Kratos Receives $4.8 Million in Sole Source Awards for High Performance Jet Drone Systems

SAN DIEGO, Aug. 09, 2019 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a leading National Security Solutions provider, announced today that its Unmanned Systems Division has recently received approximately $4.8 million of awards for high performance jet drones, spares for Kratos jet drones, support equipment for Kratos jet drones, and specialty composite components. Kratos is a leading provider of high performance unmanned aerial drone 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.  Work under these recent contract awards will be performed at secure Kratos manufacturing facilities and customer locations. 

Steve Fendley, President of Kratos Unmanned Systems Division, said, “With worldwide operating tempos increasing for missions supported by Kratos jet drones, the requirement for additional aircraft and the logistical elements that support operations is increasing correspondingly. We are committed to supporting our customers’ expanding requirements and are proud to be able to ramp up our production efforts to meet the demand as well as continuing our innovative system design efforts to maintain our systems on the leading edge of the evolving defense needs.”

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 .

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.

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