Mikros Systems Receives Second Navy Contract and Additional Funding

6/12/17

PRINCETON, N.J., June 12, 2017 (GLOBE NEWSWIRE) -- Mikros Systems Corporation (OTCQB:MKRS) announced today that it has received a second contract from the United States Navy for development of a new upgrade to Mikros’ ADSSS® (ADEPT Distance Support Sensor Suite) product line. The new award increases existing funding from $1.5 million to $2 million.

The new variant of the Company’s flagship Condition Based Maintenance (CBM) product will be applied to the Navy’s AN/SPG-62 radar, part of the mission-critical MK 99 Fire Control System. This will be the first time Mikros CBM technology, first introduced on the Littoral Combat Ship (LCS), has been applied to the Navy’s Aegis Weapons System in the surface combatant fleet. Over 300 radars are currently installed on Navy cruisers and destroyers.

Mikros develops and manufactures advanced maintenance systems for the Navy, including the ADEPT® (Adaptive Diagnostic Electronic Portable Testset) Maintenance Automation Workstation and ADSSS. ADSSS is a network-based system which collects maintenance data in real-time to detect and predict failures in complex distributed systems, such as radars and other Navy combat system elements. Early detection and prediction of faults is critical to maintaining weapons system readiness.

In April, Mikros received a $1.5 million contract from the Navy to extend the capabilities of the ADSSS system to support the MK 99. The new award is a Small Business Innovation Research (SBIR) contract which provides an additional $500,000 to further support this effort.

“Working with the United States Navy to customize our ADSSS condition based maintenance solution for use on the Aegis surface combatant fleet marks an important milestone for Mikros Systems,” said Henry Silcock, Mikros Chief Technology Officer. “Extending our product and service offerings to additional combat systems and ship classes is a critical element of our long term strategic plan and this new contract provides an excellent opportunity for us to prove the value of our condition based maintenance system to another ship class.”

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. For more information on Mikros, please visit: www.mikrossystems.com.

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