Research News and Market Data on KTOS
February 6, 2024 at 9:00 AM EST
SAN DIEGO, Feb. 06, 2024 (GLOBE NEWSWIRE) — Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a Technology Company in the Defense, National Security and Global Markets and an industry-leading provider of high-performance, jet-powered unmanned aerial systems, recently welcomed U.S. Senator Gary Peters (D-MI) and U.S. Representative Lisa McClain (R-MI-9) to Technical Directions Inc. (TDI) headquartered in Oxford, Michigan, to showcase Kratos’ family of affordable turbine engines and turbogenerators.
Steve Fendley, President of Kratos Unmanned Systems Division, said, “TDI’s engines are a key enabler for producing small cruise missile and loitering munitions in mass, thanks to our laser-focus on manufacturability for scale with an incredibly high performance-to-cost ratio. These characteristics mirror the Kratos’ corporate strategy, but more importantly, provide a U.S. designed, manufactured, integrated, and tested affordable small-thrust-class turbine engine solution which has effectively been unachievable from U.S. manufacturers in recent years. We’re very proud of the products we’ve developed and proud to be growing in Michigan where we are able to leverage the deep experience of the automotive industry. We appreciate the opportunity to show them firsthand to Sen. Peters and Rep. McClain.”
Sen. Peters, Rep. McClain visit TDI is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/758519ef-b746-4f81-987e-de7ec470115d
TDI has developed and refined turbine engine technologies for military applications in Michigan since 1983—providing unique features in support of low-cost, high-production, expendable turbojet engine applications, such as small cruise missiles and other Unmanned Aerial Vehicles (UAVs). With the engineering, manufacturing, and system integration employees in the Oxford, Michigan facility, TDI’s subject matter experts leverage Michigan’s deep automotive expertise and apply it to the defense sector and have experience that encompasses all aspects of this turbine engine class, from clean-sheet design, through performance testing, vehicle integration, flight testing, and production manufacturing. By making its own internally funded investments that are not tied to any specific customer or budget process, TDI is able to rapidly develop and be first to market with its engines.
TDI-J85 Engine is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/7d84c68c-4793-48bb-8561-7f7cab2063ec
In 2023, Kratos received a $9 million contract award from the Department of Defense that, in addition to current and near-term program plans, is expected to rapidly increase TDI’s job, capability, and capacity growth trajectories, and advance TDI’s work bringing small engine turbine manufacturing back to the U.S. with the production rate and cost levels to support the DoD’s affordable mass needs of today and tomorrow.
Senator Peters, a member of the Senate Armed Services and Appropriations Committees, said, “Michigan defense manufacturers excel at producing innovative solutions to our most pressing national security challenges, and Kratos and the TDI team here in Oxford are a key partner in that success. It was great to see firsthand the important work they are doing to build the next-generation of defense technologies that protect our men and women in uniform, and to celebrate this new contract that will support Michigan-made products and jobs.”
“Touring the Kratos TDI facility this morning was a terrific experience that gave me a first-hand perspective of the work that goes into creating turbine engines and turbogenerators,” said Representative McClain. “I am proud that Kratos continues to call Oxford home, and I am excited to see their impact in the community grow throughout this year and beyond.”
About Kratos Defense & Security Solutions, Inc.
Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) is a technology, products, system and software company addressing the defense, national security, and commercial markets. Kratos makes true internally funded research, development, capital and other investments, to rapidly develop, produce and field solutions that address our customers’ mission critical needs and requirements. At Kratos, affordability is a technology, and we seek to utilize proven, leading-edge approaches and technology, not unproven bleeding edge approaches or technology, with Kratos’ approach designed to reduce cost, schedule and risk, enabling us to be first to market with cost effective solutions. We believe that Kratos is known as an innovative disruptive change agent in the industry, a company that is an expert in designing products and systems up front for successful rapid, large quantity, low-cost future manufacturing which is a value add competitive differentiator for our large traditional prime system integrator partners and also to our government and commercial customers. Kratos intends to pursue program and contract opportunities as the prime or lead contractor when we believe that our probability of win (PWin) is high and any investment required by Kratos is within our capital resource comfort level. We intend to partner and team with a large, traditional system integrator when our assessment of PWin is greater or required investment is beyond Kratos’ comfort level. Kratos’ primary business areas include virtualized ground systems for satellites and space vehicles including software for command & control (C2) and telemetry, tracking and control (TT&C), jet powered unmanned aerial drone systems, hypersonic vehicles and rocket systems, propulsion systems for drones, missiles, loitering munitions, supersonic systems, space craft and launch systems, C5ISR and microwave electronic products for missile, radar, missile defense, space, satellite, counter UAS, directed energy, communication and other systems, and virtual & augmented reality training systems for the warfighter. For more information, visit www.KratosDefense.com.
Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended December 25, 2022, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.
Press Contact:
Yolanda White
858-812-7302 Direct
Investor Information:
877-934-4687
investor@kratosdefense.com
Source: Kratos Defense & Security Solutions, Inc.