Kratos Awarded Approximately $30 Million to Support Space-Related National Security Efforts
SAN DIEGO, April 21, 2021 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a leading National Security Solutions provider, announced today that it had received more than $30 million to support space-related U.S. national security efforts. The follow-on awards are to previous contracts, implementing advanced technologies to provide better system performance.
“Kratos enables technological approaches and modernization that were not possible even a few years ago, but can now support this program for many years to come with the inherent flexibility to upgrade and evolve at the speed of relevance,” commented Senior Vice President Frank Backes. “Kratos’ broad space portfolio is focused on technology-leading products and services that realize the DoD's vision of data being an asset. These advanced capabilities are scalable, flexible and resilient; allowing real-time data to flow from multiple domains in support of national defense.”
Phil Carrai, President of Kratos’ Space, Training and Cybersecurity Division, said, “Space is undergoing a renaissance. Advancements in ground systems and satellite technologies are joining to form space networks that support multi-domain missions and broader data requirements. Kratos is leading the digital transformation on the ground side by introducing into space networks proven technologies from other network-centric industries. Not only does this enhance performance and affordability for the DoD, it opens doors for the defense industry to better integrate with and capitalize on commercial space enterprises as well.”
Due to competitive, customer-related and other considerations, no additional information will be provided.
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. At Kratos, affordability is a technology and we specialize in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, hypersonic systems, training, combat systems and next generation turbo jet and turbo fan engine development. 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 27, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.
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