The Naval Air Systems Command (NAVAIR) Intends to Award a Contract to Kratos Unmanned Aerial Systems, Inc. for up to Sixty (6...
17 July 2018 - 6:00PM
SAN DIEGO, July 17, 2018 (GLOBE
NEWSWIRE) -- Kratos Defense & Security Solutions, Inc.
(Nasdaq:KTOS), a leading National Security Solutions provider,
announced today that it expects its Unmanned Systems Division (USD)
to receive a contract as reflected in the July 3, 2018 announcement
from the Naval Air Systems Command:
"The Naval Air Systems Command
(NAVAIR) intends to award a contract to Kratos Unmanned Aerial
Systems, Inc. (KUAS), Roseville, CA, on an other than full and open
basis procuring: (1) the supplies and services to provide a
quantity of up to sixty (60) BQM-177A surface launched aerial
targets, with deliveries from second quarter FY20 through second
quarter FY21, that emulate anti-ship cruise missiles and technical
and administrative data associated with the
BQM-177A.
The effort shall be procured pursuant to 10 U.S.C. 2304(c)(1) and
FAR 6.302-1, "Only One Responsible Source and No Other Type of
Supplies or Services will Satisfy Agency Requirements." On 28
January 2011, Composite Engineering, Inc. (CEi), a Kratos Company,
was awarded the Engineering and Manufacturing Development Contract
N00019-11-C-0024 under a best value full and open competition. CEi
underwent a name change to KUAS in January 2018. KUAS is the
original designer, developer, and manufacturer of the BQM-177A and
its sole integrator. KUAS is the only known contractor with the
requisite knowledge, proprietary rights, maintenance and repair
experience, and noncommercial technical data and software rights to
meet the Government's requirements for the BQM-177A SSAT
system."
Steve Fendley, President of Kratos
Unmanned Systems Division, said, "All of Kratos Unmanned Systems
Division is both proud and honored to receive the U.S. Navy's
formal intention for a third low rate initial production year for
up to 60 BQM-177A high performance unmanned aerial target drone
systems. The United States Navy is one of Kratos' most
important customers, and we are continually striving to exceed
their expectations and mission requirements."
Eric DeMarco, President and CEO of
Kratos, said, "The United States Navy SSAT program is a most recent
example of the success of Kratos' strategy and business plan to be
the differentiated, go to, affordable alternative prime system and
platform provider to the U.S. Department of Defense and National
Security Agencies. We expect the BQM-177A SSAT program and
system to be multi-year, decade in length, as we strive to not only
meet, but exceed all performance, relationship and affordability
requirements and expectations of our Navy partner."
About Kratos Defense & Security
Solutions
Kratos 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 Statements
Certain 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 White
858-812-7302 Direct
Investor Information:
877-934-4687
investor@kratosdefense.com
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Kratos Defense & Security Solutions, Inc. via
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