Kratos Awarded New Contract to Continue Critical Network Infrastructure Upgrade of Major West Coast Health Organization
SAN DIEGO, Apr 6, 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 it has been awarded a new contract to upgrade the network infrastructure in seismic-compliant facilities, and to build out fiber-based medical grade networks in new hospital construction projects. The cumulative contract award on this effort is approximately $5 million.
Recent studies showed that approximately 40% of California's hospitals are at risk of collapse in a major earthquake. California legislation requires all at risk hospitals to either retrofit or replace their facilities. Kratos is responsible for performing network modernization, infrastructure design, and installation, in the retrofitted or new facilities. Additionally, Kratos is required to ensure that critical hospital functions are not interrupted during the transition to an upgraded network.
Phil Carrai, Executive Vice President of Kratos' Information Technology Solutions division, said "We are very pleased to continue participating in this critical seismic upgrade program. It is imperative that California's hospitals remain standing and functional during and after an earthquake, and the network infrastructure certainly is a critical component."
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 that involve risks and uncertainties, including, without limitation, expressed or implied statements concerning the Company's expectations regarding anticipated revenues from the network infrastructure upgrade program. 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 related to timing and execution of the network infrastructure upgrade program; risks that the integration of recently acquired businesses will prove more costly, take more time, or be more distracting than currently anticipated; risks of adverse regulatory action or litigation; risks associated with debt leverage; risks that our cost cutting initiatives will not provide the anticipated benefits; 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; risks that changes may occur in Federal government (or other applicable) procurement laws, regulations, policies and budgets; risks relating to contract performance; changes in the competitive environment (including as a result of bid protests); failure to successfully consummate acquisitions or integrate acquired operations and competition in the marketplace which could reduce revenues and profit margins; risks that potential future goodwill impairments will adversely affect our operating results. 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.
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SOURCE: Kratos Defense & Security Solutions, Inc.
Kratos Defense & Security Solutions, Inc. Press Contact: Rob Babbush 858-812-7309 Direct Investor Information: 877-934-4687 investor@kratosdefense.com
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