SAN DIEGO, May 21, 2018 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, announced today that its Unmanned Systems Division (KUSD) has recently received approximately $38 million in high performance unmanned aerial drone aircraft, systems, and related product contract awards. KUSD is a leading provider of affordable high performance unmanned aerial threat representation target drone systems and tactical drone systems for force augmentation, multiplication, distributed lethality, anti-access/area denied environment survivability and other missions. KUSD is also a leading provider in unmanned ground and unmanned seaborne systems, and command, control and communication systems. Work under these recent contract awards will be performed at secure Kratos manufacturing facilities and customer locations. Due to customer related, competitive, and other considerations, no additional information will be provided related to these contract awards.
Steve Fendley, President of Kratos Unmanned Systems Division, said, “KUSD is a leader in the rapid development, demonstration, and fielding of certain of the highest performance unmanned aerial drone systems in the world at an affordable cost, and these recent contract awards demonstrate Kratos’ positioning as having the right products at the right price points to address our customers’ mission and budgetary requirements.”
Eric DeMarco, President and CEO of Kratos, said, “Since 2013 we have been making significant internally funded investments in KUSD to develop and own the intellectual property in a suite of high performance unmanned aerial drone aircraft and systems, which is now generating significant returns via long term, multi-year program and contract awards. As a result, production is now beginning on several new programs and increasing on existing programs, and with our significant KUSD internal investments expected to be complete in the second half of this year, we are forecasting increased revenues, profitability and cash flow.”
About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) develops transformative, affordable technology for the Department of Defense and commercial customers. Kratos is changing the way breakthrough technology for these industries are brought to market through proactive research and a streamlined development process. Kratos specializes in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, 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.