Kratos Awarded $5 Million in New Security System, Life Safety, and Automation Contracts
SAN DIEGO, Feb 1, 2010 (GlobeNewswire via COMTEX News Network) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading national security, information technology and public security solutions provider, today announced that its Public Safety and Security segment has secured new security system, life safety and building automation contract work of $5 million. The new contract awards include a $3.5 million program for security, life safety and building automation for a 55 story bank complex in Philadelphia, Pennsylvania. Additionally, the new awards include security system design, deployment and integration work for an international petroleum and petrochemical pipeline corporation, an international industrial conglomerate, the United States Social Services Administration, and a large industrial manufacturing organization in the transportation and critical infrastructure industry.
Kratos Public Safety and Security segment specializes in designing, deploying, integrating, operating and maintaining security systems and HVAC systems for strategically important assets and infrastructure. This business unit of Kratos specializes in the design, deployment, integration and operation of security and other solutions utilizing CCTV, analytic, biometric, facility, environmental and access control products and systems.
"We are very grateful to our customers, who continue to demonstrate their trust and confidence in our team of employees who execute on these important contracts," said Ben Goodwin, President of Kratos' Public Safety and Security segment. "The award of these important building automation, life safety and security integration projects represent a continued affirmation of Kratos expertise and reputation by our customer base.
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 United States 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 29, 2008, the Company's Quarterly Report on Form 10-Q for the period ended September 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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