Kratos Awarded $3M PACS Contract by a U.S. Healthcare Network
The physical access control solution will consolidate 24 separate systems across 68 hospitals and feature a common database and user interface.
SAN DIEGO — The Public Safety & Security division (PSS) of Kratos Defense & Security Solutions (NASDAQ: KTOS) has received a new $3 million contract for the first two phases of the design, engineering, deployment and integration of a physical access control system (PACS) for a large national healthcare customer in the United States.
If the healthcare end user completes a proposed third phase of the project the contract value is expected to grow to $5 million, according to the company. The system to be deployed will consolidate 24 separate PACS across 68 hospitals into a single system with a common database and user interface and is estimated to be completed over an 18 month period.
Kratos did not disclose the name of the healthcare provider.
The company’s PSS division recommended a software-based physical access and identity management system that can leverage existing security infrastructure and integrate systems across all locations. The solution is said to allow PSS to provide significant time and cost savings to the customer by avoiding a complete replacement of existing systems as well as create additional efficiencies in the customer’s business processes.
“We are extremely pleased to add this new large customer to our Strategic National Accounts portfolio,” says Ben Goodwin, president of Kratos’ PSS division. “We are excited about this new relationship especially since we believe there is opportunity for expansion to meet our customer’s operational and growth requirements with our national footprint and capabilities.”
Q2 Earnings Announced
Kratos issued its quarterly earnings results on July 27. The defense contractor and aerospace company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02, Bloomberg Earnings reported.
The business had revenue of $185.7 million during the quarter, compared to analyst estimates of $172.8 million. Kratos had a negative net margin of 7.07% and a negative return on equity of 1.02%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.01 earnings per share.
Shares of Kratos traded down 1.31% during trading on July 28, reaching $12.06. The company stock has a 52-week low of $4.32 and a 52-week high of $12.91. The stock’s 50 day moving average price is $11.76 and its 200-day moving average price is $9.26. The stock’s market cap is $1.04 billion.
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