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SAN DIEGO, Oct. 03, 2019 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, announced today that it has recently received a single award prime contract, for up to 33 Oriole Rocket motors, including Options. Kratos has exclusive rights to sell Oriole Solid Propellant Rocket Motors (SPRMs) for specific market areas, including Missile Defense Threat Representative Targets, Suborbital Research and Sounding Rockets. Kratos leverages its exclusive rights agreement to deliver Rocket Motors, Systems, Products and Solutions for Missile Defense, Hypersonics, Weapon System Research and other mission critical National Security areas.
Kratos Defense & Rocket Support Services (DRSS) Division, which received this recent contract award, is a leading provider of products and solutions in support of ballistic missile targets, hypersonic systems, sub orbital research, sounding rockets, directed energy and laser programs and systems. Work under this recent contract award will be performed at a secure Kratos facility and vendor locations. Due to competitive, customer related and other considerations, no additional information will be provided related to this contract award.
Dave Carter, President of DRSS, said, “Certain of Kratos’ most valuable assets, in which we have made significant investments over the past several years, include our intellectual property ownership and related license agreements, which provide Kratos sole source, single source or differentiating competitive positions. Kratos is committed to providing U.S. Government Agencies and other customers with rapidly developed, demonstrated and fielded affordable technology leading systems to address their missions and requirements. This relationship and recent contract award through which DRSS will support up to 33 target, hypersonic or other missions is a key element of our business units future growth plans."
Eric DeMarco, President and CEO of Kratos Defense & Security Solutions, said, “The Navy / Kratos partnership with Kratos proprietary Oriole Solid Rocket Motor Systems has enabled successful launches of a wide-range of sub-orbital vehicles including; ballistic missile targets, hypersonic payloads and NASA science tests. We are currently in pursuit of additional hypersonic program opportunities as the lead prime contractor with this flight proven leading technology system. Kratos will continue to invest in products and technology that enhance our proprietary offerings related to sub-orbital missions, including Kratos Turbine Technologies, which is working with certain government customers in the air breathing hypersonic propulsion area.”
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, 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 30, 2018, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.