Kratos Receives $3.2 Million Contract Award for Next Generation Small Engine Development for National Security Program
SAN DIEGO, Sept. 28, 2021 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a leading National Security Solutions provider, announced today that its Kratos Turbine Technologies (KTT) Business has recently received an approximate $3.2 million contract award for the development of a Next Generation small engine for a National Security Program. KTT is currently under contract and in development for several Next Generation turbojet, turbofan, and other engines for certain National Security priority areas, including unmanned aerial drone systems, cruise missiles, powered munitions and other platforms and systems. Work under this recent contract award will be performed at a secure Kratos technical, engineering and development facility. Due to customer, competitive and other considerations, no additional information is being provided related to this recent contract award.
Stacey Rock, President of KTT, said, “At Kratos, affordability is a technology, and KTT is focused on disrupting the small turbojet and turbofan class market area with a family of new, high performance, high power, affordable engines which address our customers’ rapidly expanding requirements. We believe that Kratos’ digital engineering capabilities, which utilize an integrated digital approach with authoritative sources of system data and models across our entire organization’s functions and disciplines is a competitive differentiator for our Company and significant value contributor for our customers.”
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. 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 .
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 27, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.
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