Mercury Systems enables critical intelligence, surveillance, and reconnaissance for rotary-wing aircraft under $8M contract

Rhea-AI Summary

Mercury Systems, Inc. (MRCY) announced a significant contract worth $8 million with a leading aerospace and defense company to develop video switching technology for ISR applications in rotary-wing aircraft. Awarded on April 1, 2022, the contract has an estimated lifetime value of $25 million. This technology aims to enhance the distribution of video data, improving pilots' access to critical information during missions. The company emphasizes its commitment to delivering safety-critical solutions, leveraging its expertise in open mission systems.

Positive

• Awarded an $8 million contract, with an estimated lifetime value of $25 million.
• Enhances capabilities in intelligence, surveillance, and reconnaissance for rotary-wing aircraft.
• Supports customer demand for improved mission safety and information accessibility.

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• None.

ANDOVER, Mass., July 28, 2022 (GLOBE NEWSWIRE) -- Mercury Systems, Inc. (NASDAQ: MRCY, www.mrcy.com), a leader in trusted, secure mission-critical technologies for aerospace and defense, announced it was awarded an $8 million contract from a leading aerospace and defense company to design and develop video switching technology for an intelligence, surveillance and reconnaissance (ISR) application for rotary-wing aircraft. The contract was received on April 1, 2022, has an estimated lifetime value of approximately $25 million, and is expected to be delivered over the next several quarters.

Why It Matters
As the volume of video captured by airborne platforms continues to rapidly increase, streamlining the video distribution process provides pilots with essential information more quickly, enabling them to focus on the mission at hand.

“Our customers leverage Mercury’s end-to-end processing capabilities to build their most sophisticated safety-critical aerospace systems,” said Paul Tanner, vice president, international growth operations. “As an independent domestic supplier of key open mission systems, this contract enables Mercury to fulfill our commitment to deliver affordable purpose-built solutions to our customer in support of their desire to ensure pilot and mission safety.”

Mercury envisions, creates, and delivers innovative technology solutions purpose-built to meet its customers' most pressing high-tech needs. For more information, visit mrcy.com or contact Mercury at (866) 627-6951 or info@mrcy.com.

Mercury Systems – Innovation That Matters®
Mercury Systems is a global commercial technology company serving the aerospace and defense industry. Headquartered in Andover, Mass., the company delivers trusted, secure open architecture processing solutions powering a broad range of mission-critical applications in the most challenging and demanding environments. Inspired by its purpose of delivering Innovation that Matters, By and For People Who Matter, Mercury helps make the world a safer, more secure place for all. To learn more, visit mrcy.com, or 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 discussed herein and to fiscal 2022 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 epidemics and pandemics such as COVID, effects of any U.S. Federal government shutdown or extended continuing resolution, effects of continued geopolitical unrest and regional conflicts, competition, inflation, 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, changes in, or in the interpretation or enforcement of environmental rules and regulations, market acceptance of the Company's products, shortages in or delays in receiving components, production delays or unanticipated expenses due to performance quality issues with outsourced components, inability to fully realize the expected benefits from acquisitions, restructurings and value creation initiatives such as 1MPACT, or delays in realizing such benefits, challenges in integrating acquired businesses and achieving anticipated synergies, effects of shareholder activism, increases in interest rates, changes to industrial security and 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 July 2, 2021. 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 Communications
Mercury Systems Inc.
+1 (978) 967-1366   |   robert.mcgrail@mrcy.com

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.

FAQ

What contract did Mercury Systems (MRCY) announce on July 28, 2022?

Mercury Systems announced an $8 million contract to develop video switching technology for ISR applications in rotary-wing aircraft.

What is the estimated lifetime value of Mercury Systems' new contract?

The estimated lifetime value of the contract is approximately $25 million.

When was the contract awarded to Mercury Systems (MRCY)?

The contract was awarded on April 1, 2022.

How will the new video switching technology impact pilots?

It will enable pilots to access essential video information more quickly, improving mission focus and safety.