Kratos Receives $50 Million Sole Source Contract Option Award for 65 Production BQM-177A Aerial Target Drones from U.S. Navy
29 December 2021 - 12:00AM
Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a
leading National Security Solutions provider, announced today
following the Government announcement, that Kratos Unmanned Aerial
Systems (KUAS) has been awarded a $50,917,490 contract modification
(P00007) to a previously awarded firm-fixed-price contract
(N0001920C0075). This modification exercises an option to procure
65 BQM-177A Subsonic Aerial Targets, 50 for the Navy, seven for the
government of Japan, and eight for the government of Saudi Arabia,
as well as associated technical and administrative data in support
of full rate production lot three. The Naval Air Systems Command,
Patuxent River, Maryland, is the contracting activity. Due to
customer-related, competitive, security, and other considerations,
no additional information will be provided.
Steve Fendley, President of Kratos
Unmanned Systems Division, said, “The Kratos team is
incredibly proud to receive this third consecutive full rate
production option award supporting our U.S. Navy customer. We are
also excited that 15 of these drone aircraft will support the U.S.
Government’s foreign allies. Throughout the challenges of the last
two years, Kratos has remained focused on developing, producing,
and delivering target and tactical drone systems to support the
established and forecasted customer needs.”
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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