Mikros Systems Announces Latest Installation of Condition-Based Maintenance System on Navy Ship Platform
PRINCETON, N.J., Sept. 11, 2019 /PRNewswire/ -- Mikros Systems Corporation (OTCQB: MKRS), a technology company specializing in electronic systems for advanced maintenance in military, industrial and commercial applications, announced today a new milestone in its ongoing contract with the U.S. Navy to provide advanced maintenance systems for the Littoral Combat Ship.
"We are very pleased to report that our team has just returned from the Naval Station in Mayport, Florida where we completed installation of the Navy's AN/SYM-3 system on another LCS platform," said Lori Ogles, Mikros Program Manager. "Our personnel worked together with the ship's crew and other United States Navy personnel to complete all planned work while the ship was making preparations for Hurricane Dorian. The Mikros team is expected to return later this month to complete final testing."
The SYM-3 system is used by the Navy to provide remote status monitoring, secure networking and data analytics for the key components of the ship's Combat System, including sensors and weapons systems. The system ensures the Combat System is in optimal operating condition, provides real-time feedback on system performance, and analyzes data to predict trends and future failures. The installation was funded under Mikros' existing ADEPT Distance Support Sensor Suite (ADSSS) IDIQ (Indefinite Delivery Indefinite Quality) contract with the United States Navy which also covers installations on multiple future ships. Mikros is also working to apply the same technology to other platforms and Navy legacy equipment.
Ms. Ogles continued, "There are many other Navy systems and ships where Condition-Based Maintenance capabilities are planned, and we are working diligently to apply the SYM-3 system to these and other applications across the Navy. Our systems provide a cyber-secure environment for remote monitoring and predictive analytics to keep the ship and its systems ready to fight."
About Mikros Systems
Mikros Systems Corporation is an advanced technology company specializing in the development and production of electronic systems technology for advanced maintenance in military, industrial and commercial 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. 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 failure of Congress to approve a budget or a continuing resolution, the termination of any contracts with the U.S. Government, continuation of the Federal automatic sequestration cuts, 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 inability to adequately integrate the newly purchased software 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, 2018 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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