Kratos Awarded $11 Million Contract to Support the Navy Directed Energy and Electric Weapon Systems and Total Ship Training System Program Offices
SAN DIEGO, Jul 29, 2010 (GlobeNewswire via COMTEX News Network) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, today announced that it has been awarded a cost-plus-fixed fee, indefinite-delivery/indefinite-quantity five-year contract valued at $11 million for technologically-sensitive, non-personal technical and engineering services in support of the Naval Surface Warfare Center, Crane Division, Crane, Indiana, for the Navy Directed Energy and Electric Weapon Systems (DE&EWS) and the Total Ship Training System (TSTS) Program Offices.
"We look forward to the Kratos team of professionals having the opportunity to continue providing effective and efficient support to the U.S. Navy in their ongoing and vital role in support of our nation's defense," states Jennifer Fontane, the SYS Program Manager responsible for managing the NSWC Crane Contract.
Kratos has supported the Directed Energy and Electric Weapon Systems (DE&EWS) Program Office since 2004. DE&EWS is responsible for managing the research, development, integration, and acquisition initiation of DE&EWS for the Navy's surface forces. DE&EWS is transitioning technology from the laboratory to prototype system development/test for operational development and use. One of the multiple 'game changing' technologies that is under development includes laser weapons that provide for speed-of-light engagements at tactically significant ranges with cost savings realized by minimizing the use of defensive missiles and projectiles. Additionally, Kratos has provided support to the Battle Force Tactical Training (BFTT)/Total Ship Training System Program since 2001.
About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS) provides mission critical products, services and solutions for United States National Security. Principal products, services and solution offerings relate to and support C5ISR, weapon systems sustainment, military weapon range operations and technical services, network engineering services, information assurance and cyber security solutions, security and surveillance systems, and critical infrastructure security system design and integration. The Company is headquartered in San Diego, California, with resources located throughout the U.S. and at key strategic military locations. News and information are available at www.KratosDefense.com.
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Notice Regarding Forward-Looking Statements
This news release contains certain forward-looking statements including, without limitation, expressed or implied statements concerning the Company's expectations regarding the amount of revenue that will ultimately be recognized under the contract described in this release. Such statements are only predictions, and the Company's actual results may differ materially. Factors that may cause the Company's results to differ include, but are not limited to: risks that the customers will curtail or delay the work under the contract; risks of adverse regulatory action or litigation; risks associated with debt leverage; risks that changes or cutbacks in spending by the U.S. Department of Defense may occur, which could cause delays or cancellations of key government contracts; and failure to successfully consummate acquisitions or integrate acquired operations and competition in the marketplace which could reduce revenues and profit margins. The Company undertakes no obligation to update any forward-looking statements. These and other risk factors are more fully discussed in the Company's Annual Report on Form 10-K for the period ended December 27, 2009, the Company's Quarterly Report on Form 10-Q for the period ended March 28, 2010, and in other filings made with the Securities and Exchange Commission.
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SOURCE: Kratos Defense & Security Solutions, Inc.
CONTACT: Kratos Defense & Security Solutions, Inc. Press Contact: Yolanda White 858-812-7302 Investor Information: 877-934-4687 email@example.com
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