Kratos Awarded Contract to Provide Disrupters to U.S. Army
SAN DIEGO, Feb 11, 2009 (GlobeNewswire via COMTEX News Network) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading national defense, IT and security solutions provider, today announced that its DTI subsidiary has been awarded a contract by the U.S. Army Tank Automotive Command to provide 200 stand-off disrupters with an award value of $1.5 million.
The MK-40 standoff disrupter is used by military explosive ordnance disposal teams to disarm or disrupt unexploded ordnance from a stand-off distance, which greatly reduces the threshold of danger to a bomb technician. The disrupter features both a laser aiming sight and an optical aiming sight and is capable of firing a range of solid projectiles to remotely explode specific types of improvised explosive devices (IED's).
Dave Carter, Executive Vice President of Kratos' Defense Engineering Solutions division, said, "We are very pleased to be able to deliver an innovative product which has such a significant impact on the safety of our nation's warfighters. The MK 40 disrupter, manufactured by Chemring EOD Limited, is a versatile device which helps reduce the risks presented by IED's, including the protection of soldiers, civilian lives, and property."
Kratos' DTI subsidiary is located in Glen Burnie, MD and provides a variety of disrupters and related consumables, equipment, tools, and robotic vehicles to the U.S. military. DTI is the exclusive United States sales and marketing agent for Chemring EOD Limited.
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 sales of the MK-40 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 sales of the MK-40 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 31, 2007, the Company's Quarterly Report on Form 10-Q for the period ended September 28, 2008, 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 email@example.com
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