Kratos Awarded $1.8 Million Department of Education Contract
SAN DIEGO, Jul 23, 2009 (GlobeNewswire via COMTEX News Network) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading information technology, information assurance, public safety, and educational services provider, today announced that its Civilian Services Education Group has been awarded a 36 month, $1.8 Million contract to support the U.S. Department of Education's Office of Vocational and Adult Education.
The Division of Adult Education and Literacy sought a firm through the Multiple Award Task Order (MATO) contract to implement a project called Supporting States' Development of Policies for Adult Basic Education (ABE) to Postsecondary Education (PSE) Transitions. Kratos' civilian sector, partnered with Abt Associates and Maher and Maher, was awarded the contract.
This project will identify up to eight states that will receive technical assistance and coaching to support the creation, implementation and monitoring of state policies that strengthen the transition of adult learners from adult basic education classrooms into postsecondary education, employment and/or training. Once the states are identified and recruited, teams will be brought together for a national institute to create action plans for the creation of new policies. Kratos will also be responsible for identifying resources and tools that will further the states' work, monitoring the quality of technical assistance being delivered, managing the coaching cadre, developing a website for social networking and cross state collaboration, and disseminating the lessons learned from this investment.
Brent Wildasin, Senior Vice President for Kratos' East Coast Information Technologies Services, said, "We are very pleased that the Department of Education has recognized our unique capabilities by awarding us this contract. We have a long and successful history in supporting a variety of educational and training initiatives, and believe that our track record will enable us to help our customer meet their objectives on this very important program."
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 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 March 30, 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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