Market Overview

Kratos Receives $32.8M US Air Force Sole Source Award

Kratos Defense & Security Solutions (NASDAQ: KTOS) announced today that its subsidiary Composite Engineering, Inc. (CEI) received a $32.8 million sole source option award to provide 28 BQM-167A Air Force Subscale Aerial Targets (AFSAT), as well as twelve additional months of logistics and technical support, to the AFSAT Program Office.  Early deliveries may commence in late 2013, and the last delivery will occur no later than mid-2015. The option award is the last and final delivery of the AFSAT Lots 6-10 effort.

Glenn Wells, Sr. Vice President and General Manager of CEI, said, "We are excited to provide these targets and services to the USAF as we prepare to support the upcoming AFSAT Lots 11-15 sole source procurement. We are honored to provide products that enable the USAF Aerial Targets Program Office to utilize reliable and realistic targets that help hone the skills of our military pilots and aircrew." 

Richard Selvaggio, President of Kratos' Unmanned Solutions Systems division, commented, "The USAF is one of the most technologically advanced and sophisticated air forces in the world, and we continue to supply leading edge potential adversary threat representation to them. CEI is a fully integrated aerial vehicle and drone manufacturer, from

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Posted-In: Earnings News Guidance Management M&A Global

 

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