Kratos Receives High Performance Unmanned Aerial Drone System Contract Award
November 30 2016 - 7:00AM
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a
leading National Security Solutions provider, announced today that
its Unmanned Systems Division (USD) has recently received a
contract award for multiple high performance jet powered unmanned
aerial drone target systems. USD is a leading provider of
high performance jet powered unmanned aerial drone target systems
used for training, exercising, testing and development of the
United States and allied foreign militaries weapon systems.
USD is also a leading provider of high performance, jet powered
unmanned combat aerial systems (UCAS) to be used for force
multiplication, amplification and loyal wingman purposes. The
unmanned target drone systems to be provided under this contract
award will be produced in a secure USD manufacturing
facility. Due to customer related and other considerations,
no additional information will be provided related to this contract
award.
Jerry Beaman, President of Kratos’ Unmanned
System Division, said, “Our entire organization is proud to have
our high performance target drone systems selected by this
important customer for training, exercise and test of their radar
and related combat systems.”
Eric DeMarco, President and CEO of Kratos, said,
“Over the next 24 months we are expecting Kratos Unmanned Systems
Business to approximately double in size as a result of target
drone programs we currently have under contract, certain of which
are expected to begin initial production in the first half of 2017.
Additionally, if we are successful with our tactical unmanned
combat aerial system programs also currently under contract, we
believe that we could significantly exceed this growth expectation
for our Unmanned Systems Business.”
About Kratos Defense & Security
SolutionsKratos Defense & Security Solutions, Inc.
(Nasdaq:KTOS) is a mid-tier government contractor at the forefront
of the Department of Defense’s Third Offset Strategy. Kratos
is a leading technology, intellectual property and proprietary
product and solution company focused on the United States and its
allies’ national security. Kratos is the industry leader in
high performance unmanned aerial drone target systems used to test
weapon systems and to train the warfighter, and is a provider of
high performance unmanned combat aerial systems for force
multiplication and amplification. Kratos is also an industry leader
in satellite communications, microwave electronics, cyber
security/warfare, missile defense and combat systems. Kratos
has primarily an engineering and technically oriented work force of
approximately 2,800. 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
StatementsCertain 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 27, 2015, and in subsequent reports on Forms 10-Q and
8-K and other filings made with the SEC by Kratos.
Press Contact:
Yolanda White
858-812-7302 Direct
Investor Information:
877-934-4687
investor@kratosdefense.com
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