Kratos Receives $7.3 M Sole Source Award to Provide Spares for the AFSAT

Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, announced today that its subsidiary, Composite Engineering, Inc. (CEI), has received a $7.3 million sole source, indefinite delivery/indefinite quantity (IDIQ), firm fixed price contract to procure 54 peculiar reparable spares for the Air Force Subscale Aerial Target (AFSAT) BQM-167. The contract permits orders to be placed from the date of award through November 30, 2013, with up to four orders per calendar year. An initial delivery order, valued at $1.8 million, was placed along with the contract award. First deliveries will begin in January 2013, with the last parts delivered in November 2014.

Frank Cina, Sr. Vice President and General Manager of CEI, said, "This contract is an important milestone for both CEI and our U.S. Air Force customer. We are pleased to continue our on-going effort for this key strategic program and deliver mission critical equipment to the war fighter."

Source: Kratos
Date: Oct 15, 2012