Mikros Announces $11.5 Million Engineering and Technical Support Delivery Order for ADEPT® Program

Princeton NJ, March 9, 2017: Mikros Systems Corporation (OTCQB: MKRS) announced today that it has received a three-year $11.5 million order from the U.S. Navy for engineering and technical support of its ADEPT maintenance workstation. The award is the second Delivery Order issued under Mikros’ Indefinite Delivery Indefinite Quantity multi-year $35.1 million contract with the Naval Surface Warfare Center in Crane, IN.

The order covers engineering services to provide product support, systems engineering, increased capabilities and upgrades to the more than 200 ADEPT systems currently deployed by the United States Navy. This order will run through 2020. Navy cruisers and destroyers use ADEPT to help maintain and optimize the performance of advanced radars, including the AN/SPY-1 phased array radar used by the Aegis combat system.

“This order enables Mikros Systems to continue delivering advanced capabilities to the warfighter” said Chuck Bristow, Mikros Chief Operating Officer.  “It will also provide a pathway to increased ADEPT adoption into additional combat systems and ship classes.  We look forward to continuing to work with our Navy customer to improve and expand the capabilities of our ADEPT system.”

Mikros Systems maintains an engineering and development facility in Fort Washington, Pennsylvania, and a manufacturing and depot center in Largo, Florida.

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Mikros Systems Corporation is an advanced technology company specializing in the research and development of electronic systems technology primarily for military applications.  Classified by the U.S. Department of Defense as a small business, its capabilities include technology management, electronic systems engineering and integration, radar systems engineering, command, control, communications, computers and intelligence systems engineering, and communications engineering.  Mikros’ primary business is to pursue and obtain contracts from the Department of Homeland Security, U.S. Navy, and other governmental authorities.  For more information on Mikros, please visit: www.mikrossystems.com.

 

Source: Mikros Systems Corporation

 

CONTACT:  Thomas J. Meaney – (609) 987-1513

 

Important Information about Forward-Looking Statements

 

All statements in this news release other than statements of historical facts are forward-looking statements which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as “anticipates,” “believes,” “could,” “expects,” “intends,” “may,” “should” and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Such statements are not guarantees of future performance or events and are subject to known and unknown risks and uncertainties that could cause the Company’s actual results, events or financial positions to differ materially from those included within or implied by such forward-looking statements. Such factors include, but are not limited to, changes in business conditions, a decline or redirection of the U.S. Defense budget, significant delays or reductions in appropriations for our projects,  the termination of any contracts with the U.S. Government, changes in our sales strategy and product development plans, changes in the marketplace, continued services of our executive management team, our limited marketing experience, competition between us and other companies seeking SBIR grants, competitive pricing pressures, market acceptance of our products under development, delays in the development of products, our ability to adequately integrate our new software offerings into our business model, statements of assumption underlying any of the foregoing, and other factors disclosed in our annual report on Form 10-K for the year ended December 31, 2015 and other filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, we undertake no obligation to disclose any revision to these forward-looking statements.

 

 

Mikros Systems Corporation, 220 Commerce Drive Suite 300, Fort Washington, PA 19034 Phone 215.371.3913