Kratos reports improved profit, lower sales

Kratos Defense & Security Solutions said today that sales in 2015 reached $657.1 million, down from $763 million the prior year.

However, the contractor's 2015 profit hit $19.8 million, an improvement from a loss of $78 million in 2014.

Kratos said that its financial results were "reduced by continued significant discretionary internally funded investments the Company is making, primarily in the unmanned systems and satellite communications areas."

The investments, the company added, "are expected to continue as the Company executes its communicated strategic plan."