Kratos reports increased sales in quarter

Kratos Defense & Security Solutions said this week sales in its most recent quarter totaled $185 million, up almost 13% from the same three-month period a year earlier.

Sales were boosted by the company's 2019 acquisition of Florida Turbine Technologies; Kratos said sales grew almost 4% when excluding the acquisition.

Kratos reported quarterly profit of $3 million, down 36% from the prior year.

The company reported 2019 sales of $717 million, up about 16% from 2018. Kratos said sales were up almost 8% when excluding the FTT acquisition.

In 2019, Kratos recorded profit of $12.5 million, up from a loss of $3.5 million in 2018.