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Company Press Release
SOURCE: Mikros Systems Corporation
Mikros Systems Corporation Announces
Recent Developments And Preliminary 1997
Numbers
PRINCETON, N.J., Oct. 23 /PRNewswire/ -- Mikros Systems Corporation (OTC Bulletin Board: MKRS - news)
continues to pursue the strategy of focusing its resources on the development of data transmission utilizing the
AM radio band.
This technology will be marketed in North America through Mobile Broadcasting Corporation (MBC), a company
jointly owned by Safeguard Scientifics (NYSE: SFE - news) of Wayne, PA, and Mikros Systems Corporation.
Through its continued investment of the proceeds of the sale of the defense business, Mikros has increased its
ownership of MBC to 50% with Safeguard owning the other 50%.
The development of this technology has passed the planned lab phase and will proceed to live testing on two
Philadelphia radio stations this month. These live on the air tests, if successful, will conclude the Alpha phase.
The Company believes these tests will demonstrate simultaneous transmission of the normal radio signal and the
new digital signal.
The objective of this program is to offer a product to the consumer that will provide an inexpensive wireless data
delivery system for mobile and portable applications such as car radios, pagers, etc.
The preliminary results for the year ended December 31, 1997 was approximately $5,097,000 in revenues and a
preliminary loss of approximately $605,000. This compares with revenues of $859,100 and a loss of $1,447,641 for
the year ended December 31, 1996. The estimated loss per share for 1997 is $.05 as compared to $.18 per share in
1996.
The Board of Directors recently appointed Thomas J. Meaney as President.
Mikros Systems Corporation is a high technology company developing wireless data transmission techniques
and equipment for use on conventional AM and FM radio stations for the purpose of transmitting digital data,
without interference to the regular broadcast.
SOURCE: Mikros Systems Corporation |
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