PRINCETON, N.J., April 25, 2006 /PRNewswire-FirstCall via COMTEX/ -- Mikros Systems Corporation (MKRS, Trade) is pleased to report the results for the year ended December 31, 2005. The Company's revenues were approximately $1,550,000 with net income of approximately $135,000 due in part to a deferred tax benefit of approximately $65,000 compared to $1,044,000 in revenues in 2004 with a net income of approximately $92,000.
In March 2006, the Company received an amendment to its SBIR Phase III contract from the Naval Weapons Center Dahlgren Division, Dahlgren, VA. This amendment increased the contract funding by approximately $2,900,000 and extended the period of performance through February 2008. This contract amendment calls for an expansion of ADEPT(TM) applications to include all Aegis ship variants for cruisers and destroyers, a total of 84 ships. Land- based testing of ADEPT(TM) has been completed and the Company is currently working with the U.S. Navy to schedule ADEPT(TM) testing aboard an Aegis cruiser. As part of our ongoing marketing of this product, the Company is investigating the application of ADEPT(TM) to other ships and equipment."
posted
only looked at this briefly so far (dinner cooking, have to run to kiddie soccer game), but - have to say that so far MKRS doesn't immediately jump out at me as a buy.
4thQ results were not too great - benefitted heavily from the tax break, actually lost $20K from operations. so if they cleared $50K profit for the year on a $8M market cap, that's quite a hefty premium to earnings. balance sheet OK, nothing special though.
granted if ADEPT and some other things come through and they expand, could very well do better over the next few years.
i will have to look into ADEPT more, to check on the technology and contemplate the chances of MKRS being able to sell it to other companies, that would seem to be a major key to their growth prospects. will look into further later
Posts: 1698 | Registered: Mar 2004
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posted
looked into the website a bit. as a physics geek, ADEPT and RWSE are pretty interesting.
so looking over their PR's, they seem to have a little over $5M of USNavy backlog, not bad - maybe 2 yrs worth of work? seems like a pro for the company.
in a recent PR, they mention:
"This modification will expand the application of ADEPT™ to include all Aegis ship variants for cruisers and destroyers. This market totals over 80 ships plus shore-based facilities. Future potential markets include foreign navies and other U.S. Navy ships."
not sure of the market here, not being familiar with Aegis ship variants and the like. to what degree have they penetrated/maxed out the USNavy possibilities, with this $5.3M worth of orders? half? dunno. what's the possibilities in the foreign navies - maybe doubling their market possibilities? Can they expand on their product to make it applicable to more ship-types? dunno.
ADEPT seems like their biggest project, not sure how big RWSE is. they do seem like pretty innovative geek-types, some of their project list looks pretty interesting:
maybe they'll be able to expand on their current product line, and be able to sustain some nice growth into other related areas.
what about margins? hard to say.
what about expanding their product line to non-military vessels? hard to say - looking over their website, they look to be "purely military". i don't know enough about their technology to comment intelligently on whether or not their product line could be expanded into commercial, non-military applications.
honestly, i'm not quite sure what to make of MKRS.
on the plus side, they seem pretty innovative, and that they have a good product line receiving high marks, and some "irons in the fire". seems likely that they'd be likely to be busy for the next 3 or 4 years, at least.
on the minus side - i have questions about their margins/profitability, the last fiscal year's profit was mild at best. sometimes it is hard to make $ when dealing purely with the government, they have all their eggs in that basket. maybe i am wrong though - maybe their R+D is already mostly "paid for" at least when it comes to ADEPT, and they can now start to increase profit as they crank them out.
on the question-mark side, it's really hard to say at this point, the "expandability" of their business.
i dunno - hard for me to form a concrete opinion on this one, am not being much help. my initial impression is: is interesting enough for me to keep a close eye on, but i would look for a dip to the low .20's or more compelling positive developments from the company for me to want to jump in.
maybe someone who has done more research/is more knowledgeable with the technology, could comment quite a bit more intelligently and definitively than i've been able to manage?
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Seems a solid company which has been in business well over thirty years. I cannot find anything which seems hinky; all their ducks are well lined up and orderly.
Certainly a slow growth company. I find nothing which indicates expected nor unexpected losses in the future. I would class this company as a long term value stock. I do not expect any fast movement in stock price.
Two items catch my eye. Their R & D is funded by the Dept. of Defense so there is little or no chance of typical dilution for funding. The other is their developing expertise in underwater technology; data tranmission and radar.
Iran recently tested an "undetectable" underwater missle which is of concern. Perhaps there is an outside chance this company may address this in the future, related to their current abilities.
Safe and sane company but I think no sudden profits for quite a period of time; slow & steady.
posted
I can' give you my opinion but here is vector vest's.
VectorVest Stock Analysis of Mikros Sys Corp as of 4/25/2006
This report has five major sections. Capital Appreciation Analysis Dividend Analysis Price-Volume Data Sales / Market Capitalization Information Summary
The ticker symbol for Mikros Sys Corp is MKRS. MKRS is traded on the Bulletin Board - (B)
Business: MIKROS SYSTEMS CORP, (MKRS) Develops a digital radio system for AM radio data transmission, which is intended to allow simultaneous broadcasting of the present radio signal with a digital signal. Business Sector: MKRS has been assigned to the Electronic Business Sector. VectorVest classifies stocks into over 200 Industry Groups and 40 Business Sectors. Industry Group: MKRS has been assigned to the Electronic (Semicndtr Mfg) Industry Group. VectorVest classifies stocks into over 200 Industry Groups and 40 Business Sectors.
Capital Appreciation Analysis Back to top
Value: Value is a measure of a stock's current worth. MKRS has a current Value of $0.02 per share. Therefore, it is overvalued compared to its Price of $0.26 per share. Value is computed from forecasted earnings per share, forecasted earnings growth, profitability, interest, and inflation rates. Value increases when earnings, earnings growth rate and profitability increase, and when interest and inflation rates decrease. VectorVest advocates the purchase of undervalued stocks. At some point in time, a stock's Price and Value always will converge.
RV (Relative Value): RV is an indicator of long-term price appreciation potential. MKRS has an RV of 0.14, which is very poor on a scale of 0.00 to 2.00. This indicator is far superior to a simple comparison of Price and Value because it is computed from an analysis of projected price appreciation three years out, AAA Corporate Bond Rates, and risk. RV solves the riddle of whether it is preferable to buy High growth, High P/E stocks, or Low growth, Low P/E stocks. VectorVest favors the purchase of stocks with RV ratings above 1.00.
RS (Relative Safety): RS is an indicator of risk. MKRS has an RS rating of 0.63, which is poor on a scale of 0.00 to 2.00. RS is computed from an analysis of the consistency and predictability of a company's financial performance, debt to equity ratio, sales volume, business longevity, price volatility and other factors. A stock with an RS rating greater than 1.00 is safer and more predictable than the average stock in the VectorVest database. VectorVest favors the purchase of stocks of companies with consistent, predictable financial performance.
RT (Relative Timing): RT is a fast, smart, accurate indicator of a stock's price trend. MKRS has a Relative Timing rating of 0.94, which is fair on a scale of 0.00 to 2.00. RT is computed from an analysis of the direction, magnitude, and dynamics of a stock's price movements over one day, one week, one quarter and one year time periods. Once a stock's price has established a strong trend, it is expected to continue in that trend for the short-term. If a trend dissipates, RT will gravitate toward 1.00. RT will explode from bottoms, dive from tops, and reflect changes in price momentum. VectorVest favors the purchase of stocks with RT ratings above 1.00.
VST (VST-Vector): VST is the master indicator for ranking every stock in the VectorVest database. MKRS has a VST rating of 0.69, which is poor on a scale of 0.00 to 2.00. VST is computed from the square root of a weighted sum of the squares of RV, RS, and RT. Stocks with the highest VST ratings have the best combinations of Value, Safety and Timing. These are the stocks to own for above average, long-term capital appreciation. VectorVest advocates the purchase of safe, undervalued stocks rising in price.
Recommendation (REC): VectorVest gives a Buy, Sell, Hold recommendation on every stock, every day. MKRS has a Hold recommendation. REC reflects the cumulative effect of all the VectorVest parameters working together. These parameters are designed to help investors buy safe, undervalued stocks rising in price. They also help investors avoid or sell risky, overvalued stocks falling in price. VectorVest recommends that investors buy high VST-Vector, Buy-rated stocks in rising markets.
Stop (Stop-Price): Stop is an indicator of when to sell a long position or cover a short position. MKRS has a Stop of $0.26 per share. This is $0 below MKRS's current closing Price. A stock's Stop is computed from a 13 week moving average of its closing prices, and is fine-tuned according to the stock's fundamentals. High RV, high RS stocks have lower Stops, and low RV, low RS stocks have higher Stops. In the VectorVest system, a stock gets a 'B' or 'H' recommendation if its Price is above its Stop and an 'S' recommendation if its Price is below its Stop.
GRT (Earnings Growth Rate): GRT reflects a company's one to three year forecasted earnings growth rate in percent per year. MKRS has a forecasted Earnings Growth Rate of 0.00%, which VectorVest considers to be poor. GRT is computed from historical, current and forecasted earnings data. It is updated each week for every stock in the VectorVest database. GRT often foretells a stock's future price trend. If a stock's GRT trend is upward, the stock's price will likely rise. If GRT is trending downward, the stock's Price will probably fall. VectorVest favors the purchase of stocks whose GRT is rising and is greater than the sum of current inflation and interest rates, (9.60%).
EPS (Earnings per Share): EPS stands for leading 12 months Earnings Per Share. MKRS has a forecasted EPS of $0.00 per share. VectorVest determines this forecast from a combination of recent earnings performance and traditional fiscal and/or calendar year earnings forecasts.
P/E (Price to Earnings Ratio): P/E is a popular measure of stock valuation which shows the dollars required to buy one dollar of earnings. MKRS has a P/E of 999.99. This ratio may be deemed to be high or low depending upon your frame of reference. The average P/E of all the stocks in the VectorVest database is 28.46. P/E is computed daily using the formula: P/E = Price/EPS.
EY (Earnings Yield): EY reflects earnings per share as a percent of Price. EY is related to P/E via the formula, EY = 100 / (P/E), and may be used in place of P/E as a measure of valuation. EY has the advantages that it is always determinate and can reflect negative earnings. MKRS has an EY of 0.00 percent. This is below the current average of 3.51% for all the stocks in the VectorVest database. EY equals 100 x (EPS/Price).
GPE (Growth to P/E Ratio): GPE is another popular measure of stock valuation. It compares earnings growth rate to P/E ratio. MKRS has a GPE rating of 0.00. High growth stocks are believed to be able to justify high P/E ratios. A stock is commonly considered to be undervalued when GPE is greater than 1.00 and overvalued when GPE is below 1.00. Unfortunately, this rule of thumb does not take into account the effect of interest rates on P/E ratios. The operative GPE ratio of 1.00 is valid when and only when interest rates equal 10%. With long-term interest rates currently at 6.20%, the operative GPE ratio is 0.38. Therefore, MKRS may be considered to be overvalued.
Dividend Analysis Back to top
DIV (Dividend): VectorVest reports annual, regular, cash dividends as indicated by the most recent payments. Special distributions, one-time payments, stock dividends, etc., are not generally included in DIV. MKRS does not pay a dividend.
DY (Dividend Yield): DY reflects dividend per share as a percent of Price. MKRS does not pay a dividend, so it does not have a Dividend Yield rating. . DY equals 100 x (DIV/Price). It is useful to compare DY with EY. If DY is not significantly lower than EY, the dividend payment may be in jeopardy.
DS (Dividend Safety): DS is an indicator of the assurance that regular cash dividends will be declared and paid at current or at higher rates for the foreseeable future. MKRS does not pay a dividend, so it does not have a Dividend Safety rating . Stocks with DS values above 75 typically have RS values well above 1.00 and EY levels that are much higher than DY.
DG (Dividend Growth Rate): Dividend Growth is a subtle yet important indicator of a company's financial performance. It also provides some insight into the board's outlook on the company's ability to increase earnings. MKRS does not pay a dividend, so it does not have a Dividend Growth rating .
YSG (YSG-Vector): YSG is an indicator which combines DIV, DY and DG into a single value, and allows direct comparison of all dividend-paying stocks in the database. MKRS does not pay a dividend, so it does not have a YSG rating . Stocks with the highest YSG values have the best combinations of Dividend Yield, Safety and Growth. These are the stocks to buy for above average current income and long-term growth.
Price-Volume Data Back to top
Price: MKRS closed on 4/25/2006 at $0.26 per share
Open: MKRS opened trading at a price of $0.27 per share on 4/25/2006.
High: MKRS traded at a High price of $0.27 per share on 4/25/2006.
Low: MKRS traded at a Low price of $0.25 per share on 4/25/2006
Close: MKRS closed trading at price $0.26 per share on 4/25/2006. (Close is also called Price in the VectorVest system)
Range: Range reflects the difference between the High and Low prices for the day. MKRS traded with a range of $0.02 per share on 4/25/2006.
$Change: MKRS closed down 0.01 from the prior day's closing Price.
%PRC: MKRS's Price changed -3.70% from the prior day's closing price.
Volume: MKRS traded 12,920 shares on 4/25/2006.
AvgVol: AvgVol is the 50 day moving average of daily volume as computed by VectorVest. MKRS has an AvgVol of 33,300 shares traded per day.
%Vol: %Vol reflects the percent change in today's trading volume as compared to the AvgVol. %Vol equals ((Volume - AvgVol) / AvgVol ) * 100. MKRS had a %Vol of -61.20% on 4/25/2006
CI (Comfort Index): CI is an indicator which reflects a stock's ability to resist severe and/or lengthy price declines. MKRS has a CI rating of 0.87, which is fair on a scale of 0.00 to 2.00. CI is quite different from RS in that it is based solely upon a stock's long-term price history. VectorVest advocates the purchase of high CI stocks.
Sales / Market Capitalization Information Back to top
Sales: MKRS has annual sales of $1,000,000.00
Sales Growth: Sales Growth is the Sales Growth Rate in percent over the last 12 months. MKRS has a Sales Growth of 104.00% per year. This is excellent. Sales Growth is updated each week for every stock. It is often useful to compare Sales Growth to Earnings Growth to gain an insight into a company's operations.
Sales Per Share (SPS): MKRS has annual sales of $0.05 per share. SPS can be used as a measure of valuation when comparing stocks within an Industry Group.
Price to Sales Ratio (P/S): MKRS has a P/S of 5.30. This ratio is also used as a measure of valuation. Here, too, it is useful when comparing stocks within an Industry Group.
Shares: MKRS has 31,000,000.00 shares of stock outstanding.
Market Capitalization: MKRS has a Market Capitalization of $8,000,000.00. Market Capitalization is calculated by multiplying price times shares outstanding.
Summary Back to top
MKRS is overvalued compared to its Price of $0.26 per share, has below average safety, and is currently rated a Hold.
The basic strategy of VectorVest is to buy Low risk, High reward stocks. We suggest that Prudent investors buy enough High Relative Value, High Relative Safety stocks to keep the overall RV and RS ratings of their portfolios above 1.00. As you do this, you'll find that your risk will go down and your investment performance will improve.
-------------------- Damn, if he wasn't right. Posts: 391 | From: Tallinn, Estonia | Registered: Aug 2004
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posted
never did pull the trigger on this one, despite having on my watchlist for 9 months now. i should have bought, drats - almost doubled since purl's original post, now at .50.
interesting - not much news, revs up somewhat but profit still fairly small, yet - still has risen to .50; guess people must like the potential.
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quote:Originally posted by 10of13: dollar? this is an old thread that she posted I don't think that she is back...but I am sure that she will read your admiration!
LOL 10 OF 13
I KNOW
BUT YOU KNOW WHAT I LOVE YOU MORE 10 Posts: 4112 | Registered: Jun 2006
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