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Article Excerpt
PRINCETON, N.J., Aug. 14 /PRNewswire-FirstCall/ -- Mikros Systems Corporation (BULLETIN BOARD: MKRS) , announced today the results of operations for the fiscal quarter ended June 30, 2009. The Company reported second quarter revenue of $636,476 and net income of $18,966. Year to date revenue and net income were $1,143,785 and $9,117, respectively.
Although revenue and profit were down as compared to 2008, the decrease resulted from the timing of the award of Government research and development contracts, rather than any decrease in expected business. Throughout 2009, Mikros has maintained its experienced workforce at current levels to support anticipated contract awards later this year. As a result, expenses have remained relatively flat in comparison to the temporary decrease in revenue. Cash reserves and cash flow remain healthy and the Company has not incurred any debt during this period of delayed contract awards.
Mikros reported that it is well positioned for a strong second...
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