Kratos Awarded $1.5 Million in Workforce Development Contracts for the U.S. Navy
SAN DIEGO, Sep 9, 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 development services, today announced that it has been awarded two contracts to assist the U.S. Navy in advancing the skills, knowledge and capabilities of its Information Technology workforce.
In the first contract, Kratos will develop additional modules for the Virtual Radio Room Simulation (VRR Sim) supporting Journeyman Communication Core and IT Specialist Accession curricula at the Center of Information Dominance. The simulations replace aging and expensive technical training suites in several Navy schoolhouses and provide an extensible technology platform for future system acquisition and modernization requirements.
In the second of the two contracts, Kratos will develop policy processes, performance aids and training materials to support the management of Training Devices, Simulators and Technical Training Equipment (TTE) in Navy IT classrooms and labs across the country.
According to Mike Bennett, General Manager of Kratos Workforce Development Solutions, "We are proud of these two wins because they show the breadth of our workforce support capabilities. For the VRR Sim project we will be using advanced simulation techniques to develop cutting-edge learning solutions. At the other end of the spectrum, for the TTE Inventory project we will apply management and performance support expertise to assure that the Navy has the information management infrastructure it needs to successfully execute on its training and education mission."
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 June 28, 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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