Kratos Defense & Security Solutions Inc. reported a net loss of $16.3 million on revenues of $182.5 million during the first quarter that ended March 29. Publicly traded Kratos (Nasdaq: KTOS) made its announcement on May 7.

In the same quarter one year ago, the business reported a net loss of $15.0 million on revenues of $200.1 million.

In its quarterly financial update, Kratos said that it was working with an investment banking firm to see if it should divest itself of certain businesses.

Based near University City, Kratos is the parent company for several defense contracting and security businesses around the United States.

The company said its backlog at the end of the quarter was $1.1 billion, counting funded and unfunded backlog — unchanged from the last quarter.