaap Other Nonoperating Income Expense
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-15000000 USD
us-gaap Gross Profit
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59500000 USD
us-gaap Cost Of Revenue
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us-gaap Revenues
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CY2010Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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2200000 USD
CY2010Q3 us-gaap Other Nonoperating Income Expense
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-6200000 USD
CY2010Q3 us-gaap Gross Profit
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24400000 USD
CY2010Q3 us-gaap Cost Of Revenue
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95500000 USD
CY2010Q3 us-gaap Revenues
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us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Basic
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CY2010Q3 us-gaap Earnings Per Share Diluted
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
24700000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-15500000 USD

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