SAN DIEGO, Aug. 23, 2018 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS ), a leading National Security Solutions provider, announced today that it was awarded an Indefinite Delivery, Indefinite Quantity (IDIQ) Training Systems Contract IV (TSC IV) by the Naval Air Warfare Center Training System Division (NAWCTSD).
TSC IV is a multiple-award contract for new training systems, modifications and upgrades to existing training systems, complementary Instructional Systems Development (ISD) and complementary Training Systems Support. The contract has a potential value of $980 Million and a potential performance period of up to nine years. TSC IV will be the Naval Air Systems Command’s (NAVAIR) primary source of such systems.
To meet the training challenges of increasingly sophisticated weaponry, tactics and readiness needs, Kratos integrates the latest in Virtual Reality (VR), Augmented Reality (AR) and Mixed Reality (MR) technology with its state-of-the-art simulation systems and instructional design approaches to address a broad spectrum of military training disciplines including many of the requirements included in TSC IV.
Kratos’ warfighter training solutions for air, ground and naval platforms comprise an extensive array of training products and services, including the Kratos Aircrew Training Center (KATC), where experienced Kratos instructors provide customers with cost-effective training services such as rotary-wing aerial gunnery and search and rescue to ensure mission readiness.
Jose Diaz, Senior Vice President of Kratos Training Services (KTS) said: “With our selection to the TSC IV contract we look forward to continue to support our Warfighter Readiness with our innovative synthetic training environment (STE) technologies that enable world class training solutions, which lower costs, provide for rapid development and deliver high-fidelity performance.”
About Kratos Defense & Security Solutions Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS ) develops and fields transformative, affordable technology, platforms and systems for United States National Security related customers, allies and commercial enterprises. Kratos is changing the way breakthrough technology for these industries are rapidly brought to market through proven commercial and venture capital backed approaches, including proactive research and streamlined development processes. Kratos specializes in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, hypersonic systems, training and combat systems. For more information go to 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. 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. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. 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 31, 2017, 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 investor@kratosdefense.com
