New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 17, 2013
08:57 EDTKTOSKratos' SAT awarded multi-million dollar contract from large satellite operator
Kratos Defense & Security Solutions announced that its SAT Corporation subsidiary has received a multi-million dollar order to provide satellite interference detection and quality of service monitoring. The contract, awarded by one of the industry's largest companies, includes SAT's satellite monitoring product, Monics.
News For KTOS From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
August 28, 2015
07:05 EDTKTOSKratos Defense receives $49M contract award from U.S. Government Agency
Subscribe for More Information
August 24, 2015
07:03 EDTKTOSKratos Defense completes sale of U.S., U.K. operations of EP division
Kratos Defense & Security Solutions has completed the previously announced sale of the U.S. and U.K. operations of its Electronic Products Division to Ultra Electronics Holdings plc for $260 million in cash plus up to $5 million for taxes incurred as part of the transaction, less a $2.0 million escrow to satisfy any purchase price adjustments and a working capital adjustment currently estimated as a net reduction of $7.6 million. The Company expects to pay $13 million in transaction-related costs and approximately $10 million in federal and state income taxes, resulting in net cash proceeds to the Company of approximately $232.4 million. Kratos currently intends to use proceeds from the Transaction to initiate a repurchase process for up to $175 million of its 7 Percent Senior Secured Notes (the "Notes") at par. In addition, Kratos has paid down all outstanding amounts on its $110 million bank credit facility, which totaled approximately $41 million. In connection with the Transaction, the Company also amended its credit facility to allow for this divestiture as well as provide a permanent reduction in the financial covenants for future periods under the credit agreement.

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the theflyonthewall.com disclaimer & terms of use