SAN DIEGO, Jan. 7, 2014 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, announced today that its Electronic Products division has received a contract valued at $11.7 million from a major prime contractor for the continuing production of electronic hardware for a critical U.S. Ballistic Missile program. The electronic products and hardware to be provided under this recent contract award will be produced in a secure Kratos manufacturing facility. No additional details are being provided due to customer and other sensitivities.
Richard F. Poirier, President of Kratos' Electronic Products division, commented, "My congratulations go to the team at Kratos Lancaster and its President, Howard Eckstein, on this important contract award. This award includes hardware used for tracking, flight safety and multi-stage flight test instrumentation for a critical U.S. Ballistic Missile program. Kratos' Herley developed and produces the flight instrumentation equipment for this missile system and has supported this program for a number of years. This ballistic missile system represents one of Kratos' largest supported programs. We are very proud of Kratos Lancaster's significant contribution to this important U.S. missile program, and we anticipate that our strong relationship with our customer will continue. Mr. Poirier continued, "Kratos' Electronic Products division is currently under contract and making significant investments in next generation electronic warfare, jamming, missile and radar programs, and we are positioning our business for important future contributions from these critical national security priority areas."
About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS) is a specialized National Security technology Company providing mission critical products, services and solutions for United States National Security. Kratos' core capabilities are sophisticated engineering, manufacturing and system integration offerings for National Security platforms and programs. Kratos' areas of expertise include Command, Control, Communications, Computing, Combat Systems, Intelligence, Surveillance and Reconnaissance (C5ISR), satellite communication systems, electronic warfare, unmanned systems, missile defense, cyber warfare, cybersecurity, information assurance, and critical infrastructure security. Kratos has primarily an engineering and technically oriented work force of approximately 3,850. The vast majority of Kratos' work is performed on a military base, in a secure facility or at a critical infrastructure location. Kratos' primary end customers are National Security related agencies. News and information are available at 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, including risks related to product failure, general economic conditions and cutbacks in spending. 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. 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 28, 2013, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.
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Source:Kratos Defense & Security Solutions, Inc.