Mikros Systems Corp., an advanced technology company primarily specializing in electronics systems technology for military applications, announced today its results for the fourth quarter and 12 months ended Dec. 31, 2011.
The company finished 2011 with record revenue of $5.3 million – an 11% increase from the previous year. The company additionally increased its gross profit from $2.0 million in 2010 to $2.1 million at the close of 2011, ending the year with $1 million in cash and cash equivalents – an increase of more than 50% from 2010.
Mikros Systems’ fourth quarter revenue for 2011 was $2.3 million – a 56% increase from the fourth quarter of 2010. This reflects higher revenues related to the company’s ADEPT products. The company also had a gross profit of $0.7 million for the fourth quarter of 2011, or 31.4% of revenue, as compared with $0.6 million, or 44.2% of revenue, from the previous year.
Mikros is currently pursuing a number of new contracts and opportunities that leverage the company’s technical expertise and can assist the Navy in modernizing its shipboard network infrastructure. The company finished 2011 well-positioned to continue its expansion and profitability, and it anticipates that 2012 will see continued growth, higher profitability, and additional program wins for Mikros.
The company’s full financial results for 2011 can be accessed at www.mikrossystems.com
Mikros is an advanced technology company focusing on the research and development of electronic systems technology – chiefly for military applications. The company is classified by the U.S. Department of Defense as a small business. Mikros’ capabilities include technology management, electronic systems engineering and integration, radar systems engineering, combat/command, control, communications, computers and intelligence systems engineering, and communications engineering. The company’s main business is pursuing and obtaining contracts from the Department of Homeland Security, the U.S. Navy, and other governmental authorities.
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