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News Breaks
February 13, 2014
07:44 EDTKTOSKratos Defense awarded $5.2M contract from a U.S. Federal Government Agency
Kratos Defense & Security Solutions announced that its Kratos Modular Systems Division recently received a $5.2M order for specialized products in support of a certain National Security Program from a United States Federal Government Agency. Kratos' MS Division provides specialized integrated products and solutions in support of certain of the United States' most important National Security initiatives and programs, including unmanned aerial systems, ballistic missile defense, radar systems, surface combatants and intelligence, surveillance and reconnaissance platforms. Under this new contract award, Kratos will design, engineer and produce specialized blast resistant and hardened products, which are an important element of a critical United States National Security related program. The products to be delivered under this program will be produced in a secure Kratos manufacturing facility. Due to customer related and other considerations, no additional information will be provided related to this contract award.
News For KTOS From The Last 14 Days
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August 28, 2015
07:05 EDTKTOSKratos Defense receives $49M contract award from U.S. Government Agency
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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.

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