PRINCETON, N.J., Sept. 26, 2016 /PRNewswire/ -- Mikros Systems Corporation (OTCQB: MKRS), a provider of advanced maintenance monitoring solutions, announced today that it has received a $3 million task and delivery order from the U.S. Navy for production, logistics support and future development of its ADEPT® Distance Support Sensor Suite (ADSSS) Condition Based Maintenance (CBM) system for the Navy's Littoral Combat Ship (LCS). The award is the first task and delivery order under the $48 million U.S. Navy indefinite delivery, indefinite quantity (IDIQ) contract awarded to Mikros Systems in September. The $48 million IDIQ contract covers multiple ship classes including the AEGIS class, a platform currently supported by Mikros Systems.
The ADEPT Distance Support Sensor Suite (ADSSS) uses smart sensors, model-based prognostics and secure fault-tolerant networking to implement CBM for mission-critical complex distributed systems. Under this task order, the ADSSS system will connect to LCS ship combat system sensor points for continuous monitoring and upload to the shipboard network. Currently, ADSSS is supporting the advanced maintenance requirements for eight of the 28 ships in the class.
"This award is the result of our ground-breaking technology and processes to advance condition-based maintenance for combat systems. We are proud of our legacy of support in ensuring the readiness of U.S. Navy combat systems and we look forward to expanding the ADSSS technology to additional LCS and U.S. Naval platforms," said Mikros Systems President and CEO, Tom Meaney.
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, 2015 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-systems-awarded-3-million-task-order-to-support-the-us-navy-littoral-combat-ship-lcs-program-300333792.html
SOURCE Mikros Systems Corporation