Karman Space & Defense said today fourth-quarter revenue was $134.5 million, up 47% year-over-year and above analysts’  estimates, while net income for the period shot up 358% to $7.7 million (NYSE: KRMN).
“The generational increase in demand for the missile and munitions programs that Karman supports, combined with the U.S. government’s efforts to establish multi-year prime procurement contracts and the continued expansion of the space economy give us high confidence in the sustainability of demand and our high-growth trajectory,” newly named CEO Jon Rambeau of the Huntington Beach-based company said in a statement.
The closely watched company’s shares rose less than 1 percent to $99.69 each for a market cap of $13.2 billion in after-hours trading.
For further details, see the March 23 edition of the Business Journal.
