SAN DIEGO, Nov. 8, 2007 (PRIME NEWSWIRE) -- Kratos Defense and Security Solutions, Inc. (Nasdaq:KTOS) (formerly Wireless Facilities, Inc.), a leading national defense and security solutions provider, today announced that it has been awarded contracts from two leading national digital infrastructure companies to provide a range of physical security and surveillance services. The combined value of the two contracts is approximately $5 million. The contracts were both received by Kratos' non-federal business located in the mid-Atlantic region.
"These awards represent important contracts from two large, nationally-recognized and well-respected customers," said Fred Thomas, General Manager of Kratos Mid-Atlantic. "We are pleased to be the security partner of choice to help both of these customers not only integrate significant security controls, but also help to mitigate any exposed security deficiencies in the future. This work requires the support of knowledgeable and experienced security and surveillance professionals capable of delivering a wide range of security solutions, and we are happy to have been selected for these projects."
Included in the contracts announced today, Kratos will provide a variety of security and surveillance services including access control with biometrics, smart cards, extensive interior and exterior CCTV, perimeter fence protection, alarm monitoring, photo ID and biometric enrollment, a fiber optic system, and vehicle control. One contract is part of a large, state-of-the-art facility construction project that requires comprehensive security and surveillance services. The project began on November 1, 2007 and is projected to be completed by the end of first quarter, 2008. The second project is scheduled to start in December of 2007, and is expected to be completed by June of 2008.
About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS) provides mission critical engineering, IT services and war fighter solutions for the U.S. federal government and for state and local agencies. Principle services include C4ISR, weapon systems lifecycle support, military weapon range and technical services, network engineering services, advanced IT services, security and surveillance systems, and critical infrastructure design and integration. The Company is headquartered in San Diego, California, with resources throughout the U.S. and in key strategic military locations. News and information are available at www.KratosDefense.com.
Notice Regarding Forward-Looking Statements
This news release contains certain forward-looking statements including, without limitation, expressed or implied statements concerning the Company's expectations regarding the timing of closing of the acquisition, anticipated benefits to be realized from the acquisition, future financial performance and cash flows and market developments that involve risks and uncertainties. Such statements are only predictions, and the Company's actual results may differ materially. Factors that may cause the Company's results to differ include, but are not limited to: risks that the announced contracts will be terminated prior to completion; risks that the performance on the announced contracts will not be acceptable to the customer; risks that the closing of the previously announced acquisition of Haverstick Consulting, Inc. will be delayed or that the conditions to closing will not be satisfied; risks that funding for that acquisition is unavailable or delayed because KeyBanc is not satisfied with the results of its due diligence investigation; risks that the anticipated benefits of the acquisition will not be achieved; risks that the integration will prove more costly, take more time, or be more distracting than currently anticipated; risks that the Company's name change will cause disruption to individual and/or institutional shareholders; risks of adverse regulatory action or litigation; risks associated with debt leverage; risks that changes or cutbacks in spending by the U.S. Department of Defense may occur, which could cause delays or cancellations of key government contracts; failure to successfully consummate acquisitions or integrate acquired operations and competition in the marketplace which could reduce revenues and profit margins. The Company undertakes no obligation to update any forward-looking statements. These and other risk factors are more fully discussed in the Company's Annual Report on Form 10-K for the period ended December 31, 2006, the Company's Quarterly Reports on Form 10-Q for the periods ended March 31, 2007 and June 30, 2007, and in other filings made with the Securities and Exchange Commission.