Kratos Defense & Security Solutions Awarded Environmental Compliance Support Contract Valued At Approximately $3.5 Million
SAN DIEGO, Sep 11, 2008 (GlobeNewswire via COMTEX News Network) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading national defense, information technology and homeland security solutions provider, today announced the award of a five-year contract to provide Environmental Compliance support services to MCB Hawaii.
Kratos will provide Hazardous Material (HAZMAT) management support, Hazardous Waste management support, and Pollution Prevention (P2) services that integrate sustainable practices while maintaining full compliance with all Occupational Safety & Health Administration (OSHA), Environmental Protection Agency (EPA), United States Marine Corps, and the State of Hawaii environmental regulations for MCB Hawaii Base and Tenant commands at Kaneohe Bay, Camp Smith, Puuloa Rifle Range and Marine Corps Training Area Bellows (MCTAB).
The contract has a one-year base plus 4 one-year options with work scheduled to begin on October 1, 2008. Kratos' contract award is currently estimated to be at least $3.5 million over the five-year contract period.
"Winning this continued work is both strategic and significant for Kratos," said Howard Bates, president of the Advanced Technical Solutions Division of Kratos. "Environmental/HAZMAT is a core capability of our company. We have received recognition from our customers for our outstanding Environmental/HAZMAT management support provided over the past eleven years. This important re-compete win allows us to continue that support and further strengthens Kratos' position as the leading provider of Environmental/HAZMAT support services to the U.S. Military."
Kratos has provided Environmental/HAZMAT support to MCB Hawaii since 1997 and, under this contract award, the company will continue to provide distinguished mission essential support. Kratos also provides similar services for a wide variety of customers including the U.S. Army at Schofield Barracks Hawaii, Marine Corps Base Camp Pendleton California and the Seal Delivery Vehicle Team One Hawaii. The work requirements performed by Kratos under the new contract are vital to ensure compliance with all Federal, State and Local regulations and provide mission critical support that enhances military readiness, which meets the needs of the present without compromising the ability of future generations to meet theirs.
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. Principle services include C5ISR, weapon systems lifecycle support, military weapon range and technical services, network engineering services, advanced IT services, security and surveillance systems, and critical infrastructure design and integration. The Company is headquartered in San Diego, California, with resources 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 revenues that will ultimately be derived from the MCB/Hazmat contract award and whether any additional work will be issued and the amount of revenues that will be derived from additional work, if it is issued. 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 work under the MCB/Hazmat contract will curtail, change or terminate; risks that the new business, if or when issued, may not have the scope of work anticipated by the Company; risks that integration activities related to the recent SYS acquisition will prove more costly, take more time, or be more distracting than currently anticipated; risks that the transaction will cause disruption of the Company's operations and distraction of its management; risks of adverse regulatory action or litigation; failure to ultimately settle the litigation and/or to settle the related derivative suit; 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 31, 2007, the Company's Quarterly Report on Form 10-Q for the period ended June 29, 2008, and in other filings made with the Securities and Exchange Commission.
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SOURCE: Kratos Defense & Security Solutions, Inc.
Kratos Defense & Security Solutions, Inc. Press Contact: Michael Baehr 858-812-7366 Investor Information: 877-934-4687 investor@kratosdefense.com
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