updated 9/14/2010 12:46:06 PM ET 2010-09-14T16:46:06

SAN DIEGO, Sept. 14, 2010 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, has been awarded an approximate $2 million dollar safety and fire control integration contract for a Natural Gas Turbine Power Generation Plant by a large international, independent power producer. Under the contract, Kratos' Public Safety and Security (PSS) business will provide a safety and fire control system and system integration services for a new natural gas energy facility. Among other elements, Kratos will be designing, installing and integrating a Life Safety/Fire Alarm Network that will incorporate seven Nodes, multiple FM-200 Special Hazards Fire Suppression System Units and a deluge fire protection system, all of which will be integrated into a central command and control system.

"This award reflects the recognition of the deep experience which Kratos has in the installation of these systems for the Natural Gas Turbine market and is an indicator of our customer's confidence in our ability to satisfy their needs in such a critical area," said Ben Goodwin, President of Kratos' Public Safety and Security division. "I am very pleased with Kratos selection as the contractor for this segment of the market. The Natural Gas Turbine, Power Generation and Transport market represents a significant and expanding growth opportunity for Kratos, and our experience positions us well to take advantage of these opportunities." 

Eric DeMarco, Kratos' President and Chief Executive Officer, said, "We believe that the industrial security and energy generation and power markets are potential growth areas for Kratos' PSS business. Additionally, over the past several months we have seen a number of new opportunities for Kratos' PSS business, and we are continuing to assess new or opportunistic tactical and strategic initiatives to accelerate growth, profitability and market share in the homeland security, public security and public safety market areas."

About Kratos Defense & Security Solutions

Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS) 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 .

The Kratos Defense & Security Solutions, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3519

Notice Regarding Forward-Looking Statements

This news release contains certain forward-looking statements that involve risks and uncertainties, 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; 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.

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved


Discussion comments


Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 3.79%
$30K home equity loan FICO 4.99%
$75K home equity loan FICO 4.69%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.83%
Cash Back Cards 17.80%
Rewards Cards 17.18%
Source: Bankrate.com