Press Release 09 October 2009

 

Mikros Systems Corporation Expects ADEPT IDIQ Contract Award By Year End; Announces $570,000 Contract Award

USS Wayne E. Meyer to be Commissioned October 10, 2009

Princeton, NJ /PRNewswire-FirstCall/ October 9, 2009 – Mikros Systems Corporation (OTCBB: MKRS), announced today the award of  a $570,000 contract for support of the US Navy’s Above Water Radar Group.  The contract was awarded by Technology Service Corporation (TSC), headquartered in Silver Spring, MD, for work that will be performed over the next six months.

TSC provides engineering and services support to U.S. Government programs, including the US Navy’s AEGIS Combat System. “We are very pleased to be partnering with TSC on this important project”, stated Tom Meaney, President of Mikros. “Our capabilities in electronic systems development and distance support blend well with TSC’s radar and sensor engineering expertise.”

Mikros will provide project management and engineering assistance on various projects, including support for new acquisition radar programs. This contract also provides for continuation of pre-production engineering tasks in support of the Adaptive Diagnostic Electronic Portable Testset (ADEPT).

ADEPT, developed by Mikros, is a configurable, modular test set that automates and accelerates a range of preventive and corrective maintenance activities for complex radar and electronic equipment.  ADEPT also provides advanced distance support capabilities by allowing subject matter experts based  onshore to collaborate in real-time with technicians aboard the ship.  ADEPT has been designed to improve mission readiness and performance of complex shipboard electronic equipment and is especially applicable to the highly capable Aegis Combat System found on US and International Cruisers and Destroyers.

Mikros has been anticipating an Indefinite-Delivery, Indefinite-Quantity (IDIQ) contract award for ADEPT.   Although delays in the Government contracting process have been experienced, award is still expected by year end.  This contract is expected to include orders for the immediate delivery of 15 ADEPT systems. “We are working with the Government very closely and are at the final stages of the contracting process,” stated Marc Dalby, Vice-President, Business Development and Operations.  “We also expect additional task and delivery orders for engineering support and up to 30 ADEPT systems could be awarded within six months of the initial award.”

USS Wayne E. Meyer to be Commissioned

On Saturday, October 10, 2009, the US Navy will commission the USS Wayne E. Meyer (DDG 108) in Philadelphia, PA.   Rear Admiral (Ret.) Wayne E. Meyer provided valuable leadership and guidance to Mikros by serving as Director and Chairman of the Mikros Board of Directors since 1988.  He is widely regarded as the "Father of Aegis" for his 13 years of service as the Aegis Weapon System Manager and later, the founding project manager of the Aegis Shipbuilding Project Office.   Tom Meaney stated, “The DDG-108 Wayne E. Meyer is the most advanced surface combatant in the world, and knowing ADEPT will be onboard to help maintain the SPY-1 radar is very rewarding.”

About Mikros

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.  For more information on Mikros visit: www.mikros.us

Source: Mikros Systems Corporation

CONTACT:  Thomas J. Meaney - (609) 987-1513

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.  

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