Boston, MA 03/10/2014 (wallstreetpr) – KEYW Holding Corp (NASDAQ:KEYW) reported impressive results for its fourth quarter and full year for the period ending December 2013 which saw the company make impressive strides in its key sectors of cyber security and cyber superiority solutions. Revenues for the full year improved by23% coming in at $298.7 million against revenues of $243.5 million reported in 2012.
KEYW Holding Corp (NASDAQ:KEYW) made significant strides in the year having launched its Hexis Cyber Solutions, Inc. and the release of HawkEye G product in the fourth quarter. The company continues to convert its beta customers into commercial customers having built a substantial pipeline of near term customers
KEYW Holding Corp Fourth quarter results
Fourth quarter revenue came in at $68.8 million a drop of 7% compared to fourth quarter earnings in 2012, the experienced drop in revenue for the fourth quarter was as a result sequestration and government shut down. Fourth quarter EBITDA earnings came in at $7 million a drop of 10.2% against $10.4 million registered for the same quarter in 2012.
Full year saw KEYW Holding Corp (NASDAQ:KEYW) register a net loss of $10.6 million against a net income of $1 million reported in 2012. The net loss in 2013 was inclusive of a one-time litigation charge worth $4.8 million. Adjusted EBITDA for full year came in at $27.2 million.
KEYW Holding Corp (NASDAQ:KEYW) government segment generated total adjusted EBITDA earnings amounting to $38.3 million against total earnings of $32.2 million reported in 2012. KEYW’s commercial Cyber Solutions reported an EBITDA loss of $11.1 million for full year against a positive EBITDA OF $0.7 million in 2012.
KEYW Holding Corp (NASDAQ:KEYW)’s government segment generated total revenues of $11 million in the fourth quarter versus $9.7 million reported in the fourth quarter of 2012. The impressive return on the government segment was as a result of being awarded large vehicles contract.
KEYW Holding Corp (NASDAQ:KEYW) closed the week on Friday trading session going down by 1.91% to close at a low of $21.60
