SAN DIEGO, July 7, 2014 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS ), a leading National Security Solutions provider, announced today that its Modular Systems Division (KMSD) recently received approximately $32 million in contract awards for specialty products and systems in support of certain National Security programs, including Radar, Missile System and Warfighter support programs. KMSD, which will be performing the work under these programs, is an industry leader in the design, engineering, manufacture, and integration of specialty modular systems and products that support mission critical United States National Security programs and those of our allies. KMSD products support leading technology and disruptive programs, including unmanned systems, intelligence, surveillance and reconnaissance platforms, radar and missile systems, the electromagnetic rail gun and chemical, biological, radiation, nuclear and explosive (CBRNE) sensing programs.
Work performed under these contract awards will be performed at secure Kratos manufacturing facilities. Due to customer related and other considerations, no additional information will be provided related to these programs.
Tom Mills, President of KMSD, said, "Our entire organization is proud to have recently received these specialized product orders supporting these incredibly important programs and National Security focused customers. With these recent new program orders, June 2014 KMSD bookings came in at approximately $64 million, a record for our organization, positioning KMSD for a strong second half of fiscal 2014."
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.
Press Contact: Yolanda White 858-812-7302 Direct Investor Information: 877-934-4687
