PRINCETON, N.J., Nov. 06, 2017 (GLOBE NEWSWIRE) -- Mikros Systems (OTCQB:MKRS) announced today that Mark J. Malone has been appointed President, effective immediately. He will continue to report to Tom Meaney, the Company’s Chief Executive Officer.
Mr. Malone, previously Mikros corporate vice president, will take on additional operational responsibilities to guide Mikros’ continued growth with U.S. government clients and in select commercial markets.
“Mark is a proven executive with a track record of developing new business, raising capital, and managing executive level relationships in the private and public sector,” said Meaney. “With over $80 million in long-term IDIQ contracts and opportunities to transition our military-grade technologies into commercial markets, Mark brings critical skills that will support our growth trajectory.”
Malone stated, “Mikros is an outstanding company with a solid backlog, strong customer relationships, and significant opportunity to apply our technology to the industrial Internet of Things. I am honored to be named President. I look forward to working with our team to advance our progress across our markets as we continue to deliver value for our shareholders.”
Malone joined Mikros in May 2017. Prior to joining Mikros, Malone spent over 20 years in several major investment banks. Most recently, he was managing director in the Institutional Equity Capital Markets division of Guggenheim Partners. Prior to that, he held senior positions at Janney Capital Markets and Lazard Capital Markets.
About Mikros Systems
Mikros Systems Corporation is an advanced technology company specializing in the development and production of electronic systems technology for advanced maintenance in military, industrial and commercial 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, command, control, communications, computers and intelligence systems engineering, and communications engineering.
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 or implied by such 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, significant delays or reductions in appropriations for our projects, 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, our ability to adequately integrate our software offerings into our business model, our ability to market our solutions to commercial customers, numerous other matters of national, regional and global scale, including those of a political, economic, business and competitive nature, 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, 2016 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.
Trish Kapp
VP, Finance, Corporate Secretary, and Treasurer
Mikros Systems
609-987-1513