Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 27, 2020

Quarterly Financial Information Disclosure [Abstract]

The following financial information reflects all normal and recurring adjustments that are, in the opinion of management, necessary for a fair statement of the results of the interim periods.

Summarized quarterly data for the years ended December 27, 2020 and December 29, 2019, is as follows (in millions, except per share data):


	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Fiscal year 2020
Revenues	$	168.9	$	170.4	$	202.0	$	206.4
Gross profit	45.8		46.0		57.1		54.3
Operating income	4.7		2.9		12.7		9.0
Provision (benefit) for income taxes	(1.4)		(1.8)		5.0		(75.3)
Income (loss) from continuing operations	0.2		(0.6)		2.6		78.1
Loss from discontinued operations	(0.4)		(0.2)		(0.2)		(0.1)
Net income (loss)	$	(0.2)	$	(0.8)	$	2.4	$	78.0
Less: Net loss attributable to noncontrolling interest	—		(0.1)		—		(0.1)
Net income (loss) attributable to Kratos	(0.2)		(0.7)		2.4		78.1
Basic income (loss) per common share attributable to Kratos:
Income (loss) from continuing operations	$	—	$	(0.01)	$	0.02	$	0.63
Income from discontinued operations	$	—	$	—	$	—	$	—
Net income (loss) per common share	$	—	$	(0.01)	$	0.02	$	0.63
Diluted income (loss) per common share attributable to Kratos:
Income (loss) from continuing operations	$	—	$	(0.01)	$	0.02	$	0.62
Income from discontinued operations	$	—	$	—	$	—	$	—
Net income (loss) per common share	$	—	$	(0.01)	$	0.02	$	0.62

Provision (benefit) for income taxes for the fourth quarter of 2020 includes a non-cash benefit of $80.1 million related to the reversal of a significant portion of the Company’s valuation allowance on its U.S. deferred tax assets.


	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Fiscal year 2019
Revenues	$	160.4	$	187.9	$	184.1	$	185.1
Gross profit	44.9		48.1		48.6		48.4
Operating income	8.2		9.0		11.5		9.3
Provision (benefit) for income taxes	(1.5)		2.5		2.8		1.0
Income from continuing operations	3.7		1.3		2.6		3.3
Income (loss) from discontinued operations	(0.6)		3.0		—		(0.7)
Net income	$	3.1	$	4.3	$	2.6	$	2.6
Less: Net income (loss) attributable to noncontrolling interest	—		0.4		0.1		(0.4)
Net income attributable to Kratos	3.1		3.9		2.5		3.0
Basic income (loss) per common share attributable to Kratos:
Income from continuing operations	$	0.04	$	0.01	$	0.02	$	0.03
Income (loss) from discontinued operations	$	(0.01)	$	0.03	$	—	$	—
Net income per common share	$	0.03	$	0.04	$	0.02	$	0.03
Diluted income per common share attributable to Kratos:
Income from continuing operations	$	0.03	$	0.01	$	0.02	$	0.03
Income from discontinued operations	$	—	$	0.03	$	—	$	—
Net income per common share	$	0.03	$	0.04	$	0.02	$	0.03