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Why KeyW Shares Got Demolished Today

TheMotleyFool

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Why KeyW Shares Got Demolished TodayPhoto, wide shot, wide-angle lens, Heavy machinery, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://img.midjourneyapi.xyz/temp/c15253b0-7330-4605-a666-66954eaf6715.png

Shares of KeyW (NASDAQ: KEYW) got demolished today, down by 34.3% as of 12:31 p.m. EDT, after the company reported third-quarter earnings. Both top and bottom line results came up short of expectations for the company, which supplies engineering and technology solutions to the intelligence and national security communities.

Revenue in Q3 came in at $122.4 million, shy of the $129.4 million in sales that analysts were modeling for. That translated to a GAAP net loss of $0.08 per share. Bookings to backlog totaled $273 million for the quarter, which included a $136 million, two-year deal with an intelligence community customer.

Image source: Getty Images.

Source: Fool.com