SAN DIEGO, June 26, 2013 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, announced today that its Electronic Products Division was recently awarded a contract from a major healthcare and medical equipment provider for high power microwave amplifiers used in oncology therapy systems. The initial award has an approximate value of more than $6.0 million. Additionally, Kratos has also received an award for service and maintenance of the high power amplifiers to be provided with a minimum value of $12 million and a period of performance through 2022.
The high power microwave amplifiers to be delivered will be manufactured at Kratos' Herley Lancaster facility and are a critical element of these specialized oncology therapy systems. Initial deliveries of the equipment are expected to begin during the third quarter of this year.
Rich Poirier, President of Kratos' Electronics Product Division, said, "Kratos continues to execute on its strategy to apply proven products and technology in certain very specific commercial applications, and these contract awards are representative of the continued success of this initiative."About Kratos Defense & Security Solutions Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS) is a specialized National Security technology Company providing mission critical products, services and solutions for United States National Security. Kratos' core capabilities are sophisticated engineering, manufacturing and system integration offerings for National Security platforms and programs. Kratos' areas of expertise include Command, Control, Communications, Computing, Combat Systems, Intelligence, Surveillance and Reconnaissance (C5ISR), satellite communication systems, electronic warfare, unmanned systems, missile defense, cyber warfare, cyber security, information assurance, and critical infrastructure security. Kratos has primarily an engineering and technically oriented work force of approximately 4,100. The vast majority of Kratos' work is performed on a military base, in a secure facility or at a critical infrastructure location. Kratos' primary end customers are National Security related agencies. News and information are available at www.KratosDefense.com . Notice Regarding Forward-Looking Statements Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty, including risks related to product failure, general economic conditions and cutbacks in spending. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended December 30, 2012, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.
CONTACT: Press Contact: Yolanda White 858-812-7302 Direct Investor Information: 877-934-4687 email@example.com
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