What happened Shares of KeyW (NASDAQ: KEYW) got demolished today, down by 34.3% as of 12:31 p.m. EDT, after the company reported third-quarter earnings. Both top and bottom line results came up short of expectations for the company, which supplies engineering and technology solutions to the intelligence and national security communities. So what Revenue in Q3 came in at $122.4 million, shy of the $129.4 million in sales that analysts were modeling for. That translated to a GAAP net loss of $0.08 per share. Bookings to backlog totaled $273 million for the quarter, which included a $136 million, two-year deal with an intelligence community customer. Image source: Getty Images. KeyW paid down $11.7 million of debt during the quarter, and closed it with $17.3 million of cash and equivalents. The company is in compliance with all relevant debt covenants. Now what "KeyW's third quarter produced solid bookings, and our pipeline remains robust; however, our financial results for the third quarter of 2017 fell short of expectations and that does not meet the standard I expect here at KeyW. Our third quarter shortfall was primarily due to product and service solutions awards that moved out to the fourth quarter of 2017 as well as 2018," said CEO Bill Weber. The national security solutions company reduced its guidance for 2017. Revenue for the year is now expected to fall in a range of $435 million to $445 million, down from a prior range of $455 million to $485 million. Adjusted EBITDA margin for 2017 should be 8% to 9%, down from a prior forecast of 10% to 11%. 10 stocks we like better than KEYW HoldingWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the 10 best stocks for investors to buy right now... and KEYW Holding wasn't one of them! That's right -- they think these 10 stocks are even better buys. Click here to learn about these picks! *Stock Advisor returns as of October 9, 2017Evan Niu, CFA has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.