SAN DIEGO, Sept. 22, 2008 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading national defense, information technology and homeland security solutions provider, today announced that its Rocket Support Services (RSS) Sector has been awarded a $3 million contract from the United States Army on behalf of the Naval Surface Warfare Center, Port Hueneme Division, Detachment White Sands (NSWC PHD Det WS) to develop enhanced aerial target capabilities.
"We are pleased to extend our support of Aegis BMD events with an array of mission and launch services," said Howard Bates, president of the Advanced Technical Solutions of Kratos. "This is an area where Kratos has developed significant successful past performance qualifications and unique engineering expertise. This makes the Company uniquely qualified to perform highly-specialized work of this nature."
This is the second Task Order award to Kratos' RSS Sector under its $100M Indefinite Delivery, Indefinite Quantity (IDIQ) Theoretical Studies & Engineering Research (TSER) contract. The Aegis Ballistic Missile Defense (AEGIS BMD) Organization has tasked NSWC PHD Det WS to engineer, integrate and flight test a family of rockets to be used as tracking vehicles. These vehicles are known as Aegis Readiness Assessment Vehicles (ARAVs). This award is for the next series of ARAV targets that will support a ballistic target scenario for AEGIS BMD. ARAVs have been successfully used in Weapon System upgrade test events and have evolved into usage as targets for Aegis BMD. This is part of an ongoing requirement to provide ARAVs for Aegis BMD events. Under this Task Order, RSS will provide engineering analysis, mechanical hardware development, and launch services for two ARAV missions to be conducted during 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 indefinite delivery/indefinite quantity (IDIQ) contract and whether any additional work or task orders will be issued and the amount of revenues that will be derived from additional work or tasks, if 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 IDIQ contract 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.