SAN DIEGO, May 8, 2012 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, today announced the award of a five year, $50 million contract option under the Department of Defense at the White Sands Missile Range, New Mexico Theoretical Studies and Engineering Research (TSER) multiple award contract. This option award is a follow-on to the base contract the company was awarded in March 2008.
Since the initial TSER contract award, Kratos' Rocket Support Services (RSS) business unit, located in Glen Burnie, Maryland, has provided over a dozen ARAV-A, ARAV-B and ARAV-C low-cost targets utilizing the Kratos Oriole rocket system for the Missile Defense Agency (MDA) testing of the U.S. Navy sea-based Aegis ballistic missile defense system. Kratos is also producing six Oriole rocket systems for NASA's use in conducting scientific research, one of which was launched as part of NASA's recent Anomalous Transport Rocket Experiment (ATREX) mission to gather information needed to better understand the high-altitude jet stream located 60 to 65 miles above the surface of the
Earth. The third area of support provided under the TSER Contract is hypersonic propulsion research; the first mission is the joint United States Air Force/ Australian DSTO HIFiRE-2 launch scheduled for early May 2012.
The award of the TSER contract option will enable Kratos to continue to expand its role supporting target programs, scientific research and technology development. Kratos will be expanding its capabilities to also provide targets for land-based missile defense systems, including Aegis Ashore, THAAD and PAC-3 with the addition of the Guided Oriole rocket system to include thrust vector control, which will have its first flight in early 2013.
Dave Carter, President of Kratos' Defense Engineering Solutions division, which includes the RSS business unit, stated, "The TSER contract has enabled Kratos to provide low-cost targets and launch support services for a wide variety of MDA target missions and other research and technology programs. We are very proud of the 100% mission success achieved to date under our TSER contract and look forward to continuing our support of DOD Theoretical Studies and Engineering Research."
Eric DeMarco, Kratos' President and Chief Executive Officer, said, "We are very pleased to be a successful provider of low-cost targets for MDA ballistic missile defense programs and other DOD research activities under the TSER contract and look forward to continuing this partnering relationship with the DOD under the TSER contract option."
About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS) is a specialized National Security technology business providing mission critical products, services and solutions for United States National Security priorities. 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 Systems, Intelligence, Surveillance and Reconnaissance (C5ISR), satellite communication systems, unmanned systems, cyber warfare, cyber security, information assurance, critical infrastructure security and weapons systems sustainment. Kratos has primarily an engineering and technical oriented work force of approximately 4,100, many
of whom hold an active National Security clearance, including Secret, Top Secret and higher. The vast majority of Kratos' work is performed on a military base, in a secure facility or at a critical infrastructure location. Kratos' primary end customers are United States Federal Government agencies, including the Department of Defense, classified agencies, intelligence agencies and Homeland Security related agencies. News and information are available at www.KratosDefense.com.
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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 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, including risks related to product performance, general economic conditions and cutbacks in government spending. 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 25, 2011, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.
CONTACT: Press Contact:
Yolanda White
858-812-7302 Direct
Investor Information:
877-934-4687
investor@kratosdefense.com
Source:
Kratos Defense & Security Solutions, Inc.
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