Kratos Receives $23 Million Unmanned Aerial Drone System Production Award
08 January 2018 - 11:00PM
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a
leading National Security Solutions provider, announced today that
its Unmanned Systems Division (USD) recently received an
approximate $23 million production award for a new high
performance, jet powered unmanned aerial drone system which has
been under development. The majority of work to be performed
under this new contract award is expected to be executed over the
approximate next 12 months. This contract award is the
initial year’s production, with multiple years of additional annual
production expected thereafter. USD is an industry leader in
the rapid design, development and fielding of affordable high
performance jet powered unmanned aerial drone systems for tactical
and threat representation target purposes. Work under this
program will be performed at secure Kratos production facilities
and at customer locations. Due to customer related,
competitive and other considerations, no additional information
will be provided related to this program or contract award.
Steve Fendley, President of Kratos Unmanned
Systems Division, said, “All of Kratos USD is proud and excited to
have achieved this initial production milestone with this extremely
important customer. USD is the recognized leader in high
performance jet powered unmanned aerial drone systems, and this
aircraft is another leading edge of technology example.”
Eric DeMarco, President and CEO of Kratos, said,
“Since 2012, when we completed our last major acquisition at
Kratos, we have successfully integrated acquired businesses into a
technology, intellectual property, and product based Company, while
also investing in core focus areas including high performance
unmanned aerial drone aircraft. We are now completing
investments on a number of these new UAS platforms and entering
production, which we expect will be key contributors to future
increases in revenue, profit, cash flow and overall Kratos
shareholder value. We are confident that Kratos’ ability to
rapidly develop, demonstrate and field technology rich, affordable
systems is a demonstrated key differentiator for our Company.”
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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