SAN DIEGO, July 20, 2011 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, announced today that it is being awarded a $15,165,201 modification to a previously awarded contract (N00024-10-C-5132) for professional support services to the Office of the Chief of Naval Operations (OPNAV). These services include support in the areas of systems engineering, program management and related business financial management for the Pentagon, Navy Annex, and Crystal City locations.
The primary responsibilities of the OPNAV N86 Surface Warfare Directorate are to manage the integration of capabilities and resources to support the Navy's surface combat fleet. Kratos will provide critical concept of operations analyses, development of operational requirements, subject matter experts and critical budget and finance support. In addition, Kratos will coordinate program input and support between other government agencies, foreign services, academia, technical activities, laboratories, warfare centers, and industry. Work will be performed in the Washington, D.C. metro area and is expected to be completed by August 2012.
Tim Harmon, Vice President for Kratos' Military Services Business Unit, said, "We are extremely pleased to receive this sizable award and to continue our long-standing support for the OPNAV N86 Surface Warfare Community. Our analysts provide valuable subject matter expertise and financial management to support decisions made by the most senior members of the Navy leadership in developing and executing program budgets."
David Carter, President of Kratos' Defense Engineering Solutions, said, "Kratos is one of very few companies with a near 20-year history supporting the OPNAV staff, and we look forward to continuing and building that relationship during a time of increased fiscal scrutiny."
About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS) is a specialized National Security technology business providing mission critical products, services and solutions for United States National Security priorities. 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 Systems, Intelligence, Surveillance and Reconnaissance (C5ISR), unmanned systems, cyber warfare, cyber security, information assurance, critical infrastructure security and weapons systems sustainment. Kratos has primarily an engineering and technical oriented work force of approximately 3,900, the majority of which hold an active National Security clearance, including Secret, Top Secret and higher. The vast majority of Kratos' work is performed on a military base, in a secure facility or at a critical infrastructure location. Kratos' primary end customers are United States Federal Government agencies, including the Department of Defense, classified agencies, intelligence agencies and Homeland Security related agencies. News and information are available at http://www.kratosdefense.com/">www.KratosDefense.com.
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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, without limitation, statements regarding the services provided under the awarded contracts and anticipated customer relationships. 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 the Company 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 26, 2010, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.