New Tactical Unmanned Aerial System Aethon Receives Initial Funding
SAN DIEGO, Feb. 11, 2019 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a leading National Security Solutions provider, announced today that it has recently received approximately $14 million in unmanned aerial drone system related contract awards, including for its newest class of tactical/ISR unmanned aerial system, Aethon. Aethon, which was developed by Kratos and which Kratos owns the system design and data rights, is a unique intelligence, surveillance, and reconnaissance (ISR) unmanned aerial system (UAS). Kratos is a leading provider of high performance unmanned aerial drone systems for threat representative target missions to exercise weapon, radar, and other systems: tactical aerial drone systems for strike, force multiplication, and amplification missions; and now tactical UAS to support ISR missions and other applications. Work under these recent contract awards will be performed at secure Kratos manufacturing facilities and customer locations. Due to competitive, customer related and other considerations, no additional information will be provided related to these recent contract awards.
Eric DeMarco, Kratos’ President and CEO, said, “We believe that Kratos’ ability to rapidly develop, demonstrate, and field technology leading systems to address our customers’ mission critical national security related requirements is a clear competitive differentiator for our Company and to our customers. We are very excited that one of our newest UAS initiatives and platforms, which is flying today, Aethon, is now under a development contract with an extremely important customer.”
About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) develops and fields transformative, affordable technology, platforms and systems for United States National Security related customers, allies and commercial enterprises. Kratos is changing the way breakthrough technology for these industries are rapidly brought to market through proven commercial and venture capital backed approaches, including proactive research and streamlined development processes. Kratos specializes in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, hypersonic systems, training and combat systems. For more information go to www.KratosDefense.com.
Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended December 31, 2017, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.
Source: Kratos Defense & Security Solutions, Inc.