Benzinga | Dec 28, 2021 10:49AM EST

Kratos Secures $50M Sole Source Contract Option Award For Aerial Target Drones

* Kratos Defense & Security Solutions, Inc (NASDAQ:KTOS) stated that Kratos Unmanned Aerial Systems (KUAS) had secured a ~$50.92 million contract modification to a previously awarded firm-fixed-price contract.

* This modification exercises an option to procure 65 BQM-177A Subsonic Aerial Targets, 50 for the Navy, seven for the government of Japan, and eight for the government of Saudi Arabia, and associated technical and administrative data in support of full-rate production lot three.

* Price Action: KTOS shares are trading higher by 1.78% at $20.01 on the last check Tuesday.