SAN DIEGO, April 24, 2014 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, announced today that its Public Safety & Security (PSS) division recently received a $2.8 million change order and scope increase to one of its existing critical infrastructure security system contracts. Under the contract modification award, Kratos will provide additional equipment and services related to an electronic security system deployment for a mass transportation authority in a major city and metropolitan area in the United States. This follow-on order and expansion of the security system deployment requirement increases PSS's total program value with this customer to over $30 million. Due to customer specific and other considerations, no additional information will be provided related to this contract award.
Ben Goodwin, President of Kratos' PSS division, said, "We are extremely proud of the confidence our customers continue to have in our company's ability to support their critical infrastructure requirements. These important contracts support some of the most challenging requirements in our industry for infrastructure protection. A key element of our strategy to grow our business is to win new security system deployment engagements with large municipalities, mass transit authorities and other security conscious enterprises, exceed our customers' expectations, and gain their confidence to provide us with additional opportunities to address their security and public safety requirements."
About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS) is a specialized National Security technology Company providing mission critical products, solutions and services 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 3,700. Substantially all 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 29, 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.