SEE HOW THEY WORK TOGETHER
Princeton, NJ /GlobeNewswire/January 22, 2009 – (Fort Washington, PA: OTCBB MKRS) As we begin this New Year, Mikros Systems Corporation would like to take the opportunity to provide you with a preliminary business outlook for 2009.
We are continuing to position Mikros as a leading engineering and systems integration firm in the areas of electronics, communications, and wireless technologies. The defense and homeland security markets will continue to be our strategic focus.
We continue to maintain a healthy cash position, with essentially no debt. In the coming year, we will concentrate on building backlog and increasing revenues. We intend to accomplish this by securing long-term contracts for our key programs and continuing our past successes in winning Small Business Innovative Research (SBIR) contracts. We are also positioning the company for subcontracting opportunities with several well-established industry leaders.
Over the past year, our ADEPT product has gained widespread customer acceptance. We have completed several detailed technical reviews, and the product is currently being delivered to US Navy ships as part of the Navy’s Cruiser and Destroyer Modernization efforts. With a proven ability to increase readiness, and future applications in shipboard self-protection and ballistic missile defense, we anticipate entering into a multiple-year production and support contract in this calendar year.-* We are currently developing additional features for ADEPT, including new versions for other Navy equipment, other ship classes, and a distance support capability that will be demonstrated during the Navy,Aeos annual Trident Warrior exercise in 2009. -*
Preliminary development of the interference-aware network planning tool, AIRchitect-EMC, is nearing completion.-* This tool has already been used to help plan wireless network installations aboard US Navy LHD class ships and to complete a wireless network study for future US Navy carriers. We expect that this business will expand in the coming year, as the interest of the Navy,Aeos electromagnetic compatibility experts in our AIRchitect-EMC tool continues to increase and more ships are targeted for future wireless network installations.-* Our goals over the next year include securing a long-term Indefinite-Delivery, Indefinite-Quantity (IDIQ) contract to sustain development activities and application support for this tool.-*
Our engineers are also working with Navy mission planners and warfare analysts to assess vulnerability of tactical data links to hostile jammers. A modeling tool is being developed and could result in future contracts to extend this effort in support of larger defense mission planning initiatives. This project draws from experience gained during our initial electromagnetic interference SBIR efforts, and again demonstrates our success at transitioning innovative engineering analysis contracts into full-scale, long-term programs and products.
We continue to support our business partners with engineering and systems integration expertise. Last year, we solidified an agreement to jointly develop Ericsson,Aeos cellular communication technologies for defense and homeland security applications and plan to focus on delivering solutions in the coming year.-* We also expanded our relationship with Ocean Power Technologies, an alternative energy company, by jointly producing and demonstrating a small-diameter prototype energy-harvesting buoy powered by waves. This buoy generated enough energy to power integrated communications devices, transmitting data wirelessly back to a monitoring platform. Mikros and OPT have recently submitted proposals to extend this research and development project into important surface and undersea warfare applications for our Navy customers. We expect to see increasing customer interest and activity in this business in 2009.
During 2009, we will take important steps to improve our stakeholder communications and marketing activities. These efforts will include the development of a new more comprehensive website. We remain committed to distributing timely press releases to inform our shareholders of important company events and will increasingly use other communication tools, such as the website, shareholder letters, and conference calls, to explain strategic business objectives and other plans for our growing organization.
We believe our steady growth management practices of the past few years coupled with the exciting emerging opportunities for 2009 position our company well for the future. It is with great optimism that all of us at Mikros Systems Corporation wish you a happy and prosperous New Year.
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, combat/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 visit: www.mikros.us
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 the forward-looking statements. Such factors include, but are not limited to, changes in business conditions, 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, statements of assumption underlying any of the foregoing, and other factors disclosed in our annual report on Form 10-KSB for the year ended December 31, 2007 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 to reflect events or circumstances after the date hereof.