PRINCETON, N.J., April 1, 2008 /PRNewswire-FirstCall/ -- Mikros Systems Corporation (OTC Bulletin Board: MKRS), announced today that it awarded a sole-source contract to DRS Surveillance Support Systems in Largo, Florida for the manufacture of six ADEPT(R) V2 equipments which will be installed on Aegis cruisers as part of the cruiser modernization program. The ADEPT V2 is the second generation SPY-1 readiness tool which has been developed by Mikros under a Small Business Innovative Research Program (SBIR).
This unique test equipment, which includes Mikros' proprietary software, has the potential of improving the SPY-1 radar readiness as well as serving as a Distance Support Tool for remotely monitoring radars over a satellite link.
"We at DRS are pleased to be working with Mikros in supplying such valuable maintenance equipment to the Aegis modernization program," said John Churchman , General Manager of the Largo, Florida facility.
Tom Meaney , President of Mikros Systems Corporation said, "The ADEPT system has been tested at the Navy's land based test site in Moorestown, New Jersey as well as at-sea for a year on the USS San Jacinto. We are confident ADEPT will reduce maintenance time and enhance the readiness of the Aegis cruisers and destroyers. It is anticipated that the Navy will be placing orders soon for outfitting the entire Aegis fleet with the newest ADEPT configuration."
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.
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.
SOURCE Mikros Systems Corporation