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Stock Market & Financial Investment News

News Breaks
March 18, 2014
07:16 EDTKTOSKratos Defense receives $4.5M critical infrastructure security contract award
Kratos Defense announced that its Public Safety & Security Division recently received an initial $4.5M contract award for the deployment of specialized security and surveillance related products, equipment, and system integration services across a large public school district located in the eastern U.S. Kratos' PSS business designs, engineers, deploys and integrates into command and control infrastructure sophisticated security and surveillance systems that protect certain of our country's most important strategic assets, critical infrastructure and public venues. Additional follow-on orders are anticipated over the next 30 days that if awarded would bring the total contract value to approximately $10M. Due to customer specific 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 31, 2015
07:06 EDTKTOSKratos Defense receives $12M ballistic missile defense program task order
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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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