Kratos Awarded $4.9 Million Sole-Source Contract Options for Drone Mission Kits and Missile RF Subsystems
04 March 2020 - 1:00AM
Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS), a
leading National Security Solutions provider, announced today that
Kratos has recently received sole-source option awards for
electronic system mission kits to support U.S. drone operations and
follow-on production orders for RF subsystems for a major missile
program. Kratos won the original competitive drone contract in 2018
for design and development with future production option years as
the sole-source provider. The system is now in its second
production year. For the missile program, several
thousand of these subsystem units have been produced by Kratos for
this major missile platform for over 15 years. In recent years the
quantities have been increasing with potential for this trend to
continue for the foreseeable future.
Steve Fendley, President of Kratos Unmanned
Systems Division, said, “Our primary focus and commitment remains
developing and supporting cost-effective unmanned systems. As we
continue evolving our offerings across a range of unmanned vehicle
systems and key enabling technologies, we are excited about the
continued expansion of our production runs providing these critical
and affordable mission kits and RF subsystems to support the U.S.
warfighter’s efforts. These recurring increases enable our
workforce to continue to grow and our economies of scale to
increase.”
Due to competitive, customer-related, and other
considerations, no additional information will be provided related
to this new contract award.
About Kratos Defense & Security
Solutions, Inc. 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, and next-generation turbojet and turbo-fan engine
development. 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 29, 2019, 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 DirectInvestor
Information:877-934-4687investor@kratosdefense.com
Kratos Defense and Secur... (NASDAQ:KTOS)
Historical Stock Chart
From Jun 2024 to Jul 2024
Kratos Defense and Secur... (NASDAQ:KTOS)
Historical Stock Chart
From Jul 2023 to Jul 2024