Mikros Systems Corporation (OTCBB: MKRS) announced today a new order from the U.S. Navy to build 36 additional Adaptive Diagnostic Electronic Portable Testset (ADEPT) units. Under the terms of the order, Mikros will deliver the 36 ADEPT units to U.S. Aegis Cruisers and Destroyers over the next 6-8 months.
“ We are proud to provide a very capable product that helps ensure these important Navy ships are always ready for their missions, ” stated Tom Meaney , Mikros’ President. “ The capabilities of the ADEPT equipment are now being noticed for applicability to other electronic systems found in the U.S. and International Navies. These applications present a tremendous opportunity for us to pursue additional contract awards and create substantial additional revenue streams. We are aggressively moving forward with plans to further develop the product to support these other systems.”
A 5-year $26 million IDIQ contract was awarded to Mikros in March 2010 for procurement of ADEPT systems and engineering services required for system enhancements, logistics, and field support. This latest U.S. Navy award of $3.1 million brings the total value of ADEPT orders placed against this contract to $8.3 million. Mikros expects to receive additional new orders for engineering services in 2011, and continues to anticipate $4-5 million of annual revenue under this contract.
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.
[mappress] Source: prnewswire, July 25, 2011;