Mercury Systems Receives $16M in DRFM Jammer Orders from U.S. Navy
June 24 2019 - 3:15PM
Mercury Systems, Inc. (NASDAQ: MRCY, www.mrcy.com) announced it
received an additional $16 million in follow-on orders against its
previously announced $152 million 5 year sole-source basic ordering
agreement (BOA) to deliver advanced Digital RF Memory (DRFM)
jammers to the U.S. Navy. The orders were received in the fourth
quarter of the Company's fiscal 2019 year and are expected to be
delivered over the next several quarters.
Mercury DRFM jammers are size, weight and power
(SWaP) optimized to meet the unique requirements of airborne
pod-based solutions and incorporate decades of DRFM technology
development, validated electronic attack techniques, and custom RF
components.
“Our design and manufacturing teams remain
committed to meeting the growing demands for mission critical
components for the U.S. military’s electronic warfare (EW) test and
training program,” said Brian Perry, President, Mercury Defense
Systems. “In addition to satisfying current requirements for DRFM
technology, Mercury is focused on developing the innovative
solutions essential for the next generation of advanced DRFM
capabilities to address broader system requirements and a more
complex EW concept of operations.”
For more information on Mercury Systems, visit mrcy.com or
contact Mercury at (866) 627-6951 or info@mrcy.com.
Mercury Systems – Innovation That Matters®
Mercury Systems (NASDAQ:MRCY) is a leading commercial provider
of secure sensor and mission 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.
Contact:Robert McGrail, Director of Corporate and
Investor CommunicationsMercury Systems, Inc.+1 978-967-1366 /
rmcgrail@mrcy.com
Mercury Systems and Innovation That Matters are 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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