Kratos Defense & Security Solutions, Inc (NASDAQ:KTOS) has revealed that its Unmanned Systems Division has successfully managed to complete multiple missions using its Unmanned Aerial Systems (UAS).
The company made the announcement yesterday, revealing that the Unmanned Systems Division (USD) successfully managed to complete a number of missions. Additionally, they managed to achieve the impressive feat through numerous high-performance jet powered UAS. The success of the multiple missions marks quite a sentimental achievement for the company. This is especially considering that the missions were completed just before acceptance and delivery of 10 USD UAS which should take place within the next six months. The missions were part of demonstrations to be undertaken before the delivery of the products as per an existing contract.
“Our entire organization is proud to support this critical national security related customer and its mission,” stated Steve Fendley, the president of the Unmanned Systems Division at Kratos.
Kratos’ USD has been carrying out the work related to this contract at some of the company’s secure manufacturing facilities as well as other locations. Most of the details about the proceedings are considered confidential and as such, the company did not disclose more information. It is also not clear who the clients are but the firm stated that further information would not be disclosed due to competition and customer-related factors among other things.
Meanwhile, Kratos is reportedly working with the U.S Airforce on “Low-Cost Attritable Aircraft,” that can be low-cost and that can be manufactured easily. The aircraft will be small, jet-powered drones that can be armed. The company had previously said in August that it managed to secure contracts worth $2.2 million for a high-performance, jet-powered unmanned aerial aircraft. The contract was for one of its high-performance drones as well as the necessary services and delivery as per the contract was within a duration of 12 months. Further details of the contract were not disclosed.
Kratos Defense & Security Solutions stock closed the latest trading session on Monday at $12.32 after a 0.33 percent gain compared to the value of the stock during the previous close on Friday.