March 22, 2010 (FinancialWire) — Mikros Systems Corp. (OTCBB: MKRS) said it has been awarded a $26 million Small Business Innovative Research Phase III contract for deliveries and support of Mikros' Adaptive Diagnostic Electronic Portable Testset from the Naval Surface Warfare Center at Crane, Indiana.

The award is an indefinite delivery, indefinite quantity contract with a maximum value of $26 million over 5 years.

According to Mikros, the contract covers the procurement of ADEPT systems and related engineering services required for system enhancements, logistics, and field support.

The company said it expects to receive the first delivery orders for ADEPT units and task orders for installation support services within the next 30 days. Mikros. 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 million to $5 million annually over the five year term of the contract.

ADEPT is a configurable, modular test set meant to automate and accelerate a range of preventive and corrective maintenance activities for radars and electronic systems used on Navy Ships.  

New Jersey-based Mikros Systems is a technology company specializing in the research and development of electronic systems technology primarily for military applications

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