SAN DIEGO, Sept. 9, 2008 (GLOBE NEWSWIRE) -- Kratos Defense and Security Solutions, Inc. (Nasdaq:KTOS), a leading national defense, information technology and homeland security solutions provider, today announced that its Public Safety & Security business has been awarded contracts from four leading national digital infrastructure companies and one major medical facility to provide a range of physical security and surveillance services. The combined value of the contracts is approximately $4.4 million. The contracts were received by Kratos' Mid-Atlantic office.
"These awards represent important contracts from some large, nationally-recognized and well-respected customers," said Fred Thomas, General Manager of Kratos Mid-Atlantic. "We are pleased to be the integration partner of choice to help these customers with their security controls and to help 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 range 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, and a fiber optic system. One contract is part of a large, state-of-the-art facility construction project that requires comprehensive security and surveillance services. The project is expected to be completed by the end of third quarter, 2008. The other projects are all expected to be completed by June of 2009.
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 C5ISR, 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 at key strategic military locations. News and information are available at www.KratosDefense.com.
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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 contract awards and whether any additional work will be issued and the amount of revenues that will be derived from additional work, if it is 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 work under the physical security and surveillance contracts will curtail, change or terminate; risks that the new business, if or when issued, may not have the scope of work anticipated by the Company; risks that integration activities related to the recent SYS acquisition will prove more costly, take more time, or be more distracting than currently anticipated; risks that the transaction will cause disruption of the Company's operations and distraction of its management; risks of adverse regulatory action or litigation; failure to ultimately settle the litigation and/or to settle the related derivative suit; 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, 2007, the Company's Quarterly Report on Form 10-Q for the period ended June 29, 2008, and in other filings made with the Securities and Exchange Commission.