Kratos and INDUS Team Awarded $21 Million Naval Undersea Warfare Center Contract
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SAN DIEGO, June 16, 2009 (GLOBE NEWSWIRE) -- Kratos Defense & Security
Solutions, Inc. (Nasdaq:KTOS), a leading national security, information
technology and public safety solutions provider, today announced that, as a
member of the INDUS Technology team, the Company has been awarded a substantial
portion of a $21 million, five year (base year plus four one year options)
contract to support the Naval Undersea Warfare Center (NUWC) division in
Keyport, WA.
Under this contract, Kratos will provide technical support, including Fleet
Operations Support, Test and Evaluation Support, Magnetic Silencing Facility
Operational and Maintenance Support, Technical Analysis and Assessment and
Information Technology Support for the Undersea Warfare Training Ranges at Pearl
Harbor and the Fleet Test and Evaluation Center at Barber's Point.
"We are very pleased that NUWC has again recognized the INDUS Technology Team
including Kratos' unique ability to support this important program for the U.S.
Navy," said Dave Carter, Executive Vice President of Kratos' Defense Engineering
Solutions group. "This contract win strengthens our presence in one of our key
strategic locations, the NUWC organization in Honolulu, HI."
Eric DeMarco, President and Chief Executive Officer of Kratos, commented, "Our
Defense Engineering Solutions group is dedicated to providing range support
operations, in addition to a variety of C4ISR services and solutions to our
customers. This is a key strategic focus area for us, along with Weapon Systems
Support and Sustainment, Information Technology & Assurance, and Cybersecurity.
We believe that we are very well positioned to bid on a growing number of
opportunities in these areas in the future."
About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS) provides mission
critical engineering, IT services and war fighter solutions for the U.S. federal
government and for state and local agencies. Principal services include C4ISR,
weapon systems sustainment, military weapon range operations and technical
services, network engineering services, information assurance and cybersecurity
solutions, security and surveillance systems, and critical infrastructure design
and integration. The Company is headquartered in San Diego, California, with
resources located throughout the U.S. and at key strategic military locations.
News and information are available at www.KratosDefense.com.
The Kratos Defense & Security Solutions, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=3519
Notice Regarding Forward-Looking Statements
This news release contains certain forward-looking statements including, without
limitation, expressed or implied statements concerning the Company's
expectations regarding the amount of revenues that will ultimately be derived
from the NUWC award and whether any additional work will be issued and the
amount of revenues that will be derived from additional work, if it is issued.
Such statements are only predictions, and the Company's actual results may
differ materially. Factors that may cause the Company's results to differ
include, but are not limited to: risks that projects under the NUWC award will
curtail or terminate; risks that the integration of SYS or Digital Fusion will
prove more costly, take more time, or be more distracting than currently
anticipated; risks of adverse regulatory action or litigation; failure to
ultimately settle ongoing litigation; risks associated with debt leverage; risks
that changes or cutbacks in spending by the U.S. Department of Defense may
occur, which could cause delays or cancellations of key government contracts;
failure to successfully consummate acquisitions or integrate acquired operations
and competition in the marketplace which could reduce revenues and profit
margins. The Company undertakes no obligation to update any forward-looking
statements. These and other risk factors are more fully discussed in the
Company's Annual Report on Form 10-K for the period ended December 28, 2008, the
Company's Quarterly Report on Form 10-Q for the period ended March 29, 2009, and
in other filings made with the Securities and Exchange Commission.
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CONTACT: Kratos Defense & Security Solutions, Inc.
Press Contact:
Rob Babbush
858-812-7309
Investor Information:
877-934-4687
investor@kratosdefense.com
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