Kratos Awarded $6.6M in Security System Contract Work
SAN DIEGO, Oct 8, 2009 (GlobeNewswire via COMTEX News Network) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOSD), a leading national security, information technology and public safety solutions provider, today announced that its Public Safety and Security segment has secured new security system integration work valued at $6.6M. The security work includes video surveillance including analytics, access control, biometrics and other security related elements as specified by Kratos customers. Kratos Public Safety and Security segment specializes in designing, deploying, integrating, operating and maintaining security systems for strategically important assets and infrastructure for its customers.
Included in these new business awards is security system work for the United States Department of Defense, an International Petroleum and Petrochemical provider, and large multi national security related organizations. Additionally, Kratos received a contract to provide access control and security systems to a large industrial manufacturing organization involved in the transportation industry.
"We continue to be pleased with the trust and confidence our customers have shown through the award of these important security integration projects," said Ben Goodwin, President of Kratos' Public Safety and Security segment. "These awards are affirmation that our customers recognize our expertise and reputation and they are a compliment to our employees whose industry knowledge has established our reputation as a leader in this market."
About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOSD) 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 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 June 28, 2009, and in other filings made with the Securities and Exchange Commission.
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SOURCE: Kratos Defense & Security Solutions, Inc.
CONTACT: Kratos Defense & Security Solutions, Inc. Press Contact: Yolanda White 858-812-7302 Direct Investor Information: 877-934-4687 investor@kratosdefense.com
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