Kratos Receives $3.3 Million Sole-Source Contract for Production of Jet Drone Target Aircraft and Related Systems
October 11 2019 - 8:00AM
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a
leading National Security Solutions provider, announced today that
its Unmanned Systems Division has been awarded a $3.3 million
contract for 10 production jet target drone aircraft and related
systems. This order represents a periodic recurring need/request
for Kratos’ target systems as part of a multi-year basic ordering
agreement with this key international customer.
Kratos is a leading provider of high performance
unmanned aerial drone systems for threat representative target
missions to exercise weapon, radar, and other systems; and tactical
aerial drone systems for strike/ISR and force multiplication
missions. Work under this contract award will be performed
primarily at the Kratos Unmanned Systems Division production
facilities in Oklahoma City, Oklahoma. Due to competitive,
customer related and other considerations, no additional
information will be provided related to this new contract
award.
Steve Fendley, President of Kratos’ Unmanned
Systems Division, said, “As our Oklahoma City facility has
established and ramped up production capability based on our
forecasts, these recurring production orders validate our planning
and enable the “machine” to be in full swing. We are excited
to increase our production rates in Oklahoma City, and are fully
committed to supporting our international customer base in addition
to our domestic customers.”
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, combat systems and next generation turbo jet and turbo
fan engine development. 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
30, 2018, 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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