Kratos Defense & Security Solutions, Inc (NASDAQ:KTOS) Wins $9.5M Worth Contracts This Week
Kratos Defense & Security Solutions, Inc (NASDAQ:KTOS) has seen its market valuation driven up by a hugely impressive 9.1 during trading on 18th March. These gains at the market were triggered by the security systems and solutions maker disclosing over the past couple of days, that it has bagged two new deals which are totally worth close to $9.5 million, in addition to filing its Form 10K with SEC on March 13th.-
$4.5M, U.S School District Project
The smaller of the contracts was worth a total of $4.5 million and was awarded by a school district in a eastern U.S. state. The firms “Public Safety & Security Division” won this deal and the disclosed amount is for the first part of the project, which involves deployment and maintenance of cutting edge surveillance and monitoring system designed to safeguard schools in the state. On execution of the first phase of the contract, the company anticipates avenues opening up for a second phase of the project which is budgeted for a even larger $5.5 million. The second phase project is expected to be awarded over the next 30 days.
Big Win For The Company In The Civilian Space
Expressing his happiness at winning this contract, Kratos Defense & Security Solutions, Inc (NASDAQ:KTOS) Public Safety & Security Division head, Ben Goodwin has been quoted to have said that, “We are very pleased to have been selected for another key award in our educational vertical market, which continues to be one of the strongest areas for our business. Continuing to support our nation’s school systems is extremely important to our entire organization, and we appreciate the confidence our customers have expressed in our capabilities to support their security requirements.”
The other contract which was recently won by Kratos Defense & Security Solutions, Inc (NASDAQ:KTOS) was worth $5 Million and was awarded to its “Missile and Radar System Product division”.