Benzinga | Nov 30, 2021 04:44PM EST

Kratos Receives Initial Approximate $4M In Single Award Funding On New C5ISR Program Award With Total Potential $75M Program Value

Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS), a leading National Security Solutions provider, announced today that it has received the initial, approximate $4 million in funding on a new, single award, Command, Control, Communication, Computing, Combat System, Intelligence, Surveillance & Reconnaissance (C5ISR) program, with a total potential program value of approximately $75 million, including production. Kratos C5ISR Business is an industry leader in products, systems and solutions supporting unmanned aerial vehicle, space & satellite communications, missile, radar, missile defense, high power directed energy, CBRNE and other C5ISR platforms and systems for national security programs of the United States and its allies. Work under this new program award will be performed at secure Kratos production and manufacturing facilities. Due to customer, competitive, security related and other considerations, no additional information will be provided related to this program.

Tom Mills, President of Kratos C5ISR Division, said, "The recapitalization of strategic weapon systems to address peer threats to the United States and its allies is driving strong demand for Kratos products and systems, including as related to unmanned aerial systems, satellite communications and missile and radar systems. We are honored to have received this award from this critical national security related customer."

Eric DeMarco, President and CEO of Kratos, said, "Kratos is making the internally funded investments required to address our national security customers' most important and time sensitive requirements, with rapid development and fielding of systems that are technologically advanced and relevant to today's environment. We believe that this new, sole source award is representative of Kratos' - listen to the customer, make the investment and provide the solution - organic growth approach."