Kratos Wins $20 Million International Drone Contract for Production Aircraft, Support Equipment, and Services

Rhea-AI Summary

Kratos Defense & Security Solutions (Nasdaq: KTOS) announced a $20 million contract from an international client for unmanned aerial target drone systems. The contract covers aerial target drones, spares, ground control systems, and training services. Steve Fendley, President of Kratos' Unmanned Systems Division, emphasized the affordability and performance of their systems as pivotal for expanding their international presence. Work will be conducted at Kratos facilities and other locations. Specific details about the contract remain undisclosed due to competitive reasons.

Positive

• Secured a $20 million contract, boosting revenue.
• Expands international market presence for unmanned systems.
• Includes services such as technical training and support.

Negative

• None.

SAN DIEGO, Feb. 09, 2022 (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 $20 million contract award from an international customer for high performance, unmanned aerial target drone system aircraft and related services. The procurement includes aerial target drones, spares and consumables, ground control station (GCS), ground support equipment, launching systems, and payloads. In addition to the hardware to be provided, KUSD will deliver services that include testing, technical training, in-country establishment, and technical assistance.

Steve Fendley, President of the Kratos Unmanned Systems Division, said, “We’re pleased to be increasing our international footprint for production drone systems with this new international customer and region. The performance versus cost affordability of Kratos’ systems is key in enabling us to continue growing this business line and supporting U.S. allies abroad.”

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 Kratos manufacturing facilities and customer locations. Due to competitive 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. Kratos specializes in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, hypersonic systems, small to mid-sized jet engines and technology, training, and combat systems. 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, 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 contract value announced by Kratos Defense for unmanned aerial systems?

Kratos Defense announced a contract valued at $20 million.

Who is the customer for Kratos Defense's $20 million drone contract?

The customer is an international client, though specific details are not disclosed.

What products are included in the Kratos Defense contract?

The contract includes unmanned aerial target drones, ground control stations, and technical services.

What is the significance of Kratos Defense's recent contract award?

The contract signifies expanded international market presence and increased revenue potential for Kratos Defense.

When was the $20 million contract announced by Kratos Defense?

The contract was announced on February 9, 2022.