SAN DIEGO—Stacey G. Rock, President of the KTT Division at Kratos Defense & (NASDAQ:KTOS) Security Solutions, Inc. (NASDAQ:KTOS), recently sold a total of $106,935 worth of company stock, according to a filing with the Securities and Exchange Commission. The transactions, executed on December 2, involved the sale of 4,000 shares of common stock at prices ranging from $26.7284 to $26.7433 per share.
Following these sales, Rock retains ownership of 47,007 shares. These transactions were conducted under a 10b5-1 trading plan adopted earlier this year, ensuring compliance with pre-set trading parameters.
In other recent news, Kratos Defense & Security Solutions has reported promising Q3 2024 results, with revenues reaching $275.9 million. This represents an 8.7% organic growth in unmanned systems, surpassing estimates. The company has also confirmed its financial guidance for the year, projecting a 10% year-over-year revenue growth for 2025. Despite facing challenges in the commercial satellite sector, Kratos is realigning resources and investing in proprietary technologies. The company is expanding its manufacturing capabilities, with new facilities in Israel and India planned to open in Q2 2025. Significant growth is forecasted in the motor launch business and small jet engine production, with production ramp-ups beginning in the first half of 2025. The company is part of the PAC-P program and anticipates international opportunities for the Valkyrie drone. Kratos is also involved in hypersonics and expects substantial opportunities that could reach $1 billion over five years. Despite challenges in hiring skilled personnel, the company remains confident in its growth potential, particularly in the international target drone market and driverless vehicle solutions.
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