Press Release 30 August 2004

 

Mikros Systems Corporation Announces Six-Month Results

PRINCETON, N.J., Aug. 30, 2004 /PR Newswire-FirstCall/ -- Mikros Systems Corporation (BULLETIN BOARD: MKRS) announced today its results for the first six months of 2004. Revenues were approximately $507,000 for the six months ended June 30, 2004 compared to approximately $30,000 for the six months ended June 30, 2003. Net income for the six months ended June 30, 2004 was $71,231 versus a net loss of $80,490 for the same period in 2003.
 

Much of the revenue increase was attributable to a U.S. Navy Small Business Innovation Research (SBIR) Phase II contract awarded in August 2003. Since the original award, the total contract value has grown to $1,000,000, and program work under the existing contract will continue through December 2004. Mikros is currently negotiating the SBIR Phase III follow-on contract, valued at approximately $2,500,000, to continue this program through all of 2005.
 

Mikros Systems Corporation is a high technology company focused upon the development and application of new technologies in the defense industry and commercial markets.
 

The public is encouraged to view the Mikros website (www.Mikros.us) for further information and updates on the Company.

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.

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