Kratos Receives $38 M in Unmanned Systems Contract Awards

Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, announced today that its Unmanned Systems Division (KUSD) has recently received approximately $38 million in high performance unmanned aerial  drone aircraft, systems, and related product contract awards.  KUSD is a leading provider of affordable high performance unmanned aerial threat representation target drone systems and tactical drone systems for force augmentation, multiplication, distributed lethality, anti-access/area denied environment survivability and other missions.  KUSD is also a leading provider in unmanned ground and unmanned seaborne systems, and command, control and communication systems.  Work under these recent contract awards will be performed at secure Kratos manufacturing facilities and customer locations.  Due to customer related, competitive, and other considerations, no additional information will be provided related to these contract awards.

Steve Fendley, President of Kratos Unmanned Systems Division, said, “KUSD is a leader in the rapid development, demonstration, and fielding of certain of the highest performance unmanned aerial drone systems in the world at an affordable cost, and these recent contract awards demonstrate Kratos’ positioning as having the right products at the right price points to address our customers’ mission and budgetary requirements.”

Eric DeMarco, President and CEO of Kratos, said, “Since 2013 we have been making significant internally funded investments in KUSD to develop and own the intellectual property in a suite of high performance unmanned aerial drone aircraft and systems, which is now generating significant returns via long term, multi-year program and contract awards.  As a result, production is now beginning on several new programs and increasing on existing programs, and with our significant KUSD internal investments expected to be complete in the second half of this year, we are forecasting increased revenues, profitability and cash flow.”