Kratos Receives $23 Million Sole Source High Performance Jet Drone Production Contract Award
SAN DIEGO, Aug. 05, 2019 (GLOBE NEWSWIRE) -- Kratos
Defense & Security Solutions, Inc. (NASDAQ: KTOS), a leading National
Security Solutions provider, announced today that its Unmanned Systems
Division has received a $23 million award for a production run of one of
its high performance jet drones.
In operation around the world, Kratos target drone systems perform as high fidelity enemy threat surrogates, simulating characteristics of a range of threat aircraft and missiles. These target drones are employed for weapons testing, weapons development, and training requirements for the military user. Kratos is a leading provider of high performance unmanned aerial drone and target systems, unmanned aerial, ground and sea platforms, command, control, avionics control, and termination systems.
Steve Fendley, President of Kratos Unmanned Systems Division, said, “We have on-contract high performance drone production operations active in multiple states and multiple sites to achieve the current quantity demand which is only forecasted to continue increasing in the coming years. These are exciting times for the company and our individual employees as we see our family of fielded unmanned aircraft products grow as we transition more systems to production while simultaneously and continuously establishing and evolving new development systems.”
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, combat systems and next generation
turbo jet and turbo fan engine development. 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 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 White
858-812-7302 Direct
Investor Information:
877-934-4687
investor@kratosdefense.com