KeyW Holding Corp., a Hanover-based technology and cybersecurity firm that contracts with U.S. intelligence agencies, reported a profit increase in the third quarter that matched Wall Street analysts' expectations.
The company, which delayed its earning release this week because the Nasdaq market was closed due to Superstorm Sandy, reported a $341,000 profit, or one cent per diluted share, for the quarter ending Sept. 30. Wall Street analysts had expected a one cent-per-share profit.
For the similar quarter last year, the company had a $105,000 profit. The company's revenues climbed to $57.4 million, compared with $54 million in the year-earlier quarter.
In an earnings release, KeyW said the revenue increase came mainly from Flight Landata, a company it acquired last year that specializes in aerial remote sensor technology for manned and unmanned vehicles.
During the quarter, KeyW acquired two other companies — Poole & Associates and SenSage — and completed a $100 million secondary offering to raise additional capital, part of which was used to fund acquisitions.
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