Kratos Receives $338 Million Sole Source Contract Award for Target Drones from U.S. Air Force
13 September 2021 - 10:00PM
Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a
leading National Security Solutions provider, announced today that
Kratos Unmanned Aerial Systems has been awarded a
$338,071,466 Firm Fixed-Price, Cost-Plus-Fixed-Fee, and
Time-and-Material contract for BQM-167A Air Force Subscale Aerial
Target (AFSAT) lots 17-21 production, out-of-warranty-repairs
(OWR), and contractor logistics support (CLS). Work will be
performed at a Kratos manufacturing facility. At the time of award
funds in the amount of $30,499,362 were obligated. Air Force Life
Cycle Management Center, Eglin Air Force Base, Florida, is the
contracting activity.
Steve Fendley, President of Kratos
Unmanned Systems Division, said, “This five-year contract
represents a milestone in our target system business and reduces
the administrative burden on both the USAF and Kratos by enabling
multiple years of target delivery and support to be combined into a
single contract – smart and efficient business. It also enables
Kratos and the USAF to place even more focus on our ultimate
mission, which is high performance threat representation for
training and defensive system development. We have shared a great
partnership and team approach with the USAF throughout our nearly
20 years of working together on target systems. We are excited that
our system maturity warrants and enables the long-term contract,
and proud that the USAF has this confidence in our target systems
and personnel.”
Eric DeMarco, President and CEO of
Kratos Defense and Security Solutions, said,
“Our entire organization is focused on providing
affordable, disruptive and technology-leading products and systems
to support Unites States National Security. We anticipate the award
of multiple strategic contracts during the second half of this
year.”
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. At Kratos, affordability is
a technology and we specialize in unmanned systems, satellite
communications, cyber security/warfare, microwave electronics,
missile defense, hypersonic systems, training, combat systems and
next generation turbo jet and turbo fan engine development. 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
30, 2020, 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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