SAN DIEGO, Oct. 30, 2018 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a leading National Security Solutions provider, announced today that it has received an approximate $40 million Sole Source, Single Award contract for specialized products and hardware for a command, control, communications, computing, combat, intelligence, surveillance and reconnaissance (C5ISR) system related program for a national security customer. Work under this contract award is expected to be substantially completed over the next 18 months. Kratos provides systems, sub systems, products and hardware in support of multiple missile defense related programs including Aegis, THAAD, Patriot, Barak and Arrow. Work under this new contract award will be performed at secure Kratos manufacturing facilities. Due to competitive, customer related and other considerations, no additional information will be provided related to this contract award.
Eric DeMarco, Kratos’ President & CEO, said, “Kratos is the recognized leader in rapidly developing, demonstrating and fielding leading technology systems, products and solutions at an affordable cost, and our entire organization is proud to have been selected to support this mission critical National Security requirement.”
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.