Kratos Awarded Modeling and Simulation Task Valued at Over $9M
SAN DIEGO, Jan 28, 2010 (GlobeNewswire via COMTEX News Network) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading national security, IT, and public safety solutions provider, today announced the award to its Digital Fusion Solutions Division in Huntsville, AL, of a new three-year Modeling & Simulation (M&S) Task valued at more than $9 Million. This award is for development and maintenance of phenomenology and lethality models supporting US missile defense efforts. The task was awarded under the company's existing Integrated Test and Analysis Contract (ITAC) with the U.S. Army Space and Missile Defense Command/Army Forces Strategic Command.
"This task award demonstrates our commitment to our customers and to the technical advancement of the DoD M&S enterprise," said Charles Farmer, Vice President of the Kratos - Digital Fusion Solutions' Integration, Test, Training and Analysis group. "Our team continues to demonstrate its outstanding capabilities in the M&S arena."
Kratos provides the full spectrum of live, virtual, and constructive M&S based services to support the test, training, and analysis requirements of the joint military community. This support spans the entire JCIDS evaluation continuum beginning with concept development and system design & development, extending through developmental and operational test & evaluation, and culminating with exceptional operations support.
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.
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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 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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