Mercury Systems Receives $17M Order for GPS Modules for Precision Guided Munitions Application
ANDOVER, Mass., Aug. 21, 2018 (GLOBE NEWSWIRE) -- Mercury Systems, Inc. (NASDAQ: MRCY, www.mrcy.com ) announced it received a $17 million order from a leading defense prime contractor for GPS Selective Availability Anti-Spoofing Modules (SAASM) for a precision guided munitions application. The order was booked in the Company’s fiscal 2019 first quarter and is expected to be shipped over the next several quarters.
The Company has successfully developed and commercialized an entire portfolio of digital microelectronics solutions ruggedized for modern weapons applications without sacrificing size, weight or power. This comprehensive portfolio includes ultra-compact memory devices, military-grade secure solid-state drives (SSD), GPS SAASM solutions and BuiltSECURE™ System in Package (SiP) devices integrating advanced security algorithms. All of Mercury’s digital microelectronics solutions are designed and manufactured in a Defense Microelectronics Activity (DMEA)-accredited facility for design, packaging, test and broker services.
“Mercury Systems is honored to provide our customers and our warfighters with cost-effective, enabling technologies for smart munitions applications,” said Iain Mackie, Vice President and General Manager of Mercury’s Microelectronics Secure Solutions group. “Receiving this prominent order exemplifies the power of Mercury’s next-generation business model to deliver an uninterrupted supply of advanced microelectronics solutions critical to our national defense infrastructure.”
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 fiscal 2019 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 contractor 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 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, 2018. 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.
Contact:Robert McGrail, Director of Corporate CommunicationsMercury Systems, Inc.+1 978-967-1366 / firstname.lastname@example.org
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