Welcome to our dedicated page for Kratos Defense & Sec Solutions news (Ticker: KTOS), a resource for investors and traders seeking the latest updates and insights on Kratos Defense & Sec Solutions stock.
Kratos Defense & Security Solutions, Inc. develops and fields technology, products, systems and software for defense, national security and global markets. News about KTOS commonly covers contract awards and program activity across Kratos Government Solutions and Unmanned Systems, including space ground systems, missile warning and tracking support, defense rocket systems, turbine technologies, microwave products and tactical unmanned aircraft.
Company updates also address financial results, bookings and guidance; production and test milestones for systems such as Firejet and Oriole; hypersonic materials-test infrastructure under Project Helios; completed acquisitions; and board or governance changes.
Kratos Defense & Security Solutions (Nasdaq: KTOS) announced a training contract worth $16,107,305, potentially rising to $25,629,236, to support the Royal Saudi Naval Forces (RSNF). This includes an extension of a previous contract valued at $2,632,498. Kratos will provide military training services, logistics, and English Language Training for RSNF personnel. The contract reflects Kratos' international expansion in military training services, supporting RSNF's modernization efforts as per the Ministry of Defense.
Kratos Defense & Security Solutions (KTOS) reported first quarter 2020 revenues of $168.9 million, a 5.3% increase year-over-year. Bookings reached $213.1 million, yielding a book-to-bill ratio of 1.3 to 1.0. The Unmanned Systems segment saw revenues of $42.0 million, up 20.3% from the prior year. However, adjusted EBITDA decreased by 6.9% to $16.3 million. The company anticipates second quarter revenues between $160 million and $170 million, while adjusting full-year revenue guidance down to $720 million to $760 million due to COVID-19 impacts.