SAN DIEGO, Sept. 01, 2015 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, announced today that its Technology & Training Solutions Division (KTTS) has recently received a $50 million, five-year, sole source single award contract from an international customer, with initial immediate funding of approximately $20 million. KTTS is Kratos’ provider of satellite communications command and control products, software and equipment, signal monitoring and intelligence products, and cyber security and training products, solutions and services. Work under the contract will be performed at U.S. and international locations. Due to customer-related and other considerations, no additional information will be provided related to this contract award.
Phil Carrai, President of KTTS, said, “Kratos and KTTS are strategically focused on developing technology-leading, differentiated products and solutions where Kratos retains the intellectual property and design rights as a result of significant internal research, development and other discretionary investments. Our entire organization is proud to have been selected by this important customer for this large five-year program.”
Jose Diaz, Senior Vice President of KTTS, said, “The receipt of this new $50 million contract award is the culmination of several years of effort by our team, and we believe that it will aid in additional potential international opportunities for Kratos that we are currently pursuing.”
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.