Kratos Receives Initial $2 Million C5ISR Contract Award in Support of Large New Combat System Program
Source: Nasdaq GlobeNewswire / 10 Oct 2019 08:00:25 America/New_York
SAN DIEGO, Oct. 10, 2019 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, announced today that its C5ISR Modular Systems Division has recently received an initial $2 million contract award from a national security related customer in support of a large Combat system program. The combat system program that Kratos is now designed in on and supporting is currently expected to ultimately grow and become one of the largest in Kratos’ C5ISR business unit. Kratos’ C5ISR Modular Systems Division is an industry leader in supporting Command, Control, Communications, Computing, Combat, Intelligence, Surveillance and Reconnaissance (C5ISR) Systems. Platforms of Kratos C5ISR include missile, radar, unmanned system, directed energy, missile defense, surface combatant and ground vehicle. Work under this new contract award is expected to be performed in secure Kratos manufacturing facilities. Due to customer related, competitive and other considerations, no additional information will be provided related to this program.
Tom Mills, President of Kratos C5ISR Modular Systems Division, said, “This new contact award and combat system program for Kratos is representative of the successful execution of our strategy to become designed in on and support major weapons systems related programs of record. Based on current forecasts and expectations, we currently believe that this new Kratos program will become one of the largest in our business over the next few years, and we are proud to have been selected by this critical national security related customer.”
About Kratos Defense & Security Solutions
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, combat systems and next generation turbo jet 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 30, 2018, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.