SAN DIEGO, May 20, 2014 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, announced today that its Kratos Defense and Rocket Support Services Division (KDRSS) recently received a $9 million contract award to support the prototype development of the railgun fire control system and hypervelocity guided projectile. Under the new contract award, KDRSS will design, engineer, manufacture, and deliver prototype projectiles and a fire control system to support at-sea and land demonstrations that are currently scheduled to begin in 2016. Due to customer related and other considerations, no additional information will be provided related to this contract award.
Robert Weaver, Kratos' Railgun Program Manager, said, " We are pleased to continue our support of the Railgun Program and look forward to working with the Fire Control and Hypervelocity Projectile Integrated Product Teams to develop and field a railgun weapon system."
Dave Carter, President of KDRSS, said, "We are proud to have received this recent contract award from this very important customer in support of the railgun effort. In addition to the railgun, other leading technology programs and initiatives KDRSS supports include hypersonic vehicles, directed energy weapons and ballistic missile defense targets."
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.