Kratos Receives Approximate $13 Million Potential Value Electronic Warfare System Single Award Contract

Rhea-AI Summary

Kratos Defense & Security Solutions (Nasdaq: KTOS) announced a potential value contract worth approximately $13 million for electronic warfare systems. This contract will be incrementally funded and performed at secure facilities. Kratos specializes in national security technologies, including unmanned systems, missile defense, and cyber warfare. Yonah Adelman, President of Kratos Microwave Electronic Division, emphasized the significance of this contract in supporting national security. The company focuses on innovative, affordable technology for defense and commercial markets.

Positive

• Awarded a $13 million contract for electronic warfare systems.
• Incremental funding expected over the performance period.
• Strengthens Kratos's position in national security solutions.

Negative

• None.

SAN DIEGO, Dec. 19, 2022 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a leading National Security Solutions provider, announced today that it has recently received an approximate $13 million potential value, Single Award Contract for electronic warfare related system products and solutions.  The contract is expected to be incrementally funded over the relative periods of performance. Kratos is a technology company in the National Security and commercial market areas, providing hardware, products, systems and solutions for hypersonics, ballistic missile defense, space and satellite communication, engine and propulsion, unmanned aerial drone, cyber warfare and other areas.  Work under this program award will be performed at secure Kratos engineering and production facilities.  Due to competitive, security related and other considerations, no additional information will be provided related to this contract award.

Yonah Adelman, President of Kratos Microwave Electronic Division (KMED), said, “KMED is a leading technology and product supplier supporting missile, radar, command, control, communications, space, satellite and other systems, and our entire organization is proud to work with this important National Security related customer.”

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 26, 2021, 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 contract announced by Kratos (KTOS)?

The contract has a potential value of approximately $13 million.

What type of products does the contract relate to for Kratos (KTOS)?

The contract relates to electronic warfare related system products and solutions.

Where will the work for the Kratos (KTOS) contract be performed?

Work will be performed at secure Kratos engineering and production facilities.

Who is the President of the Kratos Microwave Electronic Division?

Yonah Adelman is the President of the Kratos Microwave Electronic Division.

What markets does Kratos Defense & Security Solutions (KTOS) serve?

Kratos serves the national security and commercial markets, focusing on unmanned systems, missile defense, and cyber warfare.