Kratos Awarded $2.2M Contract to Provide Aegis Ballistic Missile Defense (BMD) Program Products, Technology and Services
SAN DIEGO, Mar 24, 2010 (GlobeNewswire via COMTEX News Network) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Defense, Information Technology, Assurance and Security Solutions provider, today announced the award of a $2.2 million contract from Naval Surface Warfare Center Port Hueneme Division White Sands (NSWC PHD Det WS).
The Aegis Ballistic Missile Defense (BMD) Organization has tasked the NSWC PHD Det WS to engineer, integrate and flight test a family of sub-orbital rockets as tracking vehicles that simulate a variety of potential enemy ballistic missile threats. These vehicles are known as Aegis Readiness Assessment Vehicles (ARAVs). Under this Contract Award, the Rocket Support Services Business Unit of Kratos will provide up to eight (8) Nose Tip Aero Shell assemblies for future ARAV-C missions. This award follows the successful initial launch of the ARAV-C rocket in November of 2009.
"We are extremely pleased to continue our support of NSWC PHD Det WS to provide a low cost, mission capable solution to meet AEGIS BMD test requirements," said David Carter, President of Kratos' Defense Engineering Solutions Division.
About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS) provides mission critical engineering, IT services, strategic communications and war fighter solutions for the U.S. federal government and for state and local agencies. Principal services include C5ISR, 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.
The Kratos Defense & Security Solutions, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3519
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 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 Direct Investor Information: 877-934-4687 investor@kratosdefense.com
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