Kratos Receives $3.2 Million Contract Award for Next Generation Small Engine Development for National Security Program

Rhea-AI Summary

Kratos Defense & Security Solutions (Nasdaq: KTOS) announced a contract award of approximately $3.2 million for developing a Next Generation small engine for a National Security Program. The Kratos Turbine Technologies (KTT) Business is already under contract to develop turbojet, turbofan, and other engines for unmanned aerial drones and cruise missiles. The work will take place at a secure Kratos facility. KTT's mission focus is on affordable, high-performance engines to meet the expanding requirements of customers.

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• Awarded a contract worth approximately $3.2 million for engine development.
• KTT is developing engines for high-priority National Security applications.

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• None.

SAN DIEGO, Sept. 28, 2021 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a leading National Security Solutions provider, announced today that its Kratos Turbine Technologies (KTT) Business has recently received an approximate $3.2 million contract award for the development of a Next Generation small engine for a National Security Program.  KTT is currently under contract and in development for several Next Generation turbojet, turbofan, and other engines for certain National Security priority areas, including unmanned aerial drone systems, cruise missiles, powered munitions and other platforms and systems.  Work under this recent contract award will be performed at a secure Kratos technical, engineering and development facility.  Due to customer, competitive and other considerations, no additional information is being provided related to this recent contract award.

Stacey Rock, President of KTT, said, “At Kratos, affordability is a technology, and KTT is focused on disrupting the small turbojet and turbofan class market area with a family of new, high performance, high power, affordable engines which address our customers’ rapidly expanding requirements.  We believe that Kratos’ digital engineering capabilities, which utilize an integrated digital approach with authoritative sources of system data and models across our entire organization’s functions and disciplines is a competitive differentiator for our Company and significant value contributor for our customers.”

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 27, 2020, 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 recent contract awarded to KTOS about?

KTOS received a $3.2 million contract for the development of a Next Generation small engine for a National Security Program.

What areas is Kratos Turbine Technologies (KTT) focusing on?

KTT is focusing on small turbojet and turbofan engines for unmanned aerial drones, cruise missiles, and other National Security platforms.

Where will the work under the new KTOS contract be performed?

The work will be performed at a secure Kratos technical, engineering, and development facility.

What are the key competitive advantages of KTT?

KTT emphasizes affordability, high performance, and an integrated digital engineering approach as competitive differentiators.

What should investors know about the forward-looking statements in the KTOS press release?

Investors should be aware that forward-looking statements involve risks and uncertainties that may cause actual results to differ materially.