Kratos Awarded $12 Million Contract to Provide Satellite Command and Control System Products and Sustainment
SAN DIEGO, Nov. 24, 2021 (GLOBE NEWSWIRE) — Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a leading National Security Solutions provider, announced today that it has received a delivery order valued at $12 million for satellite and communication system products, hardware and equipment. This is against a previously awarded contract.
This award is for mission activity and maneuver planning, telemetry processing, commanding, orbit and attitude management, resource management, space vehicle and ground system simulation, security, support planning and execution, training and testing. The award will enable and sustain new capabilities such as virtualization, additional satellite constellation capacity and cybersecurity enhancements. Satellite state-of-health operations include launch, early orbit, on-orbit, anomaly resolution, disposal, and backup operations.
“Kratos continues support to the U.S. military with products and tailored solutions for protected, resilient military satellite operations,” said Phil Carrai, President of the Kratos Space, Training and Cyber Division. “During this time of increasingly congested and contested space operations, Kratos is uniquely able to provide a mix of cutting-edge technical solutions, products and services to support mission-specific requirements of defense applications.”
Eric DeMarco, Kratos President and CEO, said, “Kratos’ strategy is to be a disruptive change agent to the national security industry by rapidly providing first to market, affordable, leading technology systems, products and solutions to our customers. Kratos OpenSpace satellite ground system products and our global, Kratos-owned and operated space domain awareness system are uniquely positioned to address the large and growing space and satellite market opportunity, including a large and growing total addressable market and the forecast tens of thousands of additional government and commercial satellites expected to be placed in orbit by the end of the decade.”
Due to customer related 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. 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.
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