KTOS - Kratos secures $20M production contract for unmanned aerial target drone systems

• Kratos Defense & Security Solutions ( NASDAQ: KTOS ) has won a ~$20M production contract for jet-powered, unmanned aerial target drone systems.
• The drone systems will be manufactured in a Kratos production facility.
• No additional information is being provided, due to competitive, security-related, and other considerations.
• Steve Fendley, President of Kratos Unmanned Systems Division, said, "We believe that this contract award is representative of Kratos' industry leading position for certain of the highest performance and most capable jet drone aircraft flying in the world today. Kratos today has multiple active production lines producing approximately 150 target and tactical jet drone aircraft annually, and this new target drone production contract award is a key element of our future expected growth trajectory."

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