SAN DIEGO, Dec. 18, 2017 (GLOBE NEWSWIRE) — Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, announced today that its Unmanned Systems Division (USD) recently received a single award IDIQ contract, with a $27 million ceiling, from a U.S. Government Agency related to unmanned drone systems. USD is an industry leader in the rapid design, development and fielding of affordable high performance jet powered unmanned aerial drone systems for tactical, combat and target applications. Work under this contract will be performed at secure Kratos facilities and at government locations. Due to competitive, customer related and other considerations, no additional information will be provided at this time.
Steve Fendley, President of Unmanned Systems Division, said, “This recent contract award is another important milestone in the successful execution of the unmanned systems strategy that we set years ago. All of Kratos’ Unmanned Systems Division is proud to support this important National Security customer.”
Eric DeMarco, President and CEO of Kratos, said, “Kratos’ Unmanned Systems Division continues to successfully execute its business plan as demonstrated by this most recent contract award, and with our recent participation in Formidable Shield 17, where a number Kratos unmanned target drone and ballistic missile targets performed successfully. Additionally, USD remains in pursuit of several other large program opportunities which we are hopeful of receiving over the next several weeks.”
About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) develops transformative, affordable technology for the Department of Defense and commercial customers. Kratos is changing the way breakthrough technology for these industries are brought to market through proactive research and a streamlined development process. Kratos specializes in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, training and combat systems. For more information go to www.kratosdefense.com.
Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended December 25, 2016, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.
Source: Kratos Defense & Security Solutions, Inc.
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