Mikros Systems Corporation (OTCBB: MKRS),
Princeton, New Jersey, December 1, 2005 -- Mikros Systems
Corporation is pleased to report the results for the quarter
ended September 30, 2005. The revenues for the nine months
ended September 30, 2005 were $1,236,679 with net income
of $101,894 compared to revenues of $ 724,820 for the same
period in 2004 and net income of $124,513. Net income for
the nine months ended September 30, 2004 included the
write-off of certain of our obligations valued at
approximately $67,000.
During this period the Company has
accepted delivery of the first Adaptive Diagnostic
Electronic Portable Testset (ADEPT®) production
unit from DRS Laurel Technologies in Johnstown,
Pennsylvania. This is the first of five production units
being delivered to Mikros for field testing by the U.S.
Navy. (Note: The MFDAT Equipment has been renamed ADEPT).
This unit was unveiled at the
Autotestcon Show, the premier military test equipment show
in Orlando, Florida held in September 2005.
Also, during this period Mikros
completed work on the Radar Wireless Spectral Efficiency (RWSE)
Phase I contract which addresses the coexistence on Navy
ships of radars to control systems and commercial WIFI
equipment. Mikros has submitted a proposal to the Navy for
a Phase II effort to continue this study and suggest
products or solutions for the U.S. Navy.
Mikros relocated its engineering
headquarters from Conshohocken, Pennsylvania to Fort
Washington, Pennsylvania. These larger offices will
enable the Company to expand and to increase its technical
staff growth.
The public is encouraged to view the
Mikros website (www.Mikros.us)
for further information and updates on the Company.
Mikros Systems Corporation is a high
technology company focused upon the development and
application of new technologies in the defense industry and
commercial markets.
Source:
Mikros Systems Corporation
CONTACT: Thomas J. Meaney
-
(609) 987-1513
Certain matters discussed in this press
release are "forward-looking statements" intended to qualify
for the safe harbors from liability established by the
Private Securities Litigation Reform Act of 1995. Such
forward-looking statements include, without limitation,
statements regarding technology under development,
strategies and objectives. The forward-looking statements
include risks and uncertainties, including, but not limited
to, the anticipated size of and growth in the markets for
the Company's products, the trends favoring the use of the
Company's proposed commercial products, the anticipated
demand for the Company's new products, the timing of
development and implementation of the Company's new product
offerings, the utilization of such products by the Company's
clients and trends in future operating performance, and
other factors not within the Company's control. The factors
discussed herein and expressed from time to time in the
Company's filings with the Securities and Exchange
Commission could cause actual results and developments to be
materially different from those expressed in or implied by
such statements. The forward-looking statements made herein
are only made as of the date of this press release and the
Company undertakes no obligation to publicly update such
forward-looking statements to reflect subsequent events or
circumstances.