Benzinga | Sep 29, 2021 10:39AM EDT

Kratos Bags $50M Jet Drone System Related IDIQ Contract

* Kratos Defense & Security Solutions, Inc's (NASDAQ:KTOS) Kratos Unmanned Aerial Systems (KUAS) division has received an ~$50 million, single-award, sole-source, jet drone system-related IDIQ contract from a U.S. Government Agency.

* The company to perform the work under this contract at its secure facilities and customer locations.

* The company expects this contract to be fully funded over the contract's multi-year period of performance.

* Price Action: KTOS shares are trading higher by 1.16% at $22.69 on the last check Wednesday.