Kratos Team Receives Option Award to Support International Weapon Systems

Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, announced today that its Defense and Rocket Support Solutions (DRSS) Division, a significant subcontractor team member supporting international weapon systems, has recently received a contract option award in support of certain foreign allied militaries. After successfully completing the contract award base year, the Kratos team received the option year award of $17M, which increased the total contract award potential to $34M. This is a recent increase in base contract scope and value and the first option awarded under this previously undisclosed major contract award on which Kratos is performing a critical and significant role in a key subcontractor position. Kratos has unique qualifications and capabilities related to these currently deployed weapon systems, with the work Kratos is providing under this contract being performed at secure Kratos operations facilities and at military facilities and installations. Due to certain customer related considerations and the nature of the work Kratos is performing, no additional information is being provided related to this contract award.

Dave Carter, President of DRSS, said, „We are proud to have received the first option year award under this contract with our prime partner in support of our end customers’ weapon systems and related platforms. The support of United States foreign allies’ weapon systems is an important and growing area of work for our business, and together with our prime partner we are committed to extending the life cycle of these systems and providing value to our international customers.”

Source / Author: Kratos