SAN DIEGO, Feb. 11, 2014 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS ), a leading National Security Solutions provider, announced today that its Micro Systems, Inc. subsidiary of its Advanced Drone and Targets Systems (ADTS) Division recently received a four-year Basic Ordering Agreement (BOA) from the U.S. Navy valued at up to $29.6 million for unmanned aerial drone command and control systems and services. Under the new BOA award, Kratos can be issued orders to provide engineering support and develop upgrades to unmanned aerial drone command and control electronics and related ground control stations over the next four years. Kratos' ADTS Division is a premier provider of high performance unmanned drone aircraft and these systems' related avionics, electronics, command and control systems, solutions, services, and logistics.
Kevin Ferguson, Senior Vice President of Micro Systems, Inc., said, "Micro Systems is proud to have received this recent BOA from this valued customer. We look forward to continuing our long and highly successful relationship with the U.S. Navy's Aerial Target & Decoy Systems Program Executive Office. As we enter 2014, we believe that our business is very well positioned to meet or exceed our customers' requirements for high performance unmanned aerial drone command and control electronics and support services."
About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS ) is a specialized National Security technology Company 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, 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 3,850. 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 .
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 30, 2012, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.
Press Contact: Yolanda White 858-812-7302 Direct Investor Information: 877-934-4687
