Kratos Receives $3.3 Million Sole-Source Contract for Production of Jet Drone Target Aircraft and Related Systems

About this update from Kratos Defense & Security Solutions, Inc.

SAN DIEGO, Oct. 11, 2019 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, announced today that its Unmanned Systems Division has been awarded a $3.3 million contract for 10 production jet target drone aircraft and related systems. This order represents a periodic recurring need/request for Kratos’ target systems as part of a multi-year basic ordering agreement with this key international customer. Kratos is a leading provider of high performance unmanned aerial drone systems for threat representative target missions to exercise weapon, radar, and other systems; and tactical aerial drone systems for strike/ISR and force multiplication missions. Work under this contract award will be performed primarily at the Kratos Unmanned Systems Division production facilities in Oklahoma City, Oklahoma. Due to competitive, customer related and other considerations, no additional information will be provided related to this new contract award. Steve Fendley, President of Kratos’ Unmanned Systems Division, said, “As our Oklahoma City facility has established and ramped up production capability based on our forecasts, these recurring production orders validate our planning and enable the “machine” to be in full swing. We are excited to increase our production rates in Oklahoma City, and are fully committed to supporting our international customer base in addition to our domestic customers.” About Kratos Defense & Security SolutionsKratos 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 StatementsCertain statements in this press release may constitute "forward-looking statements" with...

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