ANDOVER, Mass., June 06, 2019 (GLOBE NEWSWIRE) -- Mercury Systems, Inc. (NASDAQ: MRCY, www.mrcy.com) announced it received an $8.2 million follow-on order from a leading defense prime contractor for rugged, ultra-compact memory devices integrated into an advanced airborne command, control and intelligence application. The order was booked in the Company’s fiscal 2019 fourth quarter and is expected to be shipped over the next several quarters.
The Company’s flagship memory product combines Mercury’s best-in-class technology with the latest commercial memory devices to solve the customer’s most critical requirements for high-speed data processing. 16 GB of double data rate fourth-generation synchronous dynamic random-access memory (DDR4 SDRAM) is embedded into a 16mm x 23mm ball grid array, enabling the customer to save up to 83% printed circuit board space for SWaP-constrained military applications. Using highly automated manufacturing processes, Mercury’s innovative miniaturization technology transforms a two-dimensional array of discrete memory devices into a single, trusted, military-hardened three-dimensional device delivering data transfer rates as high as 2,666 megabits per second (Mbps). Mercury’s entire portfolio of memory devices is designed and manufactured exclusively in its five Advanced Microelectronics Centers (AMC) located throughout the U.S., assuring customers an affordable domestic supply of trusted microelectronics for critical military programs.
“We are honored to support our valued customer with state-of-the-art trusted memory devices for applications facing severe physical space constraints,” said Iain Mackie, Vice President and General Manager of Mercury’s Microelectronics Secure Solutions group. “Our military forces can rest assured that Mercury’s innovative packaging technology ruggedizes the most advanced commercial memory in the smallest possible form factor, thereby freeing valuable circuit board space for additional sensor processing subsystems.”
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 / firstname.lastname@example.org
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