Mercury Systems receives $7.4M order for cockpit multi-function display technology

Rhea-AI Summary

Mercury Systems, Inc. (NASDAQ: MRCY) announced a $7.4 million order from a leading defense contractor for active matrix LCD modules, aimed at enhancing multi-function display cockpit applications. Expected to be delivered over several quarters, this order reflects Mercury's innovative technology solutions designed for aerospace and defense. The modules are recognized for their reliability and high-resolution features, essential for advanced fighter aircraft operations. This contract signifies Mercury's alignment with the National Defense Strategy and its commitment to delivering safe airborne technologies.

Positive

• Received a $7.4 million order from a defense contractor for LCD modules.
• Modules enhance multi-function display functionalities for advanced fighter aircraft.
• Recognized for high reliability and fast-switching speed.

Negative

• None.

ANDOVER, Mass., March 03, 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 $7.4 million order from a leading defense prime contractor for active matrix LCD (AMLCD) modules to be used in a large area multi-function display cockpit application. The order was received in Mercury’s fiscal 2022 second quarter and is expected to be delivered over the next several quarters.

Why It Matters
Mercury’s high-resolution, rugged LCD modules are well-known in the industry for their fast-switching speed and reliability enabling pilots to clearly see and respond to moving targets.

“Advanced fighter aircraft require large, high quality and intuitive displays to integrate and visualize sensor, navigation and mission data to maximize pilot efficiency,” said Jay Abendroth, vice president, Mercury Mission. “Our award of this order underscores our innovative approach in providing a complete ecosystem of safe airborne technologies to the Navy, Air Force, and foreign military sales using cutting-edge display technology built with supply chain integrity and long-term program lifecycle support. With a transformational business model at the intersection of high tech and defense uniquely aligned with the National Defense Strategy, Mercury has created a competitive advantage through significant investment and its unparalleled ability to deliver customer solutions with innovation and speed.”

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 recent order did Mercury Systems announce regarding LCD technology?

Mercury Systems announced a $7.4 million order for active matrix LCD modules from a leading defense contractor.

How does the new order impact Mercury Systems' business outlook?

The order is expected to enhance Mercury's revenue and aligns with its strategic focus on aerospace and defense technologies.

What are the applications of the LCD modules ordered by Mercury Systems?

The LCD modules will be used in large area multi-function display cockpit applications for advanced fighter aircraft.

When is the delivery expected for the recent LCD modules order?

The delivery of the order is expected to take place over the next several quarters.