Kratos Awarded $3.0 Million in Contracts to Provide Critical Microwave Products to Vital U.S. and Foreign Allies' Missile Programs
International and Commercial Security Customer Base Continues to Expand, Representing Approximately 30 Percent of Kratos' Business
SAN DIEGO, Feb. 20, 2013 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, announced today that its Electronic Products division has been awarded $3.0 million in contracts to provide critical microwave components to major U.S. and foreign defense contractors. Under these contracts, Kratos will manufacture specialized Flight Termination Receivers for use in critical missile programs. No additional details are being provided due to customer and other sensitivities.
Richard F. Poirier, President of Kratos' Electronic Products division, commented, "Kratos is pleased to continue supporting these important missile programs to the Unites States and our allies. Congratulations to our Herley Lancaster operation for their unrivaled performance on these essential national security programs."
Eric M. DeMarco, President and CEO of Kratos, said, "Richard and his team are a critical element of Kratos' overall strategy to diversify and grow our business with international and commercial customers, which is extremely important in these challenging U.S. federal government budgetary times. Today, approximately 30 percent of Kratos' overall business and revenue base is generated from commercial customers and our foreign allies, and we are focused on continuing to grow this business area in the future."
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, cybersecurity, 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 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 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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