SAN DIEGO, May 23, 2018 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, announced today that it has recently received a number of space and satellite communications contract awards totaling approximately $55 million. Work performed under these awards is expected to be substantially completed over the next 12 months.
The awards include Kratos products and services across a wide variety of technology application domains that are critical to defending space operations and assuring global satellite communication for the United States and its allies, as well as commercial operations that are essential to national security. They include solutions for satellite command & control, signal monitoring, end-to-end service assurance, cloud-enabled architectures and other applications.
Phil Carrai, President of Kratos’ Space, Cybersecurity and Training business, said, “The breadth of products and technologies Kratos is applying in these awards, ranging from industry-leading COTS products to tailored waveforms for mission-specific applications, is the best evidence that the space industry is experiencing a dramatic period of innovation. That innovation is being driven by factors equally diverse, among them small satellites, HTS satellites, new challenges to space dominance and renewed interest in space around the globe, yet unifying them all are Kratos products that assure the availability, reliability and security of space missions. In an increasingly crowded and contested environment, it is becoming increasingly clear that the ability to defend and operate in space will depend more and more upon the ability to manage from the ground.”
Kratos products support more than 85 percent of United States space missions, and are used by more than 75 percent of global satellite operators. Kratos owns and operates the largest global, commercial network of space-focused Radio Frequency (RF) sensors employed to help customers identify, locate and mitigate interference challenges. The company recently announced it has begun leveraging this network to offer new Space Situational Awareness (SSA) services to bring additional clarity and insight to operations in the space environment for its customers.
Due to customer related, competitive and other considerations, no additional information will be provided related to these contract awards.
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.