Tag Archives: MKRS

Mikros Announces $ 1.1 Million Navy Production Order for ADEPT Advanced Maintenance Systems

Mikros Systems Corporation (MKRS) announced today that it has received the first Delivery Order under its recent multi-year $35M contract with the Naval Surface Warfare Center in Crane, IN.

The order covers eleven new production deliveries of Mikros’ Adaptive Diagnostic Electronic Portable Testset (ADEPT) and is valued at $1.1M. The ADEPT units will be produced at the Mikros Manufacturing and Depot Center in Largo, FL and be delivered to the Navy later this year.

“We are excited and ready to ramp up the ADEPT production line here in Largo,” said Mark Laureigh, Mikros Director of Operations. “Having served in the U.S. Navy maintaining and operating an AN/SPY-1 radar system, I know full well the current value and future potential ADEPT brings to our sailors. We are proud for each opportunity we have to serve the men and women of our armed forces.”

The Mikros Systems Manufacturing and Depot Center in Largo, Florida was established in 2009 to manufacture and provide sustainment and logistics support for the ADEPT system. The center has produced and delivered over 200 systems to the U.S. Navy and provides continuing life-cycle support for the systems including, calibration, repair, and training.

For more information on Mikros Systems’ manufacturing capabilities, please visit the Mikros Systems website: http://www.mikrossystems.com.

Mikros Systems Announces 2014 Results: Record Profits and Backlog

Revenues Up 80%; Backlog at $5.5M; ADEPT Contract Extended Through August 2016

PRINCETON, N.J., March 31, 2015 (GLOBE NEWSWIRE) — Mikros Systems Corporation (MKRS), an advanced technology company which designs and manufactures specialized electronic systems for the Department of Defense, today announced strong financial results for 2014, including record profits for the year and the largest backlog for future orders in the Company’s history.

Mikros reported revenues of $5.53 million in 2014, compared to $3.05 million in 2013, an increase of $2.48 million or more than 80%. Net income was $533,000 compared to a loss of $147,000 in 2013. As of December 31, 2014, the backlog for future orders stood at $5.5 million, representing the highest backlog in the history of the Company.

“We are delighted to report a return to profitability after surviving a lean 2013 caused primarily by defense budget sequestration cuts and delays,” said Mikros President Tom Meaney. “Not only did Mikros come back with strong operating performance in 2014, we also generated multiple new contracts and task orders under existing contracts and believe our prospects for future growth are as strong as they have ever been. We continue to receive orders for additional production and related support of our ADEPT products, and several important new development contracts which will extend the system to maintain other Navy radars and combat system equipment.”

MKRS

Mikros Systems Corporation Receives Additional Funding From The Department of the Navy

Excellent News. MKRS (.32) was a Pennyheaven Super 7 from 2005. My patience may have finally paid off.