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Kratos Awarded $18 Million Contract For Municipal Transportation Security And Surveillance System

Stocks in this article: KTOS

SAN DIEGO, Jan. 17, 2013 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc.(Nasdaq:KTOS), a leading National Security Solutions provider, announced today that it has received an $18 million single award contract to design, engineer and deploy a specialty security system for one of the largest municipalities in the United States, located in the Northeast. The security system, which will include hundreds of mobile surveillance cameras, will provide critical infrastructure security for a large transportation network and will be integrated into a command and control system. Due to customer specific, security related and other considerations, no additional information will be provided relative to this contract award.

Ben Goodwin, President of Kratos' Public Safety and Security division, said, "The award to Kratos of this major critical infrastructure security deployment is representative of the professionalism of every member of the Kratos PSS Team, the outstanding job they are doing serving our customers and their outstanding reputation in the industry. Kratos PSS customers are security and safety oriented, being primarily Critical Infrastructure, Strategic Asset, Transportation, Energy, Education, Healthcare or Financial in nature, and are typically not funded by the U.S. Federal Government. Kratos' PSS division has recently been generating organic growth of approximately 20 percent, and this significant municipal transportation security contract award is an outstanding way for our organization to begin 2013."

Eric DeMarco, President and CEO of Kratos, said, "Strategically, Kratos has been focused on building our non U.S. Government or DoD security business over the past few years and diversifying our overall customer base, and Kratos' PSS business is representative of the successful execution of this strategy, representing approximately 20 percent of Kratos' overall annual revenues. Additionally, we have internally been working a new initiative where Kratos' cyber security business, with its proprietary software products and solutions, is now being offered to our PSS critical infrastructure customers in addition to our traditional National Security Agency customers, and we have recently been awarded our first significant cyber related contract in this area."

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