Kratos Awarded $1.4 Million Department of Labor Technical Support Contract
SAN DIEGO, Nov 23, 2009 (GlobeNewswire via COMTEX News Network) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading provider of information technology, information assurance, public safety, and workforce performance services, today announced that it has been awarded a task order to provide technical assistance and support to the U.S. Department of Labor Employment and Training Division's Office of Policy Development and Research (OPDR).
Through this task order Kratos will provide technical assistance and support in a number of areas including expert advice to assist with policy development activities, budget development, congressional briefing materials and testimony, regulatory activities and management of the ETA Advisory System. The award is for a 12-month period of performance plus four one-year options for a total potential value of approximately $1.4 million. Kratos has been providing technical assistance to OPDR in various capacities since 2003.
"We are proud to receive this new award and get this vote of continued confidence from a long-standing customer," commented Phil Carrai, Executive Vice President of Kratos Information Technology Solutions. "While many people associate Kratos only with advanced security and defense-oriented solutions, our technology support and workforce performance solutions are relied upon by civilian agencies as well, such as the Department of Labor, Department of Education and the U.S. Forestry Service."
About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS) provides mission critical engineering, IT services and war fighter solutions for the U.S. federal government and for state and local agencies. Principal services include C4ISR, weapon systems sustainment, military weapon range operations and technical services, network engineering services, information assurance and cybersecurity solutions, security and surveillance systems, and critical infrastructure 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 customer will curtail or delay the work under the contract; risks of adverse regulatory action or litigation; failure to ultimately settle ongoing 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; 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 29, 2008, the Company's Quarterly Report on Form 10-Q for the period ended September 27, 2009, 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 investor@kratosdefense.com
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