PRINCETON, N.J., Feb. 14, 2017 /PRNewswire/ -- Mikros
Systems Corporation (OTCQB: MKRS) announced today that it has received the first Delivery Order under its recent multi-year
$35M contract with the Naval Surface Warfare Center in Crane,
IN.
The order covers eleven new production deliveries of Mikros' Adaptive Diagnostic Electronic Portable Testset (ADEPT) and is
valued at $1.1M. The ADEPT units will be produced at the Mikros Manufacturing and Depot
Center in Largo, FL and be delivered to the Navy later this year.
"We are excited and ready to ramp up the ADEPT production line here in Largo," said
Mark Laureigh, Mikros Director of Operations. "Having served in the U.S. Navy maintaining and
operating an AN/SPY-1 radar system, I know full well the current value and future potential ADEPT brings to our sailors. We are
proud for each opportunity we have to serve the men and women of our armed forces."
The Mikros Systems Manufacturing and Depot Center in Largo, Florida was established in 2009
to manufacture and provide sustainment and logistics support for the ADEPT system. The center has produced and delivered
over 200 systems to the U.S. Navy and provides continuing life-cycle support for the systems including, calibration, repair, and
training.
For more information on Mikros Systems' manufacturing capabilities, please visit the Mikros Systems website: http://www.mikrossystems.com.
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.
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SOURCE Mikros Systems Corporation