Kratos Awarded up to $4.6 Million in Contracts to Provide Specialized Equipment in Support of an International Radar Program
SAN DIEGO, Dec 28, 2012 (GLOBE NEWSWIRE via COMTEX) --
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, announced today that its Unmanned Systems Solutions (USS) division has recently been awarded a contract totaling $4.6 million if all options are exercised to provide specialized equipment in support of a radar system program for an international customer. The equipment is being designed, engineered and produced in a secure Kratos manufacturing facility. No additional information is being provided due to customer and other sensitivities.
Richard Selvaggio, President of Kratos Unmanned Systems Solutions, commented, "We are extremely proud to have received this contract award from this important customer. Our division is focused on expanding and growing Kratos' international business with our unique product portfolio in the missile system, missile defense, aerial drone and targets areas. Approximately 30% of Kratos' overall corporate-wide business and revenue today is not U.S. Department of Defense funded, including approximately 10% that supports international customers' security needs."
About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS) is a specialized National Security technology business providing mission critical products, services and solutions for United States National Security. Kratos' core capabilities are sophisticated engineering, manufacturing and system integration offerings for National Security platforms and programs. Kratos' areas of expertise include Command, Control, Communications, Computing, Combat Systems, Intelligence, Surveillance and Reconnaissance (C5ISR), satellite communication systems, unmanned systems, cyber warfare, cyber security, information assurance, and critical infrastructure security. Kratos has primarily an engineering and technically oriented work force of approximately 4,400. The vast majority of Kratos' work is performed on a military base, in a secure facility or at a critical infrastructure location. Kratos' primary end customers are National Security related agencies. News and information are available at www.KratosDefense.com.
The Kratos Defense & Security Solutions, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/ pkgid=3519
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, including risks related to general economic conditions and cutbacks in government spending. 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. 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, 2011, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.
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