Kratos Receives Initial Approximate $4 Million in Single Award Funding on New C5ISR Program Award with Total Potential $75 Million Program Value
01 December 2021 - 12:00AM
Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a
leading National Security Solutions provider, announced today that
it has received the initial, approximate $4 million in funding on a
new, single award, Command, Control, Communication, Computing,
Combat System, Intelligence, Surveillance & Reconnaissance
(C5ISR) program, with a total potential program value of
approximately $75 million, including production. Kratos C5ISR
Business is an industry leader in products, systems and solutions
supporting unmanned aerial vehicle, space & satellite
communications, missile, radar, missile defense, high power
directed energy, CBRNE and other C5ISR platforms and systems for
national security programs of the United States and its allies.
Work under this new program award will be performed at secure
Kratos production and manufacturing facilities. Due to customer,
competitive, security related and other considerations, no
additional information will be provided related to this program.
Tom Mills, President of Kratos C5ISR Division,
said, “The recapitalization of strategic weapon systems to address
peer threats to the United States and its allies is driving strong
demand for Kratos products and systems, including as related to
unmanned aerial systems, satellite communications and missile and
radar systems. We are honored to have received this award
from this critical national security related customer.”
Eric DeMarco, President and CEO of Kratos, said,
“Kratos is making the internally funded investments required to
address our national security customers’ most important and time
sensitive requirements, with rapid development and fielding of
systems that are technologically advanced and relevant to today’s
environment. We believe that this new, sole source award is
representative of Kratos’ - listen to the customer, make the
investment and provide the solution - organic growth
approach.”
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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