SAN DIEGO, March 15, 2010 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Defense, Information Technology, Assurance and Security Solutions provider, today announced the award of a $4.9 million dollar task order under the U.S. Army Multiple Award Contract (MAC) for Theoretical Studies and Engineering Research (TSER).
The Naval Surface Warfare Center Port Hueneme Division White Sands Detachment (NSWC PHD Det WS) has a requirement to engineer, integrate and flight test a family of sub-orbital rockets to be used as diagnostic, tracking and target vehicles. Under this Task Order Award, the Rocket Support Services (RSS) Business Unit of Kratos, through its contract with NSWC PHD Det WS, will evaluate the suitability of combining a surplus Pedro rocket with the Oriole rocket. They will assess other alternative rocket systems, and support up to four (4) launches of these rocket systems.
"We are extremely pleased to continue our support of NSWC PHD Detachment White Sands to provide a low cost solution to meet AEGIS BMD test and other technology development requirements," said David Carter, President of Kratos' Defense Engineering Solutions Division.
About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS) provides mission critical engineering, IT services, strategic communications and war fighter solutions for the U.S. federal government and for state and local agencies. Principal services include C5ISR, 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.
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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 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 27, 2009, and in other filings made with the Securities and Exchange Commission.