Kratos and INDUS Team Awarded $21 Million Naval Undersea Warfare Center Contract
SAN DIEGO, Jun 16, 2009 (GlobeNewswire via COMTEX News Network) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading national security, information technology and public safety solutions provider, today announced that, as a member of the INDUS Technology team, the Company has been awarded a substantial portion of a $21 million, five year (base year plus four one year options) contract to support the Naval Undersea Warfare Center (NUWC) division in Keyport, WA.
Under this contract, Kratos will provide technical support, including Fleet Operations Support, Test and Evaluation Support, Magnetic Silencing Facility Operational and Maintenance Support, Technical Analysis and Assessment and Information Technology Support for the Undersea Warfare Training Ranges at Pearl Harbor and the Fleet Test and Evaluation Center at Barber's Point.
"We are very pleased that NUWC has again recognized the INDUS Technology Team including Kratos' unique ability to support this important program for the U.S. Navy," said Dave Carter, Executive Vice President of Kratos' Defense Engineering Solutions group. "This contract win strengthens our presence in one of our key strategic locations, the NUWC organization in Honolulu, HI."
Eric DeMarco, President and Chief Executive Officer of Kratos, commented, "Our Defense Engineering Solutions group is dedicated to providing range support operations, in addition to a variety of C4ISR services and solutions to our customers. This is a key strategic focus area for us, along with Weapon Systems Support and Sustainment, Information Technology & Assurance, and Cybersecurity. We believe that we are very well positioned to bid on a growing number of opportunities in these areas in the future."
About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS) provides mission critical engineering, IT services and war fighter 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 revenues that will ultimately be derived from the NUWC award and whether any additional work will be issued and the amount of revenues that will be derived from additional work, if it is issued. 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 projects under the NUWC award will curtail or terminate; risks that the integration of SYS or Digital Fusion will prove more costly, take more time, or be more distracting than currently anticipated; 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 28, 2008, the Company's Quarterly Report on Form 10-Q for the period ended March 29, 2009, and in other filings made with the Securities and Exchange Commission.
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SOURCE: Kratos Defense & Security Solutions, Inc.
Kratos Defense & Security Solutions, Inc. Press Contact: Rob Babbush 858-812-7309 Investor Information: 877-934-4687 investor@kratosdefense.com
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