Kratos Defense and Security Solutions Inc (NASDAQ:KTOS) reported that its Unmanned Systems Division recently received a production award of around $23 million for a latest high performance, jet supported unmanned aerial drone mechanism which has been under advancement. The majority of work to be done under this contract award is anticipated to be executed in approximate next 12 months.
Kratos Defense and Security reported that this contract award is the first year’s production, with several years of additional yearly production anticipated thereafter. USD marks as an industry pioneer in the rapid design, fielding and development of affordable top performance jet supported unmanned aerial drone systems for tactical as well as threat representation target uses. Work under this contract will be done at secure company’s facilities and at client locations. Following customer linked, competitive and other factors, no additional information will be given linked to this contract award or program.
Steve Fendley, the President of Unmanned Systems Division at Kratos, expressed that all of company’s USD is excited and proud to have recorded this initial production objective with this extremely vital client customer. USD is the known leader in best performance jet supported unmanned aerial drone mechanisms, and this aircraft is another main edge of technology instance.
Eric DeMarco, the CEO and President of Kratos, expressed that since 2012, when they completed their last key acquisition at company, they have successfully integrated bought operations into a technology, product and intellectual property based firm, while also investing in main focus sections including superior unmanned aerial drone aircraft.
They are now closing investments on several new UAS platforms and moving into production, which they project will be major contributors to future jumps in profit, cash flow, revenue and overall company’s shareholder value. They are assured that Kratos’ ability to fast advance, showcase and field know-how rich, affordable systems is a shown key differentiator for their firm.