SAN DIEGO, Aug 16, 2010– Kratos Defense & Security Solutions, Inc., a leading National Security Solutions provider, recently entered into a proprietary multi-million dollar contract agreement to enhance and expand current capabilities of certain military related renewable energy systems by significantly increasing their capacity for alternative power generation. Utilizing our advanced technology research and development initiatives, we have been able to substantially increase efficiencies in our renewable energy products. Our solutions provide the latest technology in efficient modules to supply a renewable alternative energy source supporting certain military communications and other military applications.
“We are very pleased that our renewable energies research and development led to this multi-million dollar contract award,” said Richard Selvaggio, President of Kratos’ Weapon Systems Solutions. “We continue to see an increased need in military renewable energy applications and have leveraged our current expertise in this area to other application research and development initiatives.”
About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. /quotes/comstock/15*!ktos/quotes/nls/ktos (KTOS 9.80, -0.06, -0.61%) provides mission critical products, services and solutions for United States National Security. Principal products, services and solution offerings relate to and support C5ISR, weapon systems sustainment, military weapon range operations and technical services, network engineering services, information assurance and cyber security solutions, security and surveillance systems, and critical infrastructure security system design and integration. The Company is headquartered in San Diego, California, with resources located throughout the U.S. and at key strategic military locations. News and information are available at www.KratosDefense.com.
Notice Regarding Forward-Looking Statements
This news release contains certain forward-looking statements including, without limitation, expressed or implied statements concerning the Company’s expectations regarding the amount of revenue that will ultimately be recognized under the contract described in this release. Such statements are only predictions, and the Company’s actual results may differ materially. Factors that may cause the Company’s results to differ include, but are not limited to: risks that the customer will curtail or delay the work under the contract; risks of adverse regulatory action or litigation; risks associated with debt leverage; risks that changes or cutbacks in spending by the U.S. Department of Defense may occur, which could cause delays or cancellations of key government contracts; and failure to successfully consummate acquisitions or integrate acquired operations and competition in the marketplace which could reduce revenues and profit margins. The Company undertakes no obligation to update any forward-looking statements. These and other risk factors are more fully discussed in the Company’s Annual Report on Form 10-K for the period ended December 27, 2009, the Company’s Quarterly Report on Form 10-Q for the period ended June 27, 2010, and in other filings made with the Securities and Exchange Commission.