The contract covers the procurement of ADEPT systems and related engineering services required for system enhancements, logistics, and field support. Within the next 30 days, Mikros expects to receive the first delivery orders for ADEPT units and task orders for installation support services. Mikros anticipates additional deliveries and task orders in 2010 of between $2 and 3 million and believes that this contract could generate revenues of $4-5 million annually over the 5 year term of the contract.
ADEPT is a configurable, modular test set that automates and accelerates a range of preventive and corrective maintenance activities for radars and electronic systems used on Navy Ships. ADEPT is designed to improve mission readiness and performance of important shipboard electronic systems, including equipment associated with the Navy's Ballistic Missile Defense program. ADEPT also provides advanced capabilities in distance support, providing near real-time display of shipboard equipment performance parameters to subject matter experts ashore. Recent results from Navy fleet experiments and feedback from Navy personnel who have used the equipment has been very positive.
"We have been working very hard over the past several years to get ADEPT ready for full-scale delivery to the
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.
Important Information about Forward-Looking Statements: All statements in this news release other than statements of historical facts are forward-looking statements which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Such statements are not guarantees of future performance or events and are subject to known and unknown risks and uncertainties that could cause the Company's actual results, events or financial positions to differ materially from those included within the forward-looking statements. Such factors include, but are not limited to, changes in business conditions, changes in our sales strategy and product development plans, changes in the marketplace, continued services of our executive management team, our limited marketing experience, competition between us and other companies seeking SBIR grants, competitive pricing pressures, market acceptance of our products under development, delays in the development of products, statements of assumption underlying any of the foregoing, and other factors disclosed in our annual report on Form 10-K for the year ended December 31, 2008 and other filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, we undertake no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date hereof.
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