Kratos Receives $1.6 Million Single Award Contract for New, In Development, High Performance Unmanned Aerial Drone System
March 15 2017 - 7:00AM
Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS), a
leading National Security Solutions provider, announced today that
its Unmanned Systems Division (USD) recently received an initial
$1.6 million single award contract related to a new, in
development, High Performance Jet Powered Unmanned Aerial Drone
System. Under the contract for this new UAS, USD will be
providing system engineering, avionics, data links and ground
systems. Kratos is a leading provider of high performance jet
powered unmanned aerial drone systems, vehicles and aircraft for
tactical operations and weapon systems exercise. Work under
this contract award will be performed in a secure Kratos
manufacturing facility. Due to customer related and other
considerations, no additional information will be provided related
to this contract award.
Steve Fendley, President of Kratos’ Unmanned
Systems Division, said, “We are excited to have received the
contract award for this new unmanned aerial drone system
program. USD is the leader in the design, development,
demonstration and production of low cost high performance jet
unmanned aircraft systems. We believe that our
experience in the development of this class of high performance
system was a key factor in Kratos receiving this initial award,
with future options expected to be received in 2018.”
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 2,900. 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 these and other risk factors
more fully discussed in the Company’s Annual Report on Form 10-K
for the period ended December 25, 2016, and in our other filings
made with the Securities and Exchange Commission.
Press Contact:
Yolanda White
858-812-7302 Direct
Investor Information:
877-934-4687
investor@kratosdefense.com
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