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KEYW reports second-quarter loss

Hanover-based cybersecurity firm loses $2.36 million in April-to-June quarter

Baltimore Sun staff

6:37 PM EDT, July 31, 2013

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KEYW Holding Corp., a Hanover-based cybersecurity firm, reported a loss for the second quarter on Wednesday, citing acquisition-related costs.

The company announced it lost $2.36 million, or 6 cents per share, in the April-to-June quarter, compared with income of $325,000, or a penny a share, a year ago.

Revenue rose 39 percent to $78.3 million in the quarter. During the quarter, KEYW, which employs 1,124 people, received $77 million in new funding actions, it said.

Shares in KEYW slipped 17 cents each to close at $12.83 in Nasdaq trading.

Amortization associated with an acquisition reduced its results for the latest quarter by 10 cents, KEYW said in a news release.

Also Wednesday, KEYW announced the formation of Hexis Cyber Solutions Inc. and introduced the HawkEye family of products and services. The new products, which leverage systems developed for U.S. intelligence agencies, are designed to protect computer systems for commercial and government clients alike.