PRINCETON N.J., April 11, 2017 /PRNewswire/ -- Mikros Systems Corporation (OTCQB: MKRS) announced today that it has received a $1.5 million contract from the U.S. Navy to extend the capabilities of the ADSSS Condition-Based Maintenance (CBM) system to support a fourth Navy radar system, the MK 99.
The Mikros ADSSS system is an advanced network-based remote monitoring and maintenance system which collects performance data in real-time and uses it to detect and predict failures. ADSSS is used on the Navy's Littoral Combat Ship (LCS) to monitor two different radars and other combat system elements. Under this new contract, Mikros' condition based maintenance, or CBM technology, will, for the first time, be used in the Navy's Aegis surface combatant fleet.
"We're excited to take the technology we developed for the LCS fleet and apply it to other combat system elements for Aegis," said Mikros Program Manager Jason Hodge. "The Aegis folks have been using our portable ADEPT system for planned maintenance on the SPY-1 radar over the past few years. This contract will allow us to expand the benefits of predictive maintenance provided by our ADSSS system to the MK 99 radar system aboard the Aegis class."
The program will apply both model-based Prognostics Framework technology to detect and predict failures on each ship, and big data predictive analytics on-shore to analyze data from all ships and detect large-scale trends and patterns.
"This order extends our ADSSS prognostics capabilities to the Aegis ship classes," said Chuck Bristow, Mikros Chief Operating Officer. "It also provides a means to establish common data collection and analysis tools across the fleet. We look forward to expanding ADSSS capabilities to even more ship classes in the future."
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.
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, 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.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/mikros-extends-adsss-condition-based-maintenance-cbm-to-a-fourth-navy-radar-system-300437628.html
SOURCE Mikros Systems Corporation