SAN DIEGO, May 04, 2016 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, announced today that its subsidiary, Composite Engineering, Inc. (CEi), has received a $3.87 million award from the Defense Advanced Research Projects Agency (DARPA). The goal of the Gremlins program is to demonstrate safe and reliable aerial launch and aerial recovery of multiple unmanned aircraft, capable of employing and recovering diverse distributed payloads in volley quantities. Under the Phase I contract, CEi plans to conduct system architecture and design trade studies to develop a conceptual Gremlins system design, analyze aerial launch and aerial recovery techniques, develop operational concepts, and perform demonstration system design and planning for potential future phases.
Jerry Beaman, President of Kratos' Unmanned Systems Division, said, "With this key award, CEi strengthens our presence in the emerging Unmanned Combat Aerial Systems (UCAS) market. The DARPA Gremlins program is an integral part of our overall Unmanned Aerial Systems (UAS) mission.”
Eric DeMarco, President and CEO of Kratos, said, “As a leading innovator of cutting-edge technology in the UAS arena, and in line with our future objectives and internal development efforts over the past several years, Kratos is broadening our typical offering of high-performance unmanned jet aircraft, to include system integrator-level development and demonstration of a multi-segment comprehensive system. Our strategic focus is in sync with the Department of Defense’s (DoD) Third Offset Strategy, which lays out the need to rapidly prototype innovative technologies to counter emerging threats and provide the United States with an asymmetric advantage over our adversaries. This announcement is an exciting step forward for Kratos in our partnership with DoD. Kratos will do everything possible to make Gremlins a successful program, and I look forward to continuing to work with the Department and the Congress as a leader in the UAS market.”
About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS) is a mid-tier government contractor at the forefront of the Department of Defense’s Third Offset Strategy. Kratos is a leading technology, intellectual property and proprietary product and solution company focused on the United States and its allies’ national security. Kratos is the industry leader in high-performance unmanned aerial drone target systems used to test weapon systems and train the warfighter, and is a provider of high-performance unmanned combat aerial systems for force multiplication and amplification. Kratos is also an industry leader in satellite communications, microwave electronics, cyber security/warfare, missile defense and combat systems. Kratos has primarily an engineering and technically oriented work force of approximately 2,700. 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. 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. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. 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 27, 2015, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.
Press Contact: Yolanda White 858-812-7302 Direct Investor Information: 877-934-4687 firstname.lastname@example.org
Source:Kratos Defense & Security Solutions, Inc.