Princeton, N.J., Aug. 14, 2020 (GLOBE NEWSWIRE) — Mikros Systems Corporation (OTCQB: MKRS), an advanced technology company specializing in electronic systems technology for advanced maintenance in military, industrial and commercial applications, today announced financial results for the second quarter of 2020.
Mikros generated revenues of $1,844,923 during the three months ended June 30, 2020 approximately equal to second quarter 2019 revenues of $1,853,503. Cost of sales for the three months ended June 30, 2020 was $734,223 compared to $792,151 for the three months ended June 30, 2019, a decrease of $57,928 or 7%.
Mikros reported net income of $154,030 in the three months ended June 30, 2020 as compared to a loss of $3,721 in three months ended June 30, 2019.
“We are delighted to report a return to profitability in the second quarter,” said Mikros CEO Tom Meaney. “Despite the COVID-19 restrictions, which have seriously affected both us and