Naval Air Warfare Center Training Systems Division Awards Kratos $38.6 Million in New Royal Saudi Naval Forces Training Task ...
16 July 2018 - 11:30PM
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a
leading National Security Solutions provider, announced today that
it received two additional task orders (TOs) on a Foreign Military
Sales (FMS) indefinite delivery indefinite quantity (IDIQ) contract
awarded to Kratos by the Naval Air Warfare Center Training Systems
Division (NAWCTSD) in support of the Royal Saudi Naval Forces
(RSNF). The ceiling on the FMS IDIQ contract was raised from
$46 million to $99 million to accommodate these and future TOs.
The TOs cover training programs that are
designed to sustain levels of military preparedness and
performance, increase the protection of critical industrial
infrastructure and further strengthen defense interoperability with
U.S. and other allied forces. When added to the original $24
million TO, issued at the time of the IDIQ award in 2017, the new
TOs increase Kratos’ contract award value to $62.6 million.
Under the new TOs, Kratos will provide an extensive array of
instructional services for a broad range of missions, functions and
tasks including, but not limited to, surface operations and
maintenance, damage control and English Language Training
(ELT).
Jose Diaz, Sr. Vice President of Kratos Training
Solutions, said, “Kratos continues our global expansion of training
products and services in areas including the Middle-East, Australia
and Europe. With the new TOs, we continue to support the
RSNF’s commitment to the transformational goals of the Ministry of
Defense with an extensive portfolio of military-focused training
and instructional services for ground, sea and air platforms as it
modernizes its growing naval fleet.”
About Kratos Defense & Security
SolutionsKratos Defense & Security Solutions,
Inc. (NASDAQ:KTOS) develops and fields transformative,
affordable technology, platforms and systems for United States
National Security related customers, allies and commercial
enterprises. Kratos is changing the way breakthrough
technology for these industries are rapidly brought to market
through proven commercial and venture capital backed approaches,
including proactive research and streamlined development
processes. Kratos specializes in unmanned systems,
satellite communications, cyber security/warfare, microwave
electronics, missile defense, hypersonic systems, 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
31, 2017, 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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