BWX Technologies reports profit boost

BWX Technologies said sales in 2015 hit $1.4 billion, down from $1.5 billion the prior year. However, yearly profit reached $131.5 million, up from $29.4 million the prior year.

The company said its profit was boosted by improved margins in its nuclear energy segment, lower mPower spending and reduced corporate costs. BWX announced in 2014 it would restructure its mPower small modular reactor program "to reduce spending and focus on technology development," according to a company SEC filing.

In 2015, BWX said it incurred $16 million in costs related to this restructuring.