KEYW Holding Corp. (NASDAQ:KEYW) announced the contract with a government customer has been increased $114 million to a total of $25 million. The contract is to provide systems integration and having the ceiling raised is a huge vote of confidence for KEYW and its services. The company is designing and implementing cloud infrastructure and the expansion validates their ability to come through with management, engineering and software development for the project that is unmatched. The program also increases the government’s capabilities and helped reduce costs.
KEYW Holding Corp. (NASDAQ:KEYW) is a provider of solutions for cyber security and intelligence for the US government. They combine services and expertise with various technology and hardware, including proprietary technology. To fulfill their customer’s needs. They offer a strong line of products and services that make government networks and data safer. Government spending has slowed over the past year but with the new focus on cyber-security that should pick up.
They recently released earnings and showed revenue for fiscal 2014 at $290.5 million. This was slight decrease from 2013 where they posted revenue of $298.7 million. Losses for 2014 amounted to $12.9 million which was also a small increase over 2013. The loss included a one-time charge of $4.8 million to settle an after-tax lawsuit. For the fourth quarter revenues were $73.5 million and that equated to a loss per-share of 13 cents. 2014 got off to a slow start but KEYW Holding Corp. (NASDAQ:KEYW) picked up as the year went on. The company has its largest backlog of proposals that has been submitted and is pending approval and that should equate to strong revenue momentum in 2015. In 2014 they experienced sequential improvements in the balance sheet but could not fully overcome the slow start.
The stock was hurt by the earnings report and it needs to find its level to start some sideways base-building action. Technically it is damaged and until it does some repairs it will remain soft.