2014

Mikros Systems Awarded $2.8 million Contract With the United States Navy - Will Extend ADEPT to Littoral Combat Ships

PRINCETON, N.J., July 8, 2013 /PRNewswire/ -- Mikros Systems Corporation (OTCBB: MKRS), announced today that it was awarded a $2.8 million contract to deliver new condition-based maintenance capabilities for radars and electronic systems aboard the US Navy's Littoral Combat Ships (LCS).

Over the past three years Mikros has delivered more than 100 Adaptive Diagnostic Electronic Portable Test-set (ADEPT) systems to the US Navy for use on Aegis Cruisers and Destroyers. ADEPT has been embraced by the US Navy for its potential to reduce shipboard maintenance and deliver new distance support solutions. This new contract will extend ADEPT capabilities to deliver the ADEPT Distance Support Sensor Suite (ADSSS) to the US Navy.

According to Henry Silcock, Chief Technology Officer (CTO) for Mikros, "This new project will complete the initial ADEPT engineering efforts on LCS, which began in 2012.  The ADEPT Distance Support Sensor Suite on LCS will provide a complete and integrated data collection, diagnostics, prognostics, and data transfer solution for four key combat systems on both variants of the LCS."

"We have been aggressively pursuing opportunities to develop our core ADEPT system for other applications," stated Mikros President, Tom Meaney. "This award is the direct result of these efforts and is proof that the Navy recognizes the value that ADEPT can deliver to other US Navy programs. Once this project is complete, we expect to begin installing ADSSS on all LCS ships."

About Mikros

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.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 the 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, the failure of Congress to approve a budget or a continuing resolution, 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, 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, 2012 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. 

SOURCE Mikros Systems Corporation



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