Kratos Awarded $86.4 Million IDIQ Contract to Provide Technology-Based Training Solutions for the Navy's Education & Training Command
SAN DIEGO, Apr 10, 2012 (GlobeNewswire via COMTEX) --
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, announced today that it was awarded an Indefinite Delivery Indefinite Quantity (IDIQ) contract worth up to $86.4 million for training analysis and technology-based training development services for the Naval Education & Training Command (NETC). This contract enables NETC Learning Centers to draw upon Kratos' industry-leading expertise to develop innovative web-based training, serious gaming, desktop simulation and social learning solutions.
Phil Carrai, President of Kratos Technology and Training Solutions, said, "This award validates the trust our NETC customers place in Kratos' ability to assist them in leveraging the myriad of new and advanced training technologies available today, and to do so in a cost effective way. It will also enable Kratos to expand our efforts to offer training solutions to new customers across the Navy's surface combat systems, submarine operations, naval engineering, intelligence and cyber security domains."
About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS) is a specialized National Security technology business providing mission critical products, services and solutions for United States National Security priorities. Kratos' core capabilities are sophisticated engineering, manufacturing and system integration offerings for National Security platforms and programs. Kratos' areas of expertise include Command, Control, Communications, Computing, Combat Systems, Intelligence, Surveillance and Reconnaissance (C5ISR), satellite communication systems, unmanned systems, cyber warfare, cyber security, information assurance, critical infrastructure security and weapons systems sustainment. Kratos has primarily an engineering and technical oriented work force of approximately 4,000, many of whom hold an active National Security clearance, including Secret, Top Secret and higher. The vast majority of Kratos' work is performed on a military base, in a secure facility or at a critical infrastructure location. Kratos' primary end customers are United States Federal Government agencies, including the Department of Defense, classified agencies, intelligence agencies and Homeland Security related agencies. News and information are available at www.KratosDefense.com.
The Kratos Defense & Security Solutions, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3519
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, including risks related to general economic conditions and cutbacks in government spending. 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. 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 25, 2011, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Kratos Defense & Security Solutions, Inc.
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