Kratos Awarded $4.4 Million in New Homeland Security System Contract Work
SAN DIEGO, May 3, 2010 (GlobeNewswire via COMTEX News Network) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security, Information Technology, Assurance and Public Security Solutions provider, today announced that its Public Safety and Security segment has recently received new security system deployment and integration contract work of approximately $4.4 million, including options. The contract awards include security system design, deployment and integration work for a large, international petroleum and natural resources corporation, a large regional hospital and a public museum of natural science. All of Kratos' work will be performed at locations in the United States.
Kratos' Public Safety and Security segment specializes in designing, deploying, integrating, operating and maintaining security systems for strategically important assets and infrastructure primarily located in the United States. This business unit of Kratos specializes in the design, deployment, integration and operation of security and other solutions, utilizing CCTV, analytic, biometric, facility, environmental, access control, perimeter protection and sensor products, solutions and systems, as well as building automation.
"We are very pleased with the award of these new contracts, which we believe represent a continued affirmation of Kratos' capabilities, expertise and reputation in protecting some of our country's most important assets and infrastructure," said Ben Goodwin, President of Kratos' Public Safety and Security segment. "The award of these important security integration projects are a reflection on the outstanding team of employees we have, and their commitment to providing leading public safety and security solutions."
About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS) provides mission critical engineering, IT services, strategic communication 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 United States 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 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 investor@kratosdefense.com
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