SAN DIEGO - Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a leading National Security Solutions provider, announced today that its Unmanned Systems Division has received a $23 million award for a production run of one of its high performance jet drones.
In operation around the world, Kratos target drone systems perform as high fidelity enemy threat surrogates, simulating characteristics of a range of threat aircraft and missiles. These target drones are employed for weapons testing, weapons development, and training requirements for the military user. Kratos is a leading provider of high performance unmanned aerial drone and target systems, unmanned aerial, ground and sea platforms, command, control, avionics control, and termination systems.
Steve Fendley, President of Kratos Unmanned Systems Division, said, “We have on-contract high performance drone production operations active in multiple states and multiple sites to achieve the current quantity demand which is only forecasted to continue increasing in the coming years. These are exciting times for the company and our individual employees as we see our family of fielded unmanned aircraft products grow as we transition more systems to production while simultaneously and continuously establishing and evolving new development systems.”
About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) develops and fields transformative, affordable technology, platforms and systems for United States National Security related customers, allies and commercial enterprises. Kratos is changing the way breakthrough technology for these industries are rapidly brought to market through proven commercial and venture capital backed approaches, including proactive research and streamlined development processes. Kratos specializes in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, hypersonic systems, training, combat systems and next generation turbo jet and turbo fan engine development. For more information go to 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. 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. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. 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 30, 2018, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.