Kratos Receives $20.8 Million in Unmanned Aerial Drone System Contract Awards
Source: Nasdaq GlobeNewswire / 06 Mar 2019 09:15:10 America/New_York
SAN DIEGO, March 06, 2019 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc.(NASDAQ:KTOS), a leading National Security Solutions provider, announced today that it has recently received $20.8 million in new unmanned aerial drone system contract awards, including additional high performance target drone systems for multiple international customers. Kratos is a leading provider of high performance, jet powered unmanned aerial drone systems utilized as targets for potential adversary weapon system threat representation and the exercise of U.S. and its allies' weapon systems. Kratos is also a leading provider of high performance unmanned aerial drone systems used for tactical applications, including force augmentation and amplification. Work under these new contract awards will be performed at secure Kratos manufacturing facilities and at customer locations. Due to competitive, customer related and other considerations, no additional information will be provided related to these contract awards.
Steve Fendley, President of Kratos Unmanned Systems Division, said, “The Global Recapitalization of strategic weapon systems is a strong demand driver for Kratos' high performance, threat representative target drone systems, and we are proud to support the U.S. DoD and our allies in their missions.”
About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) develops and fields transformative, affordable technology, platforms and systems for United States National Security related customers, allies and commercial enterprises. Kratos is changing the way breakthrough technology for these industries are rapidly brought to market through proven commercial and venture capital backed approaches, including proactive research and streamlined development processes. Kratos specializes in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, hypersonic systems, training and combat systems. For more information go to 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 Company’s Annual Report on Form 10-K for the period ended December 30, 2018, and in our other filings made with the Securities and Exchange Commission.