Kratos Receives Unmanned Aerial, Ground and Sea Surface Drone System Single Contract Award With Potential Value of $35 Millio...
July 15 2014 - 7:00AM
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a
leading National Security Solutions provider, announced today that
its Micro Systems, Inc. subsidiary of the Advanced Drone and
Targets Systems (ADTS) Division recently received a five-year
contract from the U.S. Army valued at up to $34.77 million for
unmanned drone system command, control and communication systems,
solutions and services. Under the new award, Kratos will be issued
task orders to provide engineering and technical support to develop
technology and system upgrades for U.S. Army unmanned ground, sea
surface, and aerial drones and target vehicles, command, and
communication system electronics and related ground control
stations. This new single contract award has a one base year and
four option year period of performance.
The company anticipates that several task orders will be
received under this contract before the end of 2014. Kratos' ADTS
Division is a premier provider of high performance unmanned drone
aircraft and these systems' related avionics, electronics, command
and control systems, solutions, services and logistics.
Kevin Ferguson, Senior Vice President of Micro Systems, Inc.,
said, "Micro Systems is pleased to continue our long term
relationship with the U.S. Army's Targets Management Office. We are
excited about all the future opportunities this award represents.
Lasting relationships such as this are an indication of the quality
of our people and products."
About Kratos
Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS) is a
specialized National Security technology Company providing mission
critical products, solutions and services 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, electronic warfare,
unmanned systems, missile defense, cyber warfare, cybersecurity,
information assurance, and critical infrastructure security. Kratos
has primarily an engineering and technically oriented work force of
approximately 3,600. Substantially all 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.
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 product failure, general
economic conditions and cutbacks in 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 29, 2013, and in subsequent reports on Forms
10-Q and 8-K and other filings made with
the SEC by Kratos.
CONTACT: Press Contact:
Yolanda White
858-812-7302 Direct
Investor Information:
877-934-4687
investor@kratosdefense.com
Kratos Defense and Secur... (NASDAQ:KTOS)
Historical Stock Chart
From Aug 2024 to Sep 2024
Kratos Defense and Secur... (NASDAQ:KTOS)
Historical Stock Chart
From Sep 2023 to Sep 2024