The KEYW Holding Corp 8-K Report on Audit of

Exhibit 99.2

Unaudited Consolidated Financial Statements of Sycamore.US, Inc. and Sycamore Services, Inc. as of and for the nine months ended September 25, 2009

The accompanying consolidated financial statements for Sycamore US as of and for the nine months ended September 25, 2009 are unaudited.

We prepared these interim consolidated condensed financial statements in conformity with U.S. generally accepted accounting principles, consistent in all material respects with those applied in Sycamore’s audited financial statements for the year ended December 31, 2009.

The interim financial information is unaudited, but reflects all normal adjustments that are, in our opinion, necessary to provide a fair statement of results for the interim periods presented. This interim information should be read in conjunction with the consolidated financial statements for the year ended December 31, 2009, contained elsewhere in this filing.

Sycamore Balance Sheet
September 25, 2009
(unaudited)
(in thousands)
Cash	$	678
Accounts receivable		3,062
Prepaids		360
Current assets		4,100
Property, plant, & equipment		167
Other assets		14
Total assets	$	4,281
Accounts payable		220
Debt		231
Accrued expense		133
Accrued compensation		912
Other current liabilities		273
Current liabilities		1,769
Total liabilities		1,769
Common stock		840
Additional paid-in capital		101
Accumulated deficit		1,571
Total equity		2,512
Total liabilities and equity	$	4,281

Sycamore
Statement of Operations
(unaudited)
(in thousands)
	Nine Months Ended September 25, 2009
Revenue
Services		14,490
Products		-
Total		14,490
Cost of Revenues
Services		10,268
Products		-
Total		10,268
Gross profit
Services		4,222
Products		-
Total		4,222
Operating expenses		3,565
Intangible Amortization		-
Operating income		657
Non-operating expense(income)		(2	)
Income before taxes		659
Tax expense		-
Net income		659

Sycamore

Statement of Cash Flows

	Nine Months Ended
	September 25,
	2009
	(unaudited)
Net income	$	659
Adjustments to reconcile net loss to net
Cash used in operating activities
Depreciation/Amortization		74
Decrease (increase) in balance sheet items
Receivables		156
Prepaid expenses		224
Accounts payable		(306	)
Accrued expenses		335
Other balance sheet changes		(6	)
Net cash provided by operations		1,136
Cash flows from investing activities
Net cash used in investing activities		-
Cash flows from financing activities
Cash distributions to shareholders		(427	)
Repayment of debt		(91	)
Net cash used in financing activities		(518	)
Net increase in cash and cash equivalents		618
Cash and cash equivalents at beginning of period		60
Cash and cash equivalents at end of period	$	678
Supplemental disclosure of cash flow information:
Cash paid for interest	$	1
Cash paid for taxes	$	-