Kratos Receives $27 Million Single Award IDIQ Unmanned Drone Systems Contract from U.S. Government Agency
19 December 2017 - 8:00AM
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a
leading National Security Solutions provider, announced today that
its Unmanned Systems Division (USD) recently received a single
award IDIQ contract, with a $27 million ceiling, from a U.S.
Government Agency related to unmanned drone systems. USD is
an industry leader in the rapid design, development and fielding of
affordable high performance jet powered unmanned aerial drone
systems for tactical, combat and target applications. Work under
this contract will be performed at secure Kratos facilities and at
government locations. Due to competitive, customer related
and other considerations, no additional information will be
provided at this time.
Steve Fendley, President of Unmanned Systems
Division, said, “This recent contract award is another important
milestone in the successful execution of the unmanned systems
strategy that we set years ago. All of Kratos’ Unmanned
Systems Division is proud to support this important National
Security customer.”
Eric DeMarco, President and CEO of Kratos, said,
“Kratos’ Unmanned Systems Division continues to successfully
execute its business plan as demonstrated by this most recent
contract award, and with our recent participation in Formidable
Shield 17, where a number Kratos unmanned target drone and
ballistic missile targets performed successfully.
Additionally, USD remains in pursuit of several other large program
opportunities which we are hopeful of receiving over the next
several weeks.”
About Kratos Defense & Security
SolutionsKratos Defense & Security Solutions,
Inc. (NASDAQ:KTOS) develops transformative, affordable
technology for the Department of Defense and commercial
customers. Kratos is changing the way breakthrough
technology for these industries are brought to market through
proactive research and a streamlined development
process. Kratos specializes in unmanned systems,
satellite communications, cyber security/warfare, microwave
electronics, missile defense, training and combat systems. For more
information go to www.kratosdefense.com.
Notice Regarding Forward-Looking
StatementsCertain 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. 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. Although Kratos believes
that the expectations reflected in these forward-looking statements
are reasonable, these statements involve many risks and
uncertainties that may cause actual results to differ materially
from what may be expressed or implied in these forward-looking
statements. 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, 2016, and in subsequent reports on Forms 10-Q and 8-K and other
filings made with the SEC by Kratos.
Press Contact:Yolanda White858-812-7302
Direct
Investor
Information:877-934-4687investor@kratosdefense.com
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