Wired News – Kratos Secures Unmanned Aerial Target Drone Systems Contract
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LONDON, UK / ACCESSWIRE / May 29, 2018 / If you want access to our free research report on Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) ("Kratos"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=KTOS as the Company's latest news hit the wire. On May 24, 2018, the Company, which is a leading National Security Solutions provider that develops transformative, affordable technology for the Department of Defense and commercial customers, declared that its Kratos Defense & Rocket Support Services division (DRSS) has been awarded a Multiple Award Indefinite Delivery Indefinite Quantity (IDIQ) contract for the Aerial Target Systems 2 (ATS-2). Register today and get access to over 1,000 Free Research Reports by joining our site below:
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DRSS, A Leader in Unmanned Aerial Systems
DRSS has emerged as a leader in the aerial systems and support industry. It provides to its clients superior ballistic missile defense targets, hypersonic systems, and high-power directed energy systems.
Details about the Aerial Target Systems 2 Contract
The ATS-2 contract is a competitive prime contract that will cover research, development, test, and evaluation (RDT&E), commercial-off-the-shelf (COTS), and non-commercial materials, technical flight, engineering field support, logistical support, and technical support for the unmanned aerial target drone system programs managed by the US Army's Target Management Office (TMO).
The TMO is a division under the Department of the Army's Program Executive Office for Simulation, Training, and Instrumentation (PEO STRI), and Project Manager for Instrumentation, Targets, and Threat Simulators (PM ITTS).
The contract comes as a follow-up contract after the Company's Aerial Target Systems IDIQ contract, wherein Kratos provides the world's highest performance unmanned aerial target drone systems to the US Army.
Kratos intends to execute work on the ATS-2 contract at secure Kratos' facilities and government locations.
Financial Consideration
The ATS-2 contract is a combined firm-fixed-price, cost-plus-fixed-fee delivery order contract. It has a ceiling price of $93.30 million, with a 5-year performance period.
A Significant Milestone for Kratos
Dave Carter, President of the Kratos DRSS Division, believes that this contract is a key milestone in the Company's commitment towards providing superior aerial targets, technical, logistic, and engineering support to the TMO and warfighter. Besides, Carter also expressed his pride on Kratos being chosen for providing high-technology solutions and RDT&E support to the US Army in this capacity.
Moreover, Eric DeMarco, President and Chief Executive Officer (CEO) of Kratos, shared that the ATS-2 contract validates Kratos' industry leading position in the rapid development, demonstration, and fielding of high-performance, technologically-advanced systems at an affordable cost. Kratos' strategic investment over the past couple of years has enabled it to provide the right products at an affordable price point and address its customers' varied requirements.
Stock Performance Snapshot
May 25, 2018 - At Friday's closing bell, Kratos Defense & Security Solutions' stock was marginally down 0.27%, ending the trading session at $11.07.
Volume traded for the day: 421.24 thousand shares.
Stock performance in the last month – up 0.73%; previous six-month period – up 9.60%; past twelve-month period – up 0.18%; and year-to-date - up 4.53%
After last Friday's close, Kratos Defense & Security Solutions' market cap was at $1.15 billion.
The stock is part of the Services sector, categorized under the Security & Protection Services industry. This sector was up 0.1% at the end of the session.
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