Kratos Awarded Contract Modification Valued at $22 Million to Provide Satellite Command and Control System Sustainment

Rhea-AI Summary

Kratos Defense & Security Solutions (Nasdaq: KTOS) announced a $22 million delivery order for satellite and communication systems, with $11.8 million funded. This modification enhances capabilities in mission planning, telemetry, and cybersecurity. The award reflects Kratos' role in supporting U.S. military operations amidst rising challenges in space. Phil Carrai highlighted the company’s unique technical solutions tailored for defense applications. Despite the positive news, no further details about the contract were disclosed due to customer-related considerations.

Positive

• Received a $22 million delivery order for satellite and communication systems.
• Enhancements include new capabilities in cybersecurity and satellite constellation capacity.
• Continues support for U.S. military operations in contested space environments.

Negative

• No additional details provided regarding the contract due to customer-related considerations.

SAN DIEGO, Dec. 29, 2020 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a leading National Security Solutions provider, announced today that it has received a delivery order valued at $22 million and funded at $11.8 million for satellite and communication system products, hardware and equipment. This modification is against a previously-awarded contract.

This award is for mission activity and maneuver planning, telemetry processing, commanding, orbit and attitude management, resource management, space vehicle and ground system simulation, security, support planning and execution, training and testing. The modification will now sustain new capability such as virtualization, additional satellite constellation capacity and cybersecurity enhancements. Satellite state-of-health operations include launch, early orbit, on-orbit, anomaly resolution, disposal, and backup operations. 

"Kratos is one of the few commercial companies that can offer this mix of cutting edge technical solutions, products and services to support mission-specific requirements of defense applications,” said Phil Carrai, President of the Kratos Space, Training and Cyber Division. “Especially during this time of increasingly congested and contested space operations, we are pleased to continue support to the U.S. military with products and tailored solutions for protected, resilient military satellite operations.”

Due to customer related and other considerations, no additional information will be provided related to this contract award.

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. At Kratos, affordability is a technology and we specialize 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 29, 2019, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.

Press Contact:
Yolanda White
858-812-7302 Direct

Investor Information:
877-934-4687
investor@kratosdefense.com

FAQ

What is the value of the delivery order announced by Kratos Defense & Security Solutions on December 29, 2020?

The delivery order is valued at $22 million, with $11.8 million funded.

What enhancements are included in Kratos' recent satellite and communication systems contract?

The enhancements include capabilities in mission activity, telemetry processing, cybersecurity, and increased satellite constellation capacity.

What role does Kratos play in U.S. military operations according to the recent announcement?

Kratos provides technical solutions and support for protected military satellite operations.

Why was no additional information provided about the contract awarded to Kratos?

No further details were disclosed due to customer-related considerations.