Mikros Systems Announces New Delivery Order for Worldwide Navy Training Efforts

Princeton NJ, 09 May 2017:  Mikros Systems Corporation (OTCQB: MKRS) announced today that it has received a new delivery order from the Navy to provide training services for its ADEPT® product line at Navy facilities worldwide.

Mikros produces advanced maintenance systems for the Navy, including the ADEPT (Adaptive Diagnostic Electronic Portable Testset) Maintenance Automation Workstation and the ADSSS® (ADEPT Distance Support Sensor Suite) Condition Based Maintenance (CBM) system.

The new award is the fourth delivery order under Mikros’ $35 million Indefinite Delivery Indefinite Quantity (IDIQ) contract and covers continuing training of Navy sailors in the use of the Company’s ADEPT system. Mikros has been providing ADEPT training at Navy bases around the world for the past decade. The Company’s Manufacturing and Depot Center, in Largo FL, is staffed largely by Navy veterans who provide training and other logistics support for over 200 ADEPT systems in the field. This award provides the latest funding increment to continue this training. The next training sessions are currently planned for Norfolk, VA and Pearl Harbor, HI.

“This award enables Mikros to deliver high quality training for ADEPT users in the fleet,”  said Austin Hartley, Mikros’ Operations and Training Lead in Largo.  “Providing training at Navy waterfront locations allows us to train sailors in a relevant and timely fashion.”

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Mikros Systems Corporation is an advanced technology company specializing in the development and production of electronic systems for advanced maintenance in military, industrial and commercial 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.  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, our ability to market our solutions to commercial customers, numerous other matters of national, regional and global scale, including those of a political, economic, business and competitive nature, 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, 2016 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