Mercury Systems Receives $3.9M Contract to Prepare Next Generation Airborne Radar Processing Subsystems for Production
May 31, 2019
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ANDOVER, Mass., -- Mercury Systems, Inc. (NASDAQ: MRCY, www.mrcy.com) announced it received a $3.9 million development contract from a leading defense Prime contractor to prepare next generation airborne radar processing subsystems for production at the Company’s secure and trusted Defense Microelectronics Activity (DMEA)-accredited manufacturing facility. The Company expects that the contract will be fulfilled by the end of the calendar year.
“The compute power and density needed by our customer’s next-generation radar requires our unique ability to package state-of-the-art processing power into compact modules that can withstand harsh shock and vibration environments,” said Joe Plunkett, Senior Director and General Manager for Mercury’s Sensor Processing Solutions group. “Our customer is leveraging Mercury’s proven packaging and liquid cooling technologies to achieve the processing speed, reliability and ruggedness required for this highly scalable radar system.”
Each small form factor processing subsystem is powered by the latest data center-level Intel®Xeon® processors, which are packaged for Sensor Open Systems Architecture (SOSA)-compatibility. To reduce program risk, Mercury is leveraging its advanced, proven OpenVPX packaging and cooling technologies, which have a technical readiness level of nine (TRL-9), to deliver the reliable high-performance processing required.
For more information, visit www.mrcy.com or contact Mercury at (866) 627-6951 or [email protected].
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 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 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 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, 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.
Robert McGrail, Director of Corporate Communications
Mercury Systems, Inc.
+1 978-967-1366 / [email protected]
Mercury Systems and Innovation That Matters are registered trademarks of Mercury Systems, Inc. Other product and company names mentioned may be trademarks and/or registered trademarks of their respective holders.
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