Kratos Defense & Security Solut (NASDAQ:KTOS)

SAN DIEGO, Jan. 24, 2012 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, announced today that its Herley Industries, Inc. subsidiary has received multiple awards valued at $17.2 million for the production of specialty electronic products and components for a certain critical U.S. electronic attack platform. These awards, from an existing customer, are related to a continuing long term electronic attack and electronic warfare program, with the production of these specialized products involving two separate Herley secure manufacturing facilities. No additional details are being provided due to customer and other sensitivities.

Richard Poirier, Herley's President, commented, "These awards are the latest significant awards received from this prime contractor for Integrated Microwave Assemblies (IMA). Herley has participated on this program for many years and continues to be a valued supplier with the expertise capable of providing these sophisticated subsystems for this U.S. Navy aircraft."

SAN DIEGO, Jan. 23, 2012 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, announced today that it was awarded a prime contract to provide engineering and technical services for critical Command, Control, Communications, Computers, and Intelligence (C4I) Programs for the Space and Naval Warfare Systems Command (SPAWAR) Systems Center, Pacific (SSC PAC). Under the multi-year, multiple award contract, Kratos has the opportunity to compete to provide a variety of services and solutions including: Test and Evaluation (T&E) support, Independent Verification and Validation (IV&V), Configuration Management (CM), Software Quality Assurance (QA), and web site maintenance. The contract has a potential $40 million value and has a 12 month base period with four 12 month options.

"Kratos is pleased to have the opportunity to continue to support SSC-Pacific's mission. We are honored to assist SSC Pacific Code 532 in their efforts to ensure the quality of C4I products being operationally fielded," said Vic Wilson, Senior Vice President of Kratos' Engineering & Analysis Business Unit. 

Dave Carter, President of Kratos Defense Engineering Solutions, added, "SPAWAR and SSCPAC represent some of Kratos' valued, long-term customers. We're pleased to have the opportunity to continue to execute our strategy to expand our support for C4I systems throughout the U.S. Fleet."

SAN DIEGO, Jan. 3, 2012 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, announced today that it has acquired selected assets of a critical infrastructure security and public safety system integration business (the "Business") from a large international public company. The Business that Kratos has acquired is one of Kratos' Public Safety & Security (PSS) business unit's primary competitors across the United States. Kratos' PSS business has recently been generating both sequential and year over year organic revenue growth of approximately 20 percent. Similar to Kratos' PSS business, the Business that Kratos has acquired designs, engineers, deploys, manages and maintains specialty security systems at some of the United States' most strategic asset and critical infrastructure locations. Additionally, these security systems are typically integrated into command and control system infrastructure or command centers. Also similar to Kratos' PSS business unit, approximately 15 percent of the acquired Business' revenues are recurring in nature due to the operation, maintenance or sustainment of the security systems once deployed.

Ben Goodwin, President of Kratos' Public Safety & Security Division, said, "The acquisition of this critical infrastructure and security Business is a significant step for our PSS Division and all of Kratos. With this acquisition, we have essentially acquired one of our business' most formidable competitors and significantly expanded Kratos' PSS business capabilities, qualifications, customer relationships, contract portfolio and geographic depth and breadth. Together, the combined business will be one of the largest and most capable critical infrastructure security system integrators in the industry, with the scale and wherewithal to bid on and pursue some of this country's largest, most sophisticated and important security deployments. Also very importantly, the Business we have acquired has previously been awarded a multi-year security system deployment at one of our country's highest profile locations, with a potential future value of tens of millions of dollars, which provides added confidence in the success of this Business going forward."

For 2012, the acquired Business is expected to generate at least $35 to $45 million in revenue and at least $4 to $5 million in Adjusted EBITDA, after the realization of expected cost savings and synergies. The acquired Business has over $20 million in customer accounts receivable and approximately $18 million in working capital. Kratos will also receive a tax benefit from the acquisition. The purchase price paid by Kratos for the Business is $20 million in cash, subject to potential adjustment for working capital at closing, and the purchase agreement contains standard and typical indemnifications and other provisions. The acquisition is expected to be accretive to Kratos.

SAN DIEGO, Dec. 1, 2011 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, was awarded a contract N61340-12-D5116 LOT I for the Naval Air Warfare Center Training Systems Division's (NAWCTSD) Training Systems Contract III (TSC III) Multiple Award Contract (MAC). The TSC III MAC, inclusive of all awarded contracts and ordering periods, has a not-to-exceed value of $2,000,000,000. All delivery orders will be placed pursuant to the procedures at FAR 16.5.