Mercury Systems Wins $22M Order for Next-Generation Airborne Radar Processing Subsystems
Demonstrates commercial innovation for defense that is secure and trusted
ANDOVER, Mass., Aug. 29, 2019 (GLOBE NEWSWIRE) -- Mercury Systems, Inc. (NASDAQ: MRCY, www.mrcy.com) announced it won a $22 million order from a major defense prime contractor for high-performance airborne radar processing subsystems, another demonstration of the Company’s leading capability in providing the most secure, innovative technology solutions for defense applications.
“As a leading producer of secure radar processing subsystems for the aerospace and defense industries, Mercury Systems delivers the compute density and environmental protection that our customers demand for their next-generation airborne radar systems,” said Brian Hoerl, Mercury’s Senior Vice President of Global Sales. “Moreover, our leadership in open architecture technologies enables us to meet our customers’ requirements for lower cost, flexible, easily upgradeable subsystems across multiple platforms that keep our world safe and secure.”
Quickly developed, these processors were designed using Mercury’s sensor open system architecture (SOSA)-compatible building blocks that feature the latest data center processing power and scalability required by next-generation radars. This multi-year order was received in the Company’s fiscal 2019 fourth quarter and is expected to be shipped over the next few years.
Mercury Systems – Innovation That Matters®
Mercury Systems is a leading commercial provider of secure sensor and safety-critical processing subsystems. Optimized for customer and mission success, Mercury's solutions power a wide variety of critical defense and intelligence programs. Headquartered in Andover, Mass., Mercury is pioneering a next-generation defense electronics business model specifically designed to meet the industry's current and emerging technology needs. To learn more, visit www.mrcy.com.
Forward-Looking Safe Harbor Statement
This press release contains certain forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995, including those relating to the products and services described herein and to fiscal 2020 business performance and beyond and the Company’s plans for growth and improvement in profitability and cash flow. You can identify these statements by the use of the words “may,” “will,” “could,” “should,” “would,” “plans,” “expects,” “anticipates,” “continue,” “estimate,” “project,” “intend,” “likely,” “forecast,” “probable,” “potential,” and similar expressions. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. Such risks and uncertainties include, but are not limited to, continued funding of defense programs, the timing and amounts of such funding, general economic and business conditions, including unforeseen weakness in the Company’s markets, effects of any U.S. Federal government shutdown or extended continuing resolution, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, changes in, or in the U.S. Government’s interpretation of, federal export control or procurement rules and regulations, market acceptance of the Company's products, shortages in components, production delays or unanticipated expenses due to performance quality issues with outsourced components, inability to fully realize the expected benefits from acquisitions and restructurings, or delays in realizing such benefits, challenges in integrating acquired businesses and achieving anticipated synergies, increases in interest rates, changes to cyber-security regulations and requirements, changes in tax rates or tax regulations, changes to interest rate swaps or other cash flow hedging arrangements, changes to generally accepted accounting principles, difficulties in retaining key employees and customers, unanticipated costs under fixed-price service and system integration engagements, and various other factors beyond our control. These risks and uncertainties also include such additional risk factors as are discussed in the Company's filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended June 30, 2019. The Company cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made.
Robert McGrail, Director of Corporate Communications
Mercury Systems, Inc.
+1 978-967-1366 / email@example.com