January 08, 2018-
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, announced today that its Unmanned Systems Division (USD) recently received an approximate $23 million production award for a new high performance, jet powered unmanned aerial drone system which has been under development. The majority of work to be performed under this new contract award is expected to be executed over the approximate next 12 months. This contract award is the initial year's production, with multiple years of additional annual production expected thereafter. USD is an industry leader in the rapid design, development and fielding of affordable high performance jet powered unmanned aerial drone systems for tactical and threat representation target purposes. Work under this program will be performed at secure Kratos production facilities and at customer locations. Due to customer related, competitive and other considerations, no additional information will be provided related to this program or contract award.
Steve Fendley, President of Kratos Unmanned Systems Division, said, "All of Kratos USD is proud and excited to have achieved this initial production milestone with this extremely important customer. USD is the recognized leader in high performance jet powered unmanned aerial drone systems, and this aircraft is another leading edge of technology example."
Eric DeMarco, President and CEO of Kratos, said, "Since 2012, when we completed our last major acquisition at Kratos, we have successfully integrated acquired businesses into a technology, intellectual property, and product based Company, while also investing in core focus areas including high performance unmanned aerial drone aircraft. We are now completing investments on a number of these new UAS platforms and entering production, which we expect will be key contributors to future increases in revenue, profit, cash flow and overall Kratos shareholder value. We are confident that Kratos' ability to rapidly develop, demonstrate and field technology rich, affordable systems is a demonstrated key differentiator for our Company."
Source : Kratos Defense & Security Solutions
Publish date: July 2017 - Pages: 217