Kratos Awarded Sole-Source Contracts for 21 High-Performance Jet Drones, Spares, and Support Totaling Over $19,000,000
SAN DIEGO, April 15, 2020 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS), a leading National Security Solutions provider, announced today that the Kratos Unmanned Systems Division has recently received sole-source contract awards totaling more than $19 million for the purchase of 21 high-performance jet target drones and spares. As a part of one of the contracts, Kratos will also provide development engineering to enable key specific mission capability for that customer.
Steve Fendley, President of Kratos Unmanned Systems Division, said, “To prepare for a forecasted growth in demand, Kratos Unmanned has invested in and expanded our production facilities over the past 12-18 months, allowing us to begin immediately fulfilling new orders even in these uncertain times. We are proud to continue supporting our Defense customers as critical infrastructure within the Defense Industrial Base. Upholding the nation’s security by helping our customers meet their critical needs while also protecting the safety and health of our employees is our top priority and will continue to be as we meet the increasing demand for our high-performance UAS.”
Kratos Unmanned Systems Division is a leading provider of high performance unmanned aerial drone and target systems for threat representative target missions to exercise weapon, radar, and other systems; and tactical aerial drone systems for strike/ISR and force multiplication missions. Due to competitive, customer-related, and other considerations, no additional information will be provided related to these new contract awards.
About Kratos Defense & Security Solutions, Inc.
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 and combat systems, and next-generation turbojet and turbo-fan engine development. For more information, go to .
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 29, 2019, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.
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