The Naval Air Systems Command (NAVAIR) Intends to Award a Contract to Kratos Unmanned Aerial Systems, Inc. for up to Sixty (60) BQM-177A Surface Launched Aerial Targets
SAN DIEGO, July 17, 2018 (GLOBE NEWSWIRE) -- 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 Solutions
Kratos 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
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. 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 White
858-812-7302 Direct
Investor
Information:
877-934-4687
investor@kratosdefense.com