Mercury Systems receives $3.6M order for electro-optical / infrared image processing systems

Rhea-AI Summary

Mercury Systems, Inc. (NASDAQ: MRCY) announced a $3.6 million order from a top defense contractor for electro-optical/infrared (EO/IR) image processing systems aimed at airborne surveillance. This order, part of the Company’s fiscal 2022 second quarter results, is expected to be fulfilled over the next several quarters. The advanced EO/IR technology enhances pilot situational awareness in various conditions, supporting tactical advantages in missions. Mercury continues to provide reliable, purpose-built solutions that meet defense needs.

Positive

• Secured a $3.6 million order from a leading defense contractor.
• The order supports advanced EO/IR technology for surveillance applications.
• Technology enhances pilot situational awareness, crucial for tactical missions.

Negative

• None.

ANDOVER, Mass., March 15, 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 has received a $3.6 million order from a leading defense prime contractor for electro-optical / infrared (EO/IR) image processing systems for an airborne surveillance application. The order was booked in the Company’s fiscal 2022 second quarter and is expected to be shipped over the next several quarters.

Why It Matters
Leading-edge real-time EO/IR processing technology enables pilots to secure unprecedented, real-time situational awareness both day and night, helping them to maintain tactical advantage in the battlefield.

“This long-term customer continues to turn to Mercury for purpose-built technology that meets rigorous performance and reliability demands,” said Joe Plunkett, vice president, Mercury Embedded. “We’re pleased to provide innovative, standards-based solutions aligned with defense technology growth areas that help our customers meet the challenges of today’s adversarial environments.”

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, 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 was the recent order Mercury Systems received?

Mercury Systems received a $3.6 million order for EO/IR image processing systems from a leading defense contractor.

What is the significance of the EO/IR technology announced by Mercury?

The EO/IR technology enhances pilots' situational awareness during airborne missions, providing tactical advantages.

When was the order booked by Mercury Systems?

The order was booked in the Company's fiscal 2022 second quarter.

What does the recent order mean for Mercury Systems' fiscal outlook?

The order is expected to be shipped over the next several quarters, contributing positively to Mercury's fiscal performance.