A year after buying Sotera Defense Solutions, KeyW's chief executive said this week that the integration of that company is now complete.
"KeyW is now the unified, focused and diversified company we have always intended it to be," Bill Weber said in a statement announcing the company's quarterly and year-end earnings. "We entered 2018 with a more competitive cost structure in place, and the ability to pursue contracts that neither company could have competitively bid on its own before the acquisition. Our business development engine continues the robust pace we began at the start of our turnaround, and the right management team is in place to take this company to the next level and beyond. Moreover, KeyW achieved its goal of generating 2017 awards of greater than one times revenue -- and in doing so, 2018 revenue exposed to recompete risk is negligible. 2018 is an execution year for KeyW, and we are looking forward to what lies ahead."
KeyW reported $127 million in revenues during the fourth quarter, up 84 percent from the previous one. "The increase was primarily attributable to contracts acquired through the acquisition of Sotera," the company said.
The Sotera purchase also helped full-year 2017 revenues, which increased 53.3 percent compared to the 2016, according to the statement.