PRINCETON, N.J., Oct. 9, 2012 /PRNewswire/ -- Mikros Systems Corporation (OTCBB: MKRS), announced today that it successfully exhibited at the Florida Defense & Technology Showcase on September 18, 2012. The showcase, hosted by Congressman C.W. Bill Young, is a unique trade show where small and mid-size companies exhibit to defense industry prime contractors looking for new technologies and suppliers.
The company highlighted its ADEPT® system, which is designed to improve readiness of radars and other complex electronic systems. This product is in use on several classes of U.S. Navy ships. The company's small power buoy was also featured at the show. The power buoy is designed to harvest power from ocean waves for persistent surveillance applications, and features a unique power take-off system developed by Ocean Power Technologies.
"We are very pleased we had the opportunity to brief Congressman Young during the show," said Tom Meaney, President of Mikros. "It's encouraging to see that Mr. Young and the Congress are supportive of remote monitoring and distance support tools like ADEPT. His continued interest and guidance is invaluable to the defense industry companies in the area."
Due to recent production and support contract awards for ADEPT, as well as an increase in potential business opportunities in the St. Petersburg/Clearwater Florida area, Mikros has decided to expand its facility in the area. According to Marc Dalby, Vice President of Business Development and Operations for Mikros, "The increase in facility space was necessary due to the growth of our ADEPT product sales to the U.S. Navy. We needed more production and office space to support this program and other opportunities we are pursuing in the area. Should things work out as planned, we envision hiring more employees for this facility over the next 6-12 months as well."
Pictures of Mikros at the FDTS event and our facility can be found on Mikros' website at: http://www.mikrossystems.com/news.html, under the "Other Information" section.
More information regarding the FDTS can be found on their website: http://fdtshowcase.com/2012
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. For more information on Mikros visit: www.mikrossystems.com
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, a decline or redirection of the U.S. Defense budget, the failure of Congress to approve a budget or a continuing resolution, the termination of any contracts with the U.S. Government, 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, 2011 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.
SOURCE Mikros Systems Corporation