Kratos Awarded New Task Order to Support UAV Predator/Reaper Acquisition Valued at Over $1.8 Million
SAN DIEGO, Mar 16, 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 to its Madison Research Division in Huntsville, Alabama of a task award with a value of over $1.8 million. The primary focus of this work is the acquisition of the Predator and Reaper unmanned aerial vehicles.
The effort comes under the company's existing multi-year Consolidated Acquisition of Professional Services (CAPS) ID/IQ contract at Wright-Patterson AFB, Ohio for which Kratos-Madison Research is a prime contractor. Under this award, Kratos will provide management, support and subject matter expertise in support of the 303 AESW, Reconnaissance Systems Wing together with our CAPS teammate, Booz Allen.
"We are very proud to receive this award and are grateful to our customers, who continue to demonstrate their trust and confidence in our CAPS Team," said Jennifer Price, Sr. Vice President of Kratos' Madison Research Division.
Kratos provides a full spectrum of advisory and assistance services under the CAPS contract, including engineering, financial management, acquisitions and logistics management, manufacturing support, administration, contracting, configuration management, test and evaluation and subject matter expertise. The CAPS tasks primarily support the acquisition efforts at Aeronautical Systems Center at WPAFB, however Kratos-Madison Research also assists research and development efforts at the Air Force Research Laboratory (AFRL) local offices.
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.
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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, 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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