Kratos Awarded $72.3 Million Award to Provide Unmanned Aerial Target Systems and Technical Support to the United States Air F...
December 22 2014 - 6:00AM
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a
leading National Security Solutions provider, announced today that
its subsidiary, Composite Engineering, Inc. (CEI), has received a
$72.3 million award, including options, from the Air Force Life
Cycle Management Center, Armament Directorate, Test and Training
Division, Aerial Targets Branch for delivery of three Lots of AFSAT
target drones and technical support. The award includes the
execution of an initial $24.3 million order for Lot 11 aerial
targets, non-recurring engineering, and support, with options for
Lot 12 and Lot 13 totaling an additional approximately $48 million.
Contract performance, including options, is expected to be executed
through 2018.
Specialized hardware and equipment in support of the contract
will be provided by three Kratos entities:
- CEI, located in Sacramento, CA, will lead the effort and
provide high performance aerial target drones and technical
support.
- Micro Systems Inc., located in Ft. Walton Beach, FL, will
supply the majority of the high performance avionics utilized on
the target drone to include critical command and control and flight
computer systems.
- Herley Industries, Inc., located in Lancaster, PA, will provide
additional key avionic systems.
Performance on the contract will commence immediately, with
deliveries scheduled to complete in 2018. CEI target drone systems
are utilized as high fidelity enemy threat surrogates, simulating
performance characteristics of certain threat aircraft and
missiles, and are utilized by U.S. and allied militaries around the
globe for weapons testing and training requirements. Kratos is a
leading provider of high performance unmanned aerial drone and
target systems, unmanned aerial, ground and sea platforms, command,
control, avionics control and termination systems.
Jerry Beaman, President of Kratos' Unmanned Systems Division,
said, "We are proud that the Air Force is continuing our
partnership with this important award for an additional three
production Lots. It is an honor to provide products and services
that enable the Aerial Targets Program Office to provide reliable
and threat representative targets and support that help hone the
skills of our military pilots and aircrew."
About Kratos Defense & Security
Solutions
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS) is a
specialized National Security technology Company providing mission
critical products, solutions and services 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, electronic warfare,
unmanned systems, missile defense, cyber warfare, cybersecurity,
information assurance, and critical infrastructure security. Kratos
has primarily an engineering and technically oriented work force of
approximately 3,600. Substantially all 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.
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
29, 2013, and in subsequent reports on Forms 10-Q and 8-K and other
filings made with the SEC by Kratos.
CONTACT: Press Contact:
Yolanda White
858-812-7302 Direct
Investor Information:
877-934-4687
investor@kratosdefense.com
Kratos Defense and Secur... (NASDAQ:KTOS)
Historical Stock Chart
From Apr 2024 to May 2024
Kratos Defense and Secur... (NASDAQ:KTOS)
Historical Stock Chart
From May 2023 to May 2024