Kratos Receives $4.1 Million Unmanned Aerial Vehicle System Award from International Customer

Rhea-AI Summary

On November 29, 2021, Kratos Defense & Security Solutions (Nasdaq: KTOS) announced a $4.1 million contract from an international customer for its unmanned aerial target drones and related services. The Kratos Unmanned Systems Division is noted for its affordable, high-performance drone technology aimed at national security applications. The contract work will be performed at secure facilities and customer locations. President Steve Fendley emphasized the growing global demand for Kratos' drone systems driven by the recapitalization of strategic weapon systems by the U.S. and its allies.

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• Secured a $4.1 million contract for unmanned aerial target drones.
• Strong global demand for drone systems related to national security.

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• None.

SAN DIEGO, Nov. 29, 2021 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a leading National Security Solutions provider, announced today that its Kratos Unmanned Systems Division (KUSD) has recently received a $4.1 million contract award from an international customer for high performance, unmanned aerial target drone system aircraft and related services. KUSD is a recognized industry leader in the design and production of affordable, high performance, jet powered, unmanned aerial aircraft and systems for threat representative target drones and tactical applications. Work under this contract award will be performed at secure Kratos manufacturing facilities and at customer locations. Due to competitive, security related, and other considerations, no additional information will be provided related to this contract award.

Steve Fendley, President of KUSD, said, “The recapitalization of strategic weapon systems by the United States and its allies is driving significant global demand for Kratos target drone systems, which represent certain leading technology system and platform threats of our peer adversaries.  At Kratos, affordability is a technology, and our high performance target and tactical drone systems are representative of our affordability mission. The broad application set of these drone systems as well as the speed at which they can be developed, produced, modified, and reconfigured creates the high utility / affordable cost ratio, especially as compared to manned systems. The capabilities and performance per cost ratio is highly recognized and appreciated by our established and growing customer base.”

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, please visit 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 value of the recent contract won by Kratos Defense (KTOS)?

Kratos Defense recently won a $4.1 million contract for unmanned aerial target drones.

What does the contract awarded to KTOS involve?

The contract involves high-performance unmanned aerial target drone systems and related services.

Who is the customer for Kratos Defense's recent contract?

The customer is an international entity, but specific details are not disclosed due to security reasons.

What does Kratos Defense's Unmanned Systems Division specialize in?

The division specializes in the design and production of affordable, high-performance unmanned aerial systems for tactical applications.

When was the contract announced by Kratos Defense (KTOS)?

The contract was announced on November 29, 2021.