Mercury Systems Receives $41.4 Million Order for Small Form Factor RF Transceivers for Weapons Application
ANDOVER, Mass., March 28, 2019 (GLOBE NEWSWIRE) -- Mercury Systems, Inc. (NASDAQ: MRCY, www.mrcy.com) announced it received a $41.4 million follow-on order from a leading defense prime contractor for miniaturized and highly ruggedized custom microwave transceivers for an advanced weapons application. The order was booked in the Company’s fiscal 2019 third quarter and is expected to be shipped over the next several years. The transceivers will be manufactured in the Company’s world-class U.S. Advanced Microelectronic Centers using state-of-the-art, fully automated assembly and test systems optimized for scalability and repeatability.
Mercury leverages its deep domain expertise in advanced packaging technologies to address the most demanding performance requirements for SWaP-constrained applications without sacrificing manufacturability, performance or affordability. Seasoned engineering staff co-located with expert manufacturing teams enable designs to transition smoothly and efficiently from development to production, thereby assuring customers of long-term supply continuity. The combination of design and manufacturing capabilities in each facility provides “one-stop shopping” for defense prime customers who need to reduce their supply chain complexity and lower risk.
“Receiving this prominent order from our valued defense prime contractor customer further validates Mercury’s role as a long-term trusted partner to successfully commercialize innovations that matter to our national defense infrastructure,” said Charlie Leader, Senior Vice President and General Manager of Mercury’s Advanced Microelectronics Solutions group. “We remain steadfast in our commitment to fully utilize the sophisticated capabilities of our domestic AMC facilities to deliver rugged microelectronics solutions providing the U.S. warfighter with a strategic and tactical edge in all future military engagements.”
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 and follow us on Twitter.
Forward-Looking Safe Harbor StatementThis 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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