Kratos said it is active in the engineering, development, production and integration of hypersonic systems, flight vehicles, solid rocket motors and other high-speed systems and vehicles. The funding comes as the company continues to position itself as a supplier of affordable high-performance systems for the U.S. military and allied nations.
Dave Carter, President of Kratos’ Defense and Rocket Support Services Division, said, “Kratos is a leader in high-speed National Security Systems, including ballistic missile targets, flight test vehicles and recently, tactical systems, where Kratos’ rapid design, engineering, development, flight and fielding capabilities of systems that can be mass produced at low-cost points are clear differentiators for our Company. Kratos’ new Nemesis and Kraken initiatives are recent examples of Kratos’ industry leading vision in the high speed systems area, and we are expecting additional important hypersonic related awards in the coming months.”
Kratos said the new funding follows work by the company to meet customer schedule and programme requirements. It said the support is expected to help accelerate organic growth, improve operating cash receipts and reduce customer receivables, inventory and assets.
Eric DeMarco, President and CEO of Kratos, said, “Beginning in June and both increasing and accelerating into July, Kratos is seeing significant funding from the DoW, which is expected to accelerate our organic growth rate, increase our operating cash receipts, while reducing our customer receivables, inventory and assets where Kratos had previously “leaned forward” to ensure we met or exceeded our customers schedule related and other expectations. Kratos is an industry leading defense technology company, focused on fielding affordable, relevant systems for the Department of War, while generating organic growth, increased margins and an acceptable rate of return on our investments, with a target of significant future cash flow generation.”
The company said it remains at the forefront of hypersonic and advanced technology development and testing. It described its portfolio as focused on innovation, mission responsiveness, affordability and disruptive capabilities across multiple defense systems.
Kratos said it is the only company delivering both propulsion and flyer systems. Its systems include the low-cost Erinyes Hypersonic Flyer, Dark Fury, Zeus and Oriole solid rocket motors, along with other technologies.
Work under the hypersonic system programmes will be carried out at secure Kratos facilities and government locations. The company said no additional information would be provided on the programmes because of security, competitive and other considerations.
