Kratos Receives $16.5 Million Electronic Warfare System Production Award

SAN DIEGO, Feb. 28, 2020 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a leading National Security Solutions provider, announced today that it has received an approximate $16.5 million single award contract for microwave electronics products in support of an airborne electronic warfare system.  This contract award is the initial production award for what is expected to be a long term, multi-year electronic warfare system upgrade across several hundred aerial platforms. Kratos is a leading provider of microwave electronic products in support of missile, radar, guided munitions, electronic warfare, communication and other programs and systems. For customer related, competitive and other considerations, no further information will be provided related to this contract award.

Yonah Adelman, President of Kratos Microwave Electronics Product Division, said, “This recent contract award is in support of what we expect to be a long term, multi-year program and one of the largest programs in our Division for the next several years. Our entire team is honored to have been selected to support this large, mission critical customer requirement.”

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 .

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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.