SEE HOW THEY WORK TOGETHER
Mikros Systems Corporation (OTCBB: MKRS), Princeton, New Jersey, December 1, 2005 — Mikros Systems Corporation is pleased to report the results for the quarter ended September 30, 2005. The revenues for the nine months ended September 30, 2005 were $1,236,679 with net income of $101,894 compared to revenues of $ 724,820 for the same period in 2004 and net income of $124,513. Net income for the nine months ended September 30, 2004 included the write-off of certain of our obligations valued at approximately $67,000.
During this period the Company has accepted delivery of the first Adaptive Diagnostic Electronic Portable Testset (ADEPT-AE) production unit from DRS Laurel Technologies in Johnstown, Pennsylvania.-* This is the first of five production units being delivered to Mikros for field testing by the U.S. Navy. (Note:-* The MFDAT Equipment has been renamed ADEPT).
This unit was unveiled at-* the Autotestcon Show, the premier military test equipment show in Orlando, Florida held in September 2005.-*
Also, during this period Mikros completed work on the Radar Wireless Spectral Efficiency (RWSE) Phase I contract which addresses the coexistence on Navy ships of radars to control systems and commercial WIFI equipment.-* Mikros has submitted a proposal to the Navy for a Phase II effort to continue this study-* and suggest products or solutions for the U.S. Navy.
Mikros relocated its engineering headquarters from Conshohocken, Pennsylvania to Fort Washington, Pennsylvania.-*-*-* These larger offices will enable the Company to expand and to increase its technical staff growth.
The public is encouraged to view the Mikros website (www.Mikros.us) for further information and updates on the Company.
Mikros Systems Corporation is a high technology company focused upon the development and application of new technologies in the defense industry and commercial markets.-*
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.