Kratos Receives On Board Video Surveillance Systems (OBVSS) Contracts to Support Large Mass Transit Authority With Total Potential Value of $17 Million
Specialized Public Safety, Security and Surveillance System to Support New Light Rail Cars and Transit Buses
SAN DIEGO, Sept. 10, 2015 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS), a leading National Security Solutions provider, announced today that its Public Safety & Security Solutions (PSS) Division has recently received two awards valued at up to $17 million to support a large mass transportation authority in the United States. Under the two new contracts, PSS will design and engineer an On Board Video Surveillance System (OBVSS) that will be deployed on new light rail cars and
transit buses. PSS has received initial funding under the contract awards of approximately $5 million. PSS is a leading provider of public safety and security systems protecting critical infrastructure and strategic asset locations in the United States, including mass transportation authority, government, energy, education, healthcare, commercial and sports related sites and venues. The significant majority of PSS' work is performed at a strategic asset or critical infrastructure site. Due to customer related and other considerations, no additional information will be provided related to this contract award.
Ben Goodwin, President of Kratos' PSS Division, said, "Protecting the nation's critical assets is a primary focus of our Division, and our entire organization is proud to have received these recent contract awards that will support this leading mass transit authority."
About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS) is a specialized Technology Company providing mission critical products, solutions and services for United States National Security. Kratos' core capabilities are sophisticated engineering, manufacturing and system integration offerings for National Security platforms and
programs. Kratos' areas of expertise include Command, Control, Communications, Computing, Combat and Intelligence, Surveillance and Reconnaissance (C5ISR) systems, satellite communications, electronic warfare, unmanned systems, hypersonic systems, directed and high power energy systems, electromagnetic railgun, missile defense, cyber warfare, cybersecurity, information assurance, and critical infrastructure security. Kratos has primarily an engineering and technically oriented workforce of approximately 3,100. Substantially all of Kratos' work is performed on a military base, in a secure facility or at a critical infrastructure location. Kratos' primary end customers are
National Security related agencies. News and information are available at 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 include the proposed timing and expiration date of the Company's tender offer to repurchase the Notes. 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. 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 28, 2014, 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.
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