SAN DIEGO, June 02, 2015 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, announced today that its Defense & Rocket Support Services (DRSS) Division has recently been awarded a $4.5 million, two-year contract in support of certain directed energy programs for a United States Government customer. DRSS is a leading provider of products, systems, solutions and support services for many of the United States’ leading and disruptive technology programs, including electromagnetic railgun, directed energy and laser systems, hypersonics and ballistic missile defense target systems. Due to customer related and other considerations, no additional information is being provided related to this new contract award.
Dave Carter, President of Kratos’ DRSS Division, said, “Our entire team is proud to have received this contract award in support of directed energy system programs. At DRSS, certain of our key strategic focus and potential growth areas include electromagnetic railgun, hypersonic systems, ballistic missile defense as well as directed energy and laser weapon systems.”
Eric DeMarco, Kratos’ President & CEO, said, “Investing in and supporting disruptive national security programs and missions, including high powered directed energy and laser systems, is a priority for Kratos. We are currently making large discretionary investments in similar disruptive technology areas, including unmanned systems, satellite communications and signal monitoring and intelligence, which we expect will continue as we see the opportunity for significant revenue, profit and cash flow growth in each of these areas for our Company.”
DRSS is a leading provider of high technology products and solutions for strategic national security programs and initiatives, including disruptive railgun, hypersonic vehicle, directed energy weapon and ballistic missile defense target programs and missile and combat system upgrade and support.
About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS) is a specialized Technology Company providing mission critical products, solutions and services for United States National Security. Kratos' core capabilities are sophisticated engineering, manufacturing and system integration offerings for National Security platforms and programs. Kratos' areas of expertise include Command, Control, Communications, Computing, Combat and Intelligence, Surveillance and Reconnaissance (C5ISR) systems, satellite communications, electronic warfare, unmanned systems, hypersonic systems, directed and high power energy systems, electromagnetic railgun, missile defense, cyber warfare, cybersecurity, information assurance, and critical infrastructure security. Kratos has primarily an engineering and technically oriented work force of approximately 3,600. Substantially all of Kratos' work is performed on a military base, in a secure facility or at a critical infrastructure location. Kratos' primary end customers are National Security related agencies. News and information are available at www.KratosDefense.com.
Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty, including risks related to product failure, general economic conditions and cutbacks in spending. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended December 28, 2014, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.