SAN DIEGO, Aug. 28, 2015 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, announced today that its RT Logic subsidiary has received a $49 million firm fixed price, IDIQ, single contract award from a U.S. Government Agency for Satellite and Communication System hardware, equipment and products. The period of performance on the contract is five years with funding to be determined with each respective hardware order under the contract vehicle. The first delivery orders under the contract, totaling more than $8 million, have been received by the Company.
The dual-use technology being deployed in support of this contract has also been sold to major commercial Satellite Communications (SATCOM) operators to support their new multi-billion dollar investments in High Throughput Satellite (HTS) SATCOM fleets.
“This technology supports the new, next-generation wideband digital SATCOM payloads that are now coming on line and will dominate the growth of SATCOM for years to come. Kratos’ overarching strategy and related R&D investments in next-generation SATCOM payload monitoring is already paying dividends,” said John Monahan, President of RT Logic.
RT Logic is part of Kratos’ Technology & Training Solutions Division (KTTS) which specializes in providing systems products, solutions, and services for satellite communications command and control, signal monitoring and communications network management, as well as intelligence, cyber security and training products, solutions and services.
Phil Carrai, President of KTTS Division, said, “KTTS’s satellite and communications products and services have supported more than 85% of U.S. government space missions and are used by more than 75% of commercial satellite operators around the globe, making Kratos a leading provider of end-to-end ground segment solutions including satellite systems command and control, monitoring, signal processing and intelligence products and technologies, We are proud to support this important national security customer in its mission.”
Due to customer related and other considerations, no additional information will be provided related to this contract award.
About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS) is a specialized 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 and Intelligence, Surveillance and Reconnaissance (C5ISR) systems, satellite communications, electronic warfare, unmanned systems, hypersonic systems, directed and high power energy systems, electromagnetic railgun, missile defense, cyber warfare, cybersecurity, information assurance, and critical infrastructure security. Kratos has primarily an engineering and technically oriented work force of approximately 3,100. 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 28, 2014, 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.