Kratos Receives $11M Development Contract for Next Generation Satellite Program

Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a leading National Security Solutions provider, announced today that Kratos’ Microwave Electronic Products Division (KMED) has recently received a development contract award related to a new planned next generation satellite program.  KMED is a leading provider of microwave products, subsystems and components for missile, radar, missile defense, guided munitions, space and satellite communications and other communications systems and programs.  Work under this new contract and program award will be performed at secure Kratos facilities in Israel.  Due to customer related, competitive and other considerations, no additional information will be provided related to this new opportunity.

Yonah Adelman, President of KMED, said, “Our entire organization is excited and proud to have been selected to participate in and support this new space and satellite related program opportunity, which ultimately has the potential to be very significant to our business. We are both seeing and pursuing additional new opportunities like the one we are reporting on today, and we are positioning the business to become qualified, designed in on and support additional programs both here in Israel and internationally.“

Eric DeMarco, Kratos’ President and CEO, said, “Yonah and his team’s new contract award is representative of the significant number of new program opportunities, including development programs, Kratos has successfully recently competed for and received across our Company.  As we head into 2021, we are pursuing a number of additional new opportunities and we will be making the appropriate investments to both successfully capture and execute on our exciting and growing program portfolio, positioning Kratos for sustained long term growth as these programs achieve expected production status.”

Source: Kratos Defense & Security Solutions
Date: Jan 4, 2021