Kratos Awarded a $11,097,936 Firm-Fixed-Price Modification to a Previously Awarded Contract for the Procurement of Additional...
20 December 2017 - 8:00AM
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a
leading National Security Solutions provider, announced today that
its Space and Missile Defense Systems business unit out of Glen
Burnie, Maryland was awarded a $11,097,936 firm-fixed-price
modification to a previously awarded contract (N63394-16-C-0007)
for the procurement of additional Oriole rocket motor
systems. This modification is for the procurement of
additional Oriole rocket motors and hardware that will be used as
sub-orbital vehicles known as Aegis readiness assessment vehicles.
Work will be performed in Rocket Center, West Virginia and Glen
Burnie, Maryland, and is expected to be completed by January
2020. Fiscal 2017 research, development, test and evaluation
and foreign military sales funding was obligated at time of
award. The Naval Surface Warfare Center Port Hueneme
Division, Port Hueneme, California, is the contracting activity for
this procurement.
Dave Carter, President of Kratos Defense and
Rocket Support Services, said, “Our entire organization is focused
on supporting the United States and our Allies’ security missions,
and we are looking forward to working with this critically
important customer to meet its requirements. In addition to
this important opportunity, we are currently focused on a number of
additional and new opportunities, related to the hypersonic and
high power directed energy laser areas.”
Eric DeMarco, President and CEO of Kratos, said,
“Kratos supports numerous ballistic missile defense related
programs and initiatives including Aegis, Patriot, Terminal High
Altitude Aerial Defense, Space Based Infra Red, Iron Dome, Arrow,
Barak and others, and we are excited about this important
opportunity.” Mr. DeMarco continued; “Over the past several
years we have been successfully executing our strategy and
integrating, developing and building certain of our core focus
areas including ballistic missile defense, satellite
communications, unmanned systems, microwave electronics and
training systems, and we believe that we are well positioned to
continue to receive important program and contract awards.”
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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