SAN DIEGO, Oct. 15, 2007 (PRIME NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS) (formerly Wireless Facilities, Inc.) (Nasdaq:WFII), a leading national defense and security solutions provider, announced today that its Huntsville office (formerly Madison Research Company) has been awarded a prime contract for the maintenance and sustainment of the Command Management System (CMS) by the U.S. Air Force, 554 Electronic System Group (ELSG). The ELSG is part of the Air Force Materiel Command (AFMC) at Wright-Patterson AFB, Ohio. The contract is valued at approximately $5.2 million over a one year base period and four option years.
"This contract win comes at an opportune time as we seek to expand our presence within the Air Force in general and at Wright-Patterson Air Force Base specifically," said Robin Mickle, president of Kratos Government Solutions, Inc. "We have provided local support to Wright-Patterson since 2002, and look forward to the continued support of our AFMC clients."
As a part of the contract, Kratos will provide Operations and Support (O&S) as well as software design, development, and implementation services for CMS functionality refinements. Support for this contract will be performed primarily at Kratos facilities in Beavercreek, OH, adjacent to Wright-Patterson AFB. This group within Kratos has a focused management and delivery team positioned to support the AFMC mission throughout the Air Force.
CMS is an Oracle-based system that supports AFMC's planning, programming, budgeting and execution (PPBE) process for producing a Program Objective Memorandum (POM) submission. The AFMC Commander uses CMS as a tool to increase the productivity of the personnel assigned to prepare these plans and budgets and to increase their accuracy. CMS has a user base of over 1,300 planners, budget analysts, panel planners, and program managers geographically scattered across the United States.
About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS) provides mission critical engineering, IT services and war fighter solutions for the U.S. federal government and for state and local agencies. Principle services include C4ISR, weapon systems lifecycle support, military weapon range and technical services, network engineering services, advanced IT services, security and surveillance systems, and critical infrastructure design and integration. The Company is headquartered in San Diego, California, with resources throughout the U.S. and in key strategic military locations. News and information are available at www.KratosDefense.com.
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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 anticipated filing of its delinquent SEC reports, future financial performance and cash flows and market developments that involve risks and uncertainties. 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 recent divestitures and change in business focus will cause disruption of the Company's operations and distraction of its management; risks that the company's name change will cause disruption to individual and/or institutional shareholders; risks of adverse regulatory action or litigation; risk that the Company's lender will declare a default under the Company's line of credit; 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 31, 2006, the Company's Quarterly Reports on Form 10-Q for the periods ended March 31, 2007 and June 30, 2007, and in other filings made with the Securities and Exchange Commission.