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KEYW Holding (NASDAQ:KEYW), a cybersecurity and cyber superiority solutions to defense, intelligence and national security agencies, priced its IPO on 30th September, 2010 at lower end of its expected range of $10 per share, and generated a first-day retun of 13.8%.

Business Overview (from prospectus)

We provide mission-critical cybersecurity and cyber superiority solutions to defense, intelligence and national security agencies. Our solutions, services and products support the collection, processing, analysis, and use of intelligence data and information in the domain of cyberspace. Cyberspace is the global environment of data and information that encompasses all parts of the electromagnetic spectrum in which intelligence data may exist or transit.

Offering: 9.1 million shares at $10 per share. Net proceeds of approximately $30 million will be used for debt repayment.

Lead Underwriters: Suntrust Robinson Humphrey

Financial Highlights:

Revenue for the six months ended June 30, 2010 increased by $33 million to $49.6 million as compared to the six months ended June 30, 2009...Cost of revenue increased by $23 million to $35 million with gross margin unchanged at 29% for the six months ended June 30, 2010 as compared to six months ended June 30, 2009...SG&A expensed increased by $8 million to $11 million for the six months ended June 30, 2010 as compared to six months ended June 30, 2009...Net income for the six months ended June 30, 2010 increased to $5.3 million from a loss of $0.7 million in the same period prior year...

Competitors

In our market, our competitors include both large competitors that offer a broad range of services and capabilities and smaller boutique organizations that are highly focused on particular capabilities, solutions, and customers. Our larger competitors include divisions of large defense contractors such as Lockheed Martin Corporation (NYSE:LMT), The Boeing Company (NYSE:BA) and Northrop Grumman Corporation (NYSE:NOC). We also face competition from a number of large, well-established government contractors such as Science Applications International Corporation, CACI (NYSE:CACI) and others. The smaller competitors are gene4rally privately held corporations with strong capabilities in delivering specific elements of a solution for a narrow range of customers.

Additional Resources:

Source: KEYW Holding Prices IPO at the Low End of Range