Kratos Defense & Security Solutions Awarded Systems Architecture Development and Integration (SADIE) Support Services (WCF) Contract Valued At Approximately $8.9 Million
SAN DIEGO, Aug 21, 2008 (GlobeNewswire via COMTEX News Network) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading national defense, information technology and homeland security solutions provider, today announced the award of a contract to provide the Department of the Navy, Space and Naval Warfare Systems Command (SPAWAR) Systems Center Charleston with various program management and data support services. The two-year contract has a base value in year one of approximately $4.4 million, with a total ceiling value of approximately $8.9 million.
Under the terms of the contract, Kratos will provide a range of engineering, technical and management services supporting integrated architecture development, data integration/data management, management of development and production environment and training. The services will be performed for the Department of the Navy, SPAWAR Systems Center Charleston, where the customer is acquiring integrated architecture and data integration services in support of net-centric capabilities design, development, delivery and lifecycle support.
"This is a key award for Kratos as it reinforces the company's rapidly expanding net-centric performance qualifications, specifically in the area of Enterprise Architecture capabilities for the U.S. Navy," said Howard Bates, President of Kratos' Government Solutions Division. "We are pleased to continue to strengthen our longstanding relationship with SPAWAR and to help this important customer meet its strategic performance goals."
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. Principle services include C5ISR, weapon systems lifecycle support, military weapon range and technical services, network engineering services, advanced IT services, security and surveillance systems, and critical infrastructure design and integration. The Company is headquartered in San Diego, California, with resources 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.primenewswire.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 SADIE contract award 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 work under the SADIE contract will curtail, change or terminate; risks that the new business, if or when issued, may not have the scope of work anticipated by the Company; risks that integration activities related to the recent SYS acquisition will prove more costly, take more time, or be more distracting than currently anticipated; risks that the transaction will cause disruption of the Company's operations and distraction of its management; risks of adverse regulatory action or litigation; failure to ultimately settle the litigation and/or to settle the related derivative suit; 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 June 29, 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: Michael Baehr 858-812-7366 Direct Investor Information: 877-934-4687 investor@kratosdefense.com
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