ROUND ROCK, Texas (AP) _ Kratos Defense & Security Solutions Inc. (KTOS) on Wednesday reported first-quarter net income of $1.9 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Round Rock, Texas-based company said it had profit of 1 cent. Earnings, adjusted for one-time gains and costs, came to 6 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.

The military contractor posted revenue of $194.2 million in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $189.6 million.

Kratos shares have declined 10% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $24.66, an increase of 65% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KTOS at https://www.zacks.com/ap/KTOS

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