Telos Corporation Q4 Loss Climbs

(RTTNews) - Telos Corporation (TLS) revealed Loss for its fourth quarter of -$16.311 million

The company's bottom line came in at -$16.311 million, or -$0.22 per share. This compares with -$9.330 million, or -$0.13 per share, last year.

The company's revenue for the period rose 77.4% to $46.777 million from $26.372 million last year.

Telos Corporation earnings at a glance (GAAP) :

-Earnings: -$16.311 Mln. vs. -$9.330 Mln. last year. -EPS: -$0.22 vs. -$0.13 last year. -Revenue: $46.777 Mln vs. $26.372 Mln last year.

This surge in fourth-quarter revenue was supported by a 105% growth in Security Solutions, primarily due to the ongoing expansion of large programs in Telos ID.

The company’s fourth-quarter net loss of $16.3 million reflects $1.5 million restructuring charge and $14.9 million non-cash goodwill impairment.

For the fourth quarter, excluding items, Telos posted earnings of $4.463 million, or $0.06 per share, compared with a loss of $2.827 million, or $0.04 per share, in the same period last year.

TLS was up by 16.82% at $5 per share in the pre-market trade on the Nasdaq.