Mercury Systems Receives $11.7M in Digital RF Memory Jammer Orders from U.S. Navy

Rhea-AI Summary

Mercury Systems (NASDAQ: MRCY) announced $11.7 million in orders related to a $152 million five-year sole-source basic ordering agreement for Digital RF Memory (DRFM) jammers with the U.S. Navy. These orders were received in Q4 of fiscal 2020 and will be delivered in upcoming quarters. The DRFM jammers, optimized for size, weight, and power, enhance electronic warfare testing and training capabilities. Mercury's commitment to innovation aims to meet emerging threats in defense technology.

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• Received $11.7 million in orders, contributing to a $152 million contract with the U.S. Navy.
• DRFM jammers are critical for electronic warfare training and operational readiness.

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• None.

ANDOVER, Mass., July 22, 2020 (GLOBE NEWSWIRE) -- Mercury Systems, Inc. (NASDAQ: MRCY, www.mrcy.com), a leader in trusted, secure mission-critical technologies for aerospace and defense, announced it received $11.7 million in 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 2020 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 electronic protection requirements of airborne pod-based solutions and incorporate decades of DRFM technology development, validated electronic attack techniques and custom RF components purpose-built to support advanced electronic warfare test and training capabilities.
       
“Our advanced DRFM systems are a critical tool for providing realistic electronic threats for Naval testing, evaluation and training,” said Mark Bruington, Vice President of Mercury’s Processing division. “It’s part of our commitment to developing and producing a simultaneous multiple-threat processing system with a flexible architecture that can evolve to keep pace with emerging threats, delivering Innovation That Matters to our service men and women in the field.”

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 is the leader in making trusted, secure mission-critical technologies profoundly more accessible to the aerospace and defense industries. Optimized for customer and mission success, our innovative solutions power more than 300 critical aerospace and defense programs. Headquartered in Andover, Mass., and with manufacturing and design facilities around the world, Mercury specializes in engineering, adapting and manufacturing new solutions purpose-built to meet the industry’s current and emerging high-tech needs. Our employees are committed to Innovation That Matters®. 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 described herein and to fiscal 2020 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, 2019, and as updated by the Company’s Current Report on Form 8-K filed on April 28, 2020. 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 Communications
Mercury Systems, Inc.
+1 978-967-1366 / rmcgrail@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 is the significance of the $11.7 million orders for MRCY?

The $11.7 million orders under a $152 million agreement enhance MRCY's revenue and solidify its position in defense technology.

How do the DRFM jammers benefit the U.S. Navy?

The DRFM jammers improve electronic warfare training, providing realistic threat simulations for naval operations.

When were the orders for MRCY received?

The orders were received in the fourth quarter of fiscal year 2020.

What technology does MRCY's DRFM jammers utilize?

MRCY's DRFM jammers use advanced technology for electronic warfare and are optimized for size, weight, and power.