KEYW Corp.’s losses widened in the third quarter as the Hanover cybersecurity company keeps pushing for its business selling to the private sector to take off.
Its revenue grew by about 3 percent in the third quarter to $81.1 million, while its losses more than doubled to $8 million from $3 million in the same period last year. Its main federal contracting business was responsible for the increased sales, but that division was a third less profitable than in the same quarter of last year.
The results translated to a loss of 20 cents per share, compared with 8 cents a year earlier. Wall Street analysts had predicted KEYW would lose 11 cents per share in the quarter.
KEYW shares fell more than 15 percent in after-hours trading, to about $6.24. The stock’s lowest value over the past year is $5.60. For the full article click here
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