PRINCETON, N.J., Nov. 06, 2017 (GLOBE NEWSWIRE) -- Mikros Systems (OTCQB:MKRS) announced today that Mark J. Malone has been appointed President, effective immediately. He will continue to report to Tom Meaney, the Company’s Chief Executive Officer.

Mr. Malone, previously Mikros corporate vice president, will take on additional operational responsibilities to guide Mikros’ continued growth with U.S. government clients and in select commercial markets.

“Mark is a proven executive with a track record of developing new business, raising capital, and managing executive level relationships in the private and public sector,” said Meaney. “With over $80 million in long-term IDIQ contracts and opportunities to transition our military-grade technologies into commercial markets, Mark brings critical skills that will support our growth trajectory.”

Malone stated, “Mikros is an outstanding company with a solid backlog, strong customer relationships, and significant opportunity to apply our technology to the industrial Internet of Things. I am honored to be named President. I look forward to working with our team to advance our progress across our markets as we continue to deliver value for our shareholders.”

Malone joined Mikros in May 2017. Prior to joining Mikros, Malone spent over 20 years in several major investment banks. Most recently, he was managing director in the Institutional Equity Capital Markets division of Guggenheim Partners. Prior to that, he held senior positions at Janney Capital Markets and Lazard Capital Markets.

About Mikros Systems

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.