Kratos Awarded $11 Million Prime Contract to Support Anti-Submarine Warfare Training Program
SAN DIEGO, Mar 12, 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 the Company has been awarded an $11 million, five year (base year plus four option years) prime contract to support the Naval Undersea Warfare Center (NUWC) division in Keyport, WA.
Under this contract, Kratos will provide operational lifecycle support, including engineering, technical and logistics, for the MK 30 target and its associated test, handling and launch equipment. The MK 30 is an unmanned undersea vehicle that simulates a submarine by emitting acoustic and magnetic signatures that can be detected and tracked by surface ship, aircraft and submarine crews engaged in Anti-Submarine Warfare (ASW) training exercises for surface ships, submarines, and ASW aircraft, while providing more affordable and effective training for Navy crews.
"We are very pleased that NUWC has recognized our unique ability to support this critical program," said Dave Carter, Executive Vice President of Kratos' Defense Engineering Solutions group. "This contract win strengthens our presence in key strategic locations including Keyport, WA; Kauai, HI; and San Diego, CA."
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, to our customers. This is a key strategic focus area for us, along with weapon systems support and sustainment, and information technology and cybersecurity. Anti-submarine warfare support is an area we believe will continue to receive solid funding in the future due to perceived threats in this area."
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.
The Kratos Defense & Security Solutions, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3519
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 contract, whether option years will be exercised and the amount of revenues that will be derived from option years, if they are exercised. 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 option years will not be exercised; 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, and in other filings made with the Securities and Exchange Commission.
This news release was distributed by GlobeNewswire, www.globenewswire.com
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
(C) Copyright 2009 GlobeNewswire, Inc. All rights reserved.
News Provided by COMTEX