SAN DIEGO, Oct. 10, 2012 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, announced today that its Public Safety & Security Solutions (PSS) Division has recently been awarded a new critical infrastructure security contract valued at $2.8 million. The new contract award is the first phase in a project that includes the upgrade and expansion of an existing access control system deployed across numerous higher education campus facility locations for a certain educational institution and the securing of approximately 700 related critical entry points. The specialized security system will be integrated into a command and control infrastructure and centralized communication network. The security system will be a critical element of this institution's critical infrastructure security and safety posture and a key tool for security personnel first responders. Future phases of this project will include securing critical interior entry points at the various campus locations, as well as an upgrade and expansion of the existing video surveillance system. Due to certain customer specific and other considerations, no additional information will be provided related to this contract award.
Kratos' public safety and critical infrastructure security business comprises approximately 20 percent of Kratos' business base, is not DoD funded and has been organically growing sequentially each quarter this year as Kratos PSS addresses some of our country's most critical strategic asset and public safety security priorities. Approximately 15 percent of Kratos' PSS business is recurring in nature, as Kratos PSS maintains, operates, sustains or upgrades security system and related command and control infrastructure previously deployed.
Ben Goodwin, President of Kratos PSS, said, "Kratos' public safety and security business's primary mission is securing our country's most important critical infrastructure and strategic assets. We are proud to have been selected for this security system deployment."
About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS) is a specialized National Security technology business providing mission critical products, services and solutions 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, unmanned systems, cyber warfare, cyber security, information assurance, and critical infrastructure security. Kratos has primarily an engineering and technically oriented work force of approximately 4,400. The vast majority 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.
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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 general economic conditions and cutbacks in government 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 25, 2011, 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.