Kratos reports quarterly loss

Kratos Defense & Security Solutions said this week sales in its most recent quarter declined slightly to hit $153 million.

The contractor reported a loss of $22.2 million for the quarter, a larger amount than the $16.2 million it lost in the same three-month period a year earlier.

Kratos said in its earnings announcement that it "executed a significant restructuring, facility consolidation and cost reduction" during the quarter. As part of this effort, Kratos closed its Charleston Marine Container manufacturing plant and reduced its headcount by more than 120 people.