SAN DIEGO, June 22, 2009 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading national security, information technology and public safety solutions provider, today announced that its Public Safety and Security segment has secured security system integration and access control systems integration work valued at up to $5.7M.
A significant portion of this new business is to provide access control and security systems to a large, international conglomerate with significant manufacturing and industrial requirements in the United States. The base or initial value of this work is approximately $1 million, with up to an additional $1.4 million of follow on integration work and potential contract value.
The remaining $3.3 million represents recent contract awards for Kratos to provide security systems, including video surveillance, facility access control, and other security elements and building automation technology to certain educational and industrial customers across the United States.
"We are very pleased to have just recently received these strategically significant awards," said Ben Goodwin, President of Kratos' Public Safety and Security segment. "We have spent many years establishing our reputation as a leader in this industry, and these awards are affirmation that our customers recognize our expertise and reputation."
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. Principal services include C4ISR, weapon systems sustainment, military weapon range operations and technical services, network engineering services, information assurance and cybersecurity solutions, security and surveillance systems, and critical infrastructure design and integration. The Company is headquartered in San Diego, California, with resources located throughout the U.S. and at key strategic military locations. News and information are available at www.KratosDefense.com.
The Kratos Defense & Security Solutions, Inc. logo is available at http://www.globenewswire.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 revenue that will ultimately be recognized under the contract described in this release. 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 customer will curtail or delay the work under the contract; risks of adverse regulatory action or litigation; failure to ultimately settle ongoing 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 29, 2008, the Company's Quarterly Report on Form 10-Q for the period ended March 30, 2009, and in other filings made with the Securities and Exchange Commission.