The Naval Air Systems Command (NAVAIR) Intends to Award a Contract to Kratos Unmanned Aerial Systems, Inc. for up to Sixty (...
July 17 2018 - 4:00AM
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a
leading National Security Solutions provider, announced today that
it expects its Unmanned Systems Division (USD) to receive a
contract as reflected in the July 3, 2018 announcement from the
Naval Air Systems Command:
“The Naval Air Systems Command (NAVAIR) intends
to award a contract to Kratos Unmanned Aerial Systems, Inc. (KUAS),
Roseville, CA, on an other than full and open basis procuring: (1)
the supplies and services to provide a quantity of up to sixty (60)
BQM-177A surface launched aerial targets, with deliveries from
second quarter FY20 through second quarter FY21, that emulate
anti-ship cruise missiles and technical and administrative data
associated with the BQM-177A. The effort shall be procured pursuant
to 10 U.S.C. 2304(c)(1) and FAR 6.302-1, "Only One Responsible
Source and No Other Type of Supplies or Services will Satisfy
Agency Requirements." On 28 January 2011, Composite
Engineering, Inc. (CEi), a Kratos Company, was awarded the
Engineering and Manufacturing Development Contract N00019-11-C-0024
under a best value full and open competition. CEi underwent a name
change to KUAS in January 2018. KUAS is the original designer,
developer, and manufacturer of the BQM-177A and its sole
integrator. KUAS is the only known contractor with the requisite
knowledge, proprietary rights, maintenance and repair experience,
and noncommercial technical data and software rights to meet the
Government's requirements for the BQM-177A SSAT system.”
Steve Fendley, President of Kratos Unmanned
Systems Division, said, ”All of Kratos Unmanned Systems Division is
both proud and honored to receive the U.S. Navy’s formal intention
for a third low rate initial production year for up to 60 BQM–177A
high performance unmanned aerial target drone systems. The
United States Navy is one of Kratos’ most important customers, and
we are continually striving to exceed their expectations and
mission requirements.”
Eric DeMarco, President and CEO of Kratos, said,
“The United States Navy SSAT program is a most recent example of
the success of Kratos’ strategy and business plan to be the
differentiated, go to, affordable alternative prime system and
platform provider to the U.S. Department of Defense and National
Security Agencies. We expect the BQM-177A SSAT program and
system to be multi-year, decade in length, as we strive to not only
meet, but exceed all performance, relationship and affordability
requirements and expectations of our Navy partner.” About
Kratos Defense & Security SolutionsKratos Defense
& Security Solutions, Inc. (NASDAQ:KTOS) develops and
fields transformative, affordable technology, platforms and systems
for United States National Security related customers,
allies and commercial enterprises. Kratos is
changing the way breakthrough technology for these industries are
rapidly brought to market through proven commercial and venture
capital backed approaches, including proactive research and
streamlined development processes. Kratos specializes in
unmanned systems, satellite communications, cyber security/warfare,
microwave electronics, missile defense, hypersonic systems,
training and combat systems. For more information go to
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
31, 2017, and in subsequent reports on Forms 10-Q and 8-K and other
filings made with the SEC by Kratos.
Press Contact:Yolanda
White858-812-7302 Direct Investor
Information:877-934-4687investor@kratosdefense.com
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