Mikros Systems Receives $2.4 Million U.S. Navy Production Order for ADEPT® Advanced Maintenance Systems

PRINCETON, N.J., Sept. 28, 2017 /PRNewswire/ -- Mikros Systems Corporation (OTCQB: MKRS) announced today that it has received the second production order awarded under its recent multi-year $35M contract with the Naval Surface Warfare Center in Crane, IN.

The order covers new production deliveries of Mikros' Adaptive Diagnostic Electronic Portable Testset (ADEPT) and is valued at $2.4 million. Year-to-date, Mikros has received $3.5 million in U.S. Navy ADEPT production awards. The ADEPT units will be produced at the Mikros Manufacturing and Depot Center in Largo, FL.

Mikros' Director of Operations Mark Laureigh commented, "Our Largo facility is up and running after Hurricane Irma. We experienced minimal disruption from the storm and we are ready to execute this new production order. This is the eleventh round of production orders for ADEPT and will increase the total number of manufactured systems beyond 250. We expect to deliver additional ADEPT systems over the next year and continue to support the systems already deployed on U.S. Navy AEGIS surface combatants."

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 and other Mikros products.   The center has produced and delivered over 200 systems to the U.S. Navy and provides life-cycle support for the systems including calibration, repair and training.

For more information on Mikros Systems' manufacturing capabilities, please visit: https://www.mikrossystems.com/product/custom-manufacturing/

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. Please visit www.mikrossystems.com/news-events for more information.

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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 software offerings into our business model, our ability to market our solutions to commercial customers, numerous other matters of national, regional and global scale, including those of a political, economic, business and competitive nature, 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, 2016 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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