Mercury Systems receives $16.8M contract award for rugged BuiltSECURE servers

Rhea-AI Summary

Mercury Systems (NASDAQ: MRCY) announced a $16.8 million contract from a leading defense contractor to provide BuiltSECURE™ servers for ground-based applications, with a potential lifetime value of $25 million. The contract, secured in fiscal Q3 2022, is expected to deliver over several quarters. These rugged servers, designed for harsh environments, offer high performance while ensuring data security and integrity. This partnership enhances Mercury's role as a trusted technology provider in the aerospace and defense sectors.

Positive

• Secured a $16.8 million contract with a potential lifetime value of $25 million.
• Strengthens Mercury's position as a trusted partner for defense contractors.
• Offers high-performance, secure servers suitable for harsh environments.

Negative

• None.

ANDOVER, Mass., April 27, 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 received a $16.8 million contract award from a leading defense prime contractor to provide rugged BuiltSECURE™ servers for a ground-based application. The award, with a potential lifetime value of $25 million, was received in the Company’s fiscal 2022 third quarter and is expected to be delivered over the next several quarters.

Why It Matters:
Sensitive technology, critical intellectual property and confidential data are vulnerable when deployed at the edge and must be protected from local or remote attacks. Ruggedized for deployment in harsh environments, Mercury’s BuiltSECURE servers deliver cloud-computing speed to the field without compromising security, providing the mission-critical insights needed to make real-time decisions with confidence.

“To stay ahead of and counteract adversarial threats, our customer needed the speed, security and capabilities of the latest processing platforms at the tactical edge to meet a variety of their program requirements,” said Joe Plunkett, vice president, Mercury Embedded. “We were able to provide them a rugged secure server solution that minimized cost, reduced program risk and delivered proven performance and reliability, further validating the important role Mercury plays as a trusted partner to leading prime contractors.”

Mercury’s rugged BuiltSECURE servers provide data center-level performance while maintaining system-wide integrity and protecting critical data from loss or compromise. Featuring U.S. designed and manufactured motherboards and the latest server-class compute technology, BuiltSECURE servers are the platform of choice for mission-critical applications.

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 equity awards 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, 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 and BuiltSECURE is a trademark 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 announce on April 27, 2022?

Mercury Systems announced a $16.8 million contract to provide BuiltSECURE™ servers for a ground-based application, with a potential lifetime value of $25 million.

Who is the contract awarded to Mercury Systems related to?

The contract was awarded by a leading defense prime contractor.

What is the potential lifetime value of the contract announced by MRCY?

The contract has a potential lifetime value of $25 million.

When is the delivery of the BuiltSECURE™ servers expected?

The delivery is expected to occur over several quarters following the contract award.