Kratos Receives Approximate $50 Million, Single Award, Sole Source High Performance Jet Drone System Related IDIQ Contract
29 September 2021 - 10:00PM
Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a
leading National Security Solutions provider, announced today that
its Kratos Unmanned Aerial Systems division (KUAS) has recently
received an approximate $50 million, single award, sole source,
high performance jet drone system related Indefinite Delivery,
Indefinite Quantity (IDIQ) contract from a United States Government
Agency. KUAS is the industry leader in the rapid design,
manufacture and delivery of affordable, high performance jet drone
systems. Work under this contract award will be performed as funded
task orders are issued by the customer at secure Kratos facilities
and customer locations. Due to customer related, competitive,
security, and other considerations, no additional information will
be provided.
Steve Fendley, President of KUAS, said, “The
Kratos team did an outstanding job working in partnership with this
critical customer, addressing their needs and requirements and
successfully negotiating this single award, sole source IDIQ
contract. We expect this contract to be fully funded over the
contract’s multi-year period of performance.”
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
27, 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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