SAN DIEGO, Dec. 3, 2007 (PRIME NEWSWIRE) -- Kratos Defense and Security Solutions, Inc. (Nasdaq:KTOS) (formerly Wireless Facilities, Inc.) a leading national defense and security solutions provider, announced today that it has been awarded an additional $15.5 million in new business on its contract with the Space and Naval Warfare Systems Center (SPAWARSYSCEN) San Diego contract supporting the Joint Interagency Task Force (JIATF) South.
Under the contract, Kratos will continue to provide operations and maintenance support, engineering and technical services, computer programming, software support activity services, materials management, and logistics support services for the SPAWARSYSCEN San Diego and the JIATF South C4ISR systems and subsystems in all areas including South American countries, shore sites, land based facilities, shipyards, and on-board ships in port and at sea.
The contract was originally awarded to Kratos in June of 2003, and has a five year base period and eight six-month award terms which, if all option terms are exercised, can extend the life of the contract to 2012. The contract's base period and additional new business award terms have a total value of approximately $45 million over the life of the contract.
"These new business awards demonstrate Kratos' continued ability to provide an extensive range of engineering and technical support services and resources to the expanding and transforming Naval mission in the Southern Hemisphere," said Eric DeMarco, president and CEO of Kratos Defense & Security Solutions, Inc. "We are privileged to continue our close working relationship with SPAWARSYSCEN San Diego and JIATF South to ensure the best technical capabilities are deployed."
"We are pleased to assist SPAWARSYSCEN San Diego in their important support to the missions of SOUTHCOM and JIATF South," said Robin Mickle, president of Kratos Government Solutions, Inc. "Our work with these commands represents our significant commitment to the development, operations and support of DoD C4ISR programs."
About Kratos Defense & Security Solutions
Based in San Diego, California, and located throughout the United States and at key military locations, 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. Kratos Government Solutions, Inc. is a wholly-owned subsidiary of Kratos Defense & Security Solutions, Inc. News and information is available at www.KratosDefense.com.
The Kratos Defense & Security Solutions, Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=3519
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 amount of revenues that will ultimately be derived from the SPAWAR contract awards and whether any follow on task orders will be issued and the amount of revenues that will be derived from them if they are issued. 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 SPAWAR will curtail, change or terminate the contract; that the new business, if or when issued, may not have the scope of work anticipated by the Company; risks that the recent divestitures and change in business focus will cause disruption of the Company's operations and distraction of its management; 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 Report on Form 10-Q for the period ended September 30, 2007, and in other filings made with the Securities and Exchange Commission.