Kratos Awarded $2.7 Million Sole-Source Award for Control Kits and Drone Mission Command

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SAN DIEGO, April 20, 2020 (GLOBE NEWSWIRE) — Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS), a top National Security Solutions supplier, announced today that Kratos Unmanned Systems Division has received a $2.7 million sole-source option award for Command and Control System Mission Kits to support U.S. drone operations. Kratos is the qualification and design authority and this award is part of the production program. Production is in its second year of a 5 year IDIQ contract.
Steve Fendley, President of Kratos Unmanned Systems Division, stated,”Our principal focus and commitment remains growing and supporting low-cost unmanned systems because of our country’s warfighter. During these unusual times, we are dual-hatted, dedicated to maintaining our business employees and communities secure, while continuing to provide our essential systems to the military.”
No additional information will be provided related to the new arrangement award.

Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) grows and disciplines transformative, affordable engineering, systems and platforms such as United States National Security related clients, allies and commercial businesses. For these businesses are brought to market through venture capital backed approaches and commercial, including compact development processes and proactive 27, the way breakthrough technology is altering. Kratos specializes in hypersonic systems, satellite communications, cyber security/warfare, microwave electronic equipment, missile defense, systems, training and combat methods, and next-generation turbojet and engine development. To learn more, visit http://www.KratosDefense.com.
These forward-looking statements are created on the basis of expectations, the current beliefs and assumptions of the management of Kratos and therefore are subject to doubt and risks. Investors are cautioned to not put undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are created, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. These statements involve risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these statements, although Kratos believes that the expectations reflected in such forward-looking statements are reasonable. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, in addition to 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 29, 2019, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC from Kratos.

Source: Kratos Defense & Security Solutions, Inc..