Kratos wins $36M sole-source air defense contract

Kratos Defense & Security Solutions (Nasdaq: KTOS) has received an approximately $36 million sole-source contract award for a new air defense missile system, according to a press release from the San Diego-based company.

Work under the contract will be performed at a secure Kratos manufacturing facility. The company said no additional information about the program would be provided due to security, competitive, and other considerations.

Tom Mills, President of Kratos' C5ISR Division, said, "Building military-grade hardware on schedule and on budget, hardware that must work every time, is hard, and is also a clear differentiating capability of Kratos."

Eric DeMarco, President and CEO of Kratos, said the company's air defense hardware, products, and systems business is "currently seeing increased demand from numerous customers for multiple systems, platforms and technologies" both in the United States and internationally.

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