By Anvee Bhutani
Kratos Defense & Security Solutions shares rose Thursday after the company said it received a sole-source contract worth about $36 million for a new air-defense missile system.
Shares were recently up 5% at $55.64.
The defense technology company said the award covers work on a new air-defense system, though it didn't identify the customer or provide additional details, citing security and competitive considerations.
Kratos said the work will be performed at one of its secure manufacturing facilities.
The company said demand for its air-defense hardware and systems has been increasing in the U.S. and internationally, adding that it has invested in expanding its manufacturing capacity in recent years.
Write to Anvee Bhutani at anvee.bhutani@wsj.com