Kratos Awarded $4.9 Million Sole-Source Contract Options for Drone Mission Kits and Missile RF Subsystems
SAN DIEGO, March 03, 2020 (GLOBE NEWSWIRE) -- Kratos
Defense & Security Solutions, Inc. (NASDAQ:KTOS), a leading National
Security Solutions provider, announced today that Kratos has recently
received sole-source option awards for electronic system mission kits to
support U.S. drone operations and follow-on production orders for RF
subsystems for a major missile program. Kratos won the original competitive
drone contract in 2018 for design and development with future production
option years as the sole-source provider. The system is now in its second
production year. For the missile program, several thousand of these
subsystem units have been produced by Kratos for this major missile
platform for over 15 years. In recent years the quantities have been
increasing with potential for this trend to continue for the foreseeable
future.
Steve Fendley, President of Kratos Unmanned Systems Division, said, “Our primary focus and commitment remains developing and supporting cost-effective unmanned systems. As we continue evolving our offerings across a range of unmanned vehicle systems and key enabling technologies, we are excited about the continued expansion of our production runs providing these critical and affordable mission kits and RF subsystems to support the U.S. warfighter’s efforts. These recurring increases enable our workforce to continue to grow and our economies of scale to increase.”
Due to competitive, customer-related, and other considerations, no additional information will be provided related to this new contract award.
About Kratos Defense & Security Solutions,
Inc.
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, and
next-generation turbojet and turbo-fan engine development. For more
information, go to www.KratosDefense.com.
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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
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assumptions of the management of Kratos and are subject to significant
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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
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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 29, 2019, and in
subsequent reports on Forms 10-Q and 8-K and other filings made with
the SEC by Kratos.
Press
Contact:
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