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Stock Market & Financial Investment News

News Breaks
April 25, 2014
07:08 EDTKTOSKratos Defense awarded $2.8M in critical infrastructure security systems awards
Kratos Defense & Security Solutions announced that its Public Safety & Security division recently received $2.8M in security system deployment awards for certain educational facilities located in the United States. Under the new contract awards, Kratos will design, engineer, deploy and integrate into command and control infrastructure specialized security systems and security related assets. The security systems to be deployed will include access control, facility access, video surveillance and a comprehensive communication infrastructure. Due to customer related and other considerations, no additional information will be provided related to these contract awards.
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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