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News Breaks
April 2, 2014
07:03 EDTKTOSKratos Defense awarded multi-million dollar contract for CH-47F training systems
Kratos Defense announced that it has received a new multi-million dollar subcontract from USfalcon Inc. to upgrade CH-47F Chinook Avionics Trainers, or CAT. Kratos will perform concurrency upgrade services to four of the simulators currently located at the U.S. Army's 128th Aviation Brigade in Ft. Eustis, Virginia. Kratos is the original equipment manufacturer of the simulators, which provide high-fidelity hands-on training of the aircraft avionics system in a fully integrated configuration. The upgrade includes incorporating the Aircraft Product Improvement Program One to ensure concurrency of the simulators to the aircraft as well as other product life cycle and functional enhancements, such as networking the simulators together to allow students to perform more advanced maintenance scenarios.
News For KTOS From The Last 14 Days
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September 1, 2015
09:25 EDTKTOSOn The Fly: Pre-market Movers
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07:10 EDTKTOSKratos Defense awarded $50M contract from international customer
Kratos Defense announced that its Technology & Training Solutions Division, or KTTS, has recently received a $50M, five-year, sole source single award contract from an international customer, with initial immediate funding of approximately $20M. KTTS is Kratos' provider of satellite communications command and control products, software and equipment, signal monitoring and intelligence products, and cyber security and training products, solutions and services. Work under the contract will be performed at U.S. and international locations. Due to customer-related and other considerations, no additional information will be provided related to this contract award.
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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