U.S. Department of Education Awards Two Blanket Purchase Agreements to Kratos
SAN DIEGO, Feb 16, 2010 (GlobeNewswire via COMTEX News Network) -- Kratos Defense & Security Solutions (Nasdaq:KTOS), a leading provider of National Defense, Information Technology Assurance and Security solutions, today announced that it has been awarded two ED-SAT blanket purchase agreements (BPA) by the U.S. Department of Education (DoED) to provide technical assistance and educational policy analysis services to support the Department's policy, program and performance evaluation, assessment, and research efforts.
The BPAs enable Kratos to offer services to DoED across a wide range of subject areas relating to key educational issues. The base period of performance during which purchase orders can be awarded is 24 months. At the end of the base period the BPAs can be extended on a year-to-year basis at the Department's discretion.
"Kratos has a successful, long-standing relationship with the Department of Education, and we are pleased to once again have the opportunity to support the Department's efforts to foster educational excellence and ensure that all Americans have equal access to educational opportunities," commented Phil Carrai, President of Kratos IT Solutions Division. "Kratos has a significant Department of Defense focused Workforce Training, Management and Performance business, including a large practice with the United States Navy, and these Department of Education contracts are a strong complement to our overall Strategic Communications, eLearning, and Workforce Performance services with the Federal Government."
For more than 14 years Kratos has served numerous agencies within the DoED, including the Office of Elementary and Secondary Education, the Office of Special Education and Rehabilitative Services, the Office of Vocational and Adult Education, and the Office of Postsecondary Education. Kratos DoED initiatives have included the National School-to-Work Office, the Smaller Learning Communities Program, America's Career Resource Network, Student Achievement in Reading and Adult Basic Education to Postsecondary Education.
About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS) provides mission critical engineering, IT services, strategic communications and warfighter solutions for the U.S. federal government and for state and local agencies. Principal services include C4ISR, weapon systems sustainment, military weapon range operations and technical services, network engineering services, information assurance and cybersecurity solutions, security and surveillance systems, and critical infrastructure design and integration. The Company is headquartered in San Diego, California, with resources located throughout the U.S. and at key strategic military locations. News and information are available at www.KratosDefense.com.
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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 revenue that will ultimately be recognized under the contract described in this release. 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 the customer will curtail or delay the work under the contract; risks of adverse regulatory action or litigation; failure to ultimately settle ongoing litigation; 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 29, 2008, the Company's Quarterly Report on Form 10-Q for the period ended September 28, 2009, and in other filings made with the Securities and Exchange Commission.
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SOURCE: Kratos Defense & Security Solutions, Inc.
CONTACT: Kratos Defense & Security Solutions Press Contact: Yolanda White 858-812-7302 Direct Investor Information: 877-934-4687 investor@kratosdefense.com
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