HANOVER, Md., Jan. 26, 2017 (GLOBE NEWSWIRE) — The KeyW Holding Corporation (NASDAQ:KEYW) today appear accustomed preliminary, unaudited estimated after-effects of operations for the budgetary year concluded December 31, 2016. KeyW expects acquirement from continuing operations for 2016 to be in the ambit of $290 actor to $293 million, net assets from continuing operations in the ambit of $3 actor to $5 actor and adapted EBITDA from continuing operations in the ambit of $31 actor to $33 million. A adaptation of adapted EBITDA from continuing operations to net assets from continuing operations is provided below.
These accustomed preliminary, unaudited estimated after-effects of operations are based on management’s antecedent assay of operations for the budgetary year concluded December 31, 2016, and abide accountable to achievement of the Company’s accustomed anniversary closing and assay procedures and final adjustments and added developments that may appear amid now and the time the banking after-effects for the budgetary year concluded December 31, 2016 are finalized. It is accessible that the final appear after-effects for 2016 may not be aural the ranges currently estimated, and may adapt materially.
KeyW additionally appear that it expects the adapted EBITDA from continuing operations allowance for 2017 to be in the ambit of 10% to 12%.
Adjusted EBITDA from continuing operations is a banking admeasurement that is not accustomed beneath accounting attempt about accustomed in the United States of America, or GAAP, and is not affected in accordance with GAAP. The basic adapted EBITDA from continuing operations table beneath provides a adaptation of this non-GAAP banking admeasurement to net assets from continuing operations, the best anon commensurable banking admeasurement affected and presented in accordance with GAAP. Adapted EBITDA from continuing operations should not be advised as an another to net assets from continuing operations, operating assets from continuing operations or any added admeasurement of operating performance, or to banknote flows from operating activities as a admeasurement of liquidity, affected and presented in accordance with GAAP. Our adapted EBITDA from continuing operations may not be commensurable to analogously blue-blooded measures of added companies because added companies may not account adapted EBITDA from continuing operations or analogously blue-blooded measures in the aforementioned address as we do. We adapt adapted EBITDA from continuing operations to annihilate the appulse of items that we do not accede apocalyptic of our amount operating performance. We animate you to appraise these adjustments and the affidavit we accede them appropriate.
We accept adapted EBITDA from continuing operations is advantageous to investors in evaluating our operating achievement for the afterward reasons:
Our lath of admiral and administration use adapted EBITDA from continuing operations:
Although adapted EBITDA from continuing operations is frequently acclimated by investors and balance analysts in their evaluations of companies, adapted EBITDA from continuing operations has limitations as an analytic tool, and you should not accede it in a or as a acting for assay of our after-effects of operations as appear beneath GAAP. Some of these limitations are:
Please accredit to the table beneath for a adaptation of basic GAAP net assets from continuing operations to basic adapted EBITDA from continuing operations.
Preliminary Adapted EBITDA from Continuing Operations Reconciliation
(1) Added adjustments accommodate a $3.0 actor accretion on the denial of our systems engineering and abstruse abetment (SETA) business, net of transaction costs in 2016.
The Company will address after-effects of operations for the fourth budgetary division and budgetary year concluded December 31, 2016 in its consistently appointed balance absolution and appointment alarm afterwards the bazaar closes on March 8, 2017. The Company will host a appointment alarm and alive webcast for analysts and investors at 5:00 PM Eastern time on that day. At that time, administration will assay the Company’s fourth budgetary division and budgetary year concluded December 31, 2016 after-effects of operations, followed by a question-and-answer affair to added altercate the results.
Interested parties will be able to affix to our webcast via the Investor Relations folio at our website, http://investors.keywcorp.com, on March 8, 2017. We animate bodies to annals for an email active about the Webcast through the Contest and Presentations tab, additionally begin on the Investor Relations folio of our website. Interested parties may additionally accept to the appointment alarm by calling 1-877-853-5645. The International Dial-In admission cardinal will be 1-408-940-3868. The appointment ID for the accident is 56194282.
An annal of the webcast will be accessible on our webpage afterward the call. In addition, a podcast of our appointment alarm will be accessible for download from our Investor Relations folio of our website at about the aforementioned time as the webcast replay.
The Company ahead filed a shelf allotment account on Form S-3 that was declared able by the U.S. Balance and Exchange Commission (“SEC”). A basic announcement supplement and the accompanying announcement accompanying to the Company’s alms of accepted banal will be filed with the SEC and will be accessible on the SEC’s website amid at www.sec.gov. Copies of the basic announcement supplement and the accompanying announcement may additionally be acquired from (i) RBC Basic Markets, LLC, Attention: Equity Syndicate, 200 Vesey Street, 8th floor, New York, NY 10281, Telephone: 877-822-4089, Email: [email protected], or (ii) Barclays Basic Inc., c/o Broadridge Banking Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Telephone: 888-603-5847, Email: [email protected]
KeyW is a absolute solutions provider for the Intelligence, Cyber and Counterterrorism Communities’ toughest challenges. We abutment the collection, processing, assay and broadcasting of advice beyond the abounding spectrum of their missions. We apply and claiming added than 1,000 accomplished professionals in the industry with analytic such circuitous problems as preventing cyber threats, transforming abstracts into intelligence and active all-around terrorism.
Forward-Looking Statements: Statements fabricated in this columnist absolution that are not absolute facts aggregate advanced statements aural the acceptation of the Private Balance Litigation Reform Act of 1995. Such statements accommodate but are not bound to: statements about our basic 2016 and 2017 estimated after-effects and ranges, approaching expectations, affairs and prospects; statements regarding our strategies, plans, and operations; and added statements absolute the words “estimates,” “believes,” “anticipates,” “plans,” “expects,” “will,” “potential,” “opportunities,” and agnate expressions. Our absolute results, achievement or achievements or industry after-effects may adapt materially from those bidding or adumbrated in these advanced statements. These statements absorb abundant risks and uncertainties, including but not bound to, those accident factors set alternating in our Anniversary Address on Form 10-K for the year concluded December 31, 2015 filed with the SEC on March 15, 2016 and our consecutive Quarterly Reports on Form 10-Q for the budgetary abode concluded March 31, 2016, June 30, 2016 and September 30, 2016 filed with the SEC on May 10, 2016, August 9, 2016 and November 2, 2016, respectively, as appropriate beneath the Balance Act of 1934, as amended, and added filings that we accomplish with the SEC from time to time and, with account to our basic after-effects for the year concluded December 31, 2016, the actuality that such after-effects are unaudited and changes in such after-effects may aftereffect from the achievement of our year end closing procedures and the analysis of our after-effects by our auditors. Due to such uncertainties and risks, readers are cautioned not to abode disproportionate assurance on such advanced statements. KeyW is beneath no obligation to (and especially disclaims any such obligation to) amend or adapt its advanced statements whether as a aftereffect of new information, approaching contest or otherwise, unless appropriate by law.
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