Welcome to our dedicated page for Mercury Systems news (Ticker: MRCY), a resource for investors and traders seeking the latest updates and insights on Mercury Systems stock.
Mercury Systems Inc., trading under the symbol MRCY on Nasdaq, is at the forefront of revolutionizing the defense electronics market with its next-generation business model. As a commercial technology provider serving the aerospace and defense sectors, Mercury Systems delivers secure, open architecture solutions critical to mission success in harsh environments. These solutions power a variety of applications, including mission computing, sensor processing, command and control, and communications.
Headquartered in Andover, Massachusetts, Mercury Systems boasts a global presence with 24 locations worldwide and products deployed in over 300 programs across 35 countries. The company is dedicated to making advanced technologies more accessible, ensuring that data is turned into actionable decisions quickly and effectively. Their core business involves the development and delivery of secure sensor and safety-critical processing subsystems optimized for both customer and mission success.
Mercury Systems has a rich history of innovation, evidenced by recent advancements such as the ARES-SAR radar environment simulator, which enhances radar system testing and training. Additionally, their Mercury Processing Platform enables clients to leverage capabilities from silicon to system scale, further cementing their role as a key player in the defense and aerospace industry.
Financially, Mercury Systems remains robust, with a significant backlog of $1.29 billion as of March 2024, reflecting strong customer demand. Despite challenges, the company has shown resilience by focusing on operational efficiencies and strategic growth, aiming to deliver above-average industry growth and profitability in the long term.
Partnerships play a vital role in Mercury’s strategy. Collaborations with giants like Raytheon and BlueHalo underscore Mercury's capabilities in delivering advanced defense solutions. Notably, Mercury’s hardware supports Raytheon’s LTAMDS radars and BlueHalo's BADGER system for the U.S. Space Force’s SCAR program.
Mercury Systems continuously innovates, as seen with the DRF2580 SOM, which significantly enhances RF spectrum processing at the edge, and the recent production of embedded computing technologies for Lockheed Martin’s F-35 program in Switzerland. These developments highlight Mercury’s commitment to providing cutting-edge technology and supporting the strategic missions of its customers.
In summary, Mercury Systems Inc. stands as a pivotal force in the defense electronics sector, driving innovation and delivering mission-critical solutions that support the safety and security of nations worldwide.
Mercury Systems, Inc. (NASDAQ: MRCY) announced a three-year basic ordering agreement (BOA) valued up to $50 million from the Naval Air Systems Command (NAVAIR) for engineering services and product supply for its Advanced Data Transfer System (ADTS). This technology facilitates secure data transfer and analysis for military aircraft. The agreement underscores Mercury's strong relationship with NAVAIR and highlights its role as a key supplier in aerospace and defense. Work will be conducted at the company's facility in Torrance, California.
Mercury Systems, Inc. (NASDAQ: MRCY) announced a $25 million contract from a top defense contractor for high-performance RF subsystems for electronic warfare applications. This contract, awarded in the fiscal 2022 fourth quarter, emphasizes Mercury's capability to deliver cost-effective, advanced technologies that enhance pilots' situational awareness. The RF subsystems are set for shipment over the coming quarters, highlighting Mercury's established reputation for speed in production and technical expertise in military-grade solutions.
Mercury Systems, Inc. (NASDAQ: MRCY) has secured a $7.9 million order from a leading defense contractor for high-performance embedded processing systems aimed at ground-based radar applications. This order was received in the third quarter of fiscal 2022 and will be shipped over the next few quarters. The company emphasizes that its advanced signal processing systems play a crucial role in military operations, providing high-resolution data in challenging environments to protect forces from air and missile threats.
Mercury Systems (NASDAQ: MRCY) announced its participation in the 42nd Annual William Blair Growth Stock Conference, set for June 7, 2022, in Chicago. Management will present a comprehensive overview of the company at 11:20 a.m. CT. The presentation will be webcast live, accessible via the investor section of Mercury’s website, with a replay available for 30 days following the event. Mercury is known for its secure mission-critical technologies for the aerospace and defense sectors, driven by a commitment to Innovation That Matters.
Mercury Systems (MRCY) has launched the Avionics Modular Mission Platform (AMMP), a 3U OpenVPX™ mission computer that is SOSA aligned and DAL-certifiable. AMMP features Intel® Core™ i7 processors and boasts 40x the performance of existing avionics systems while consuming 50% less power. Designed for various platforms, including aircraft and UAVs, AMMP aims to enhance decision-making for pilots through advanced AI capabilities. This system aligns with the Department of Defense's modular open systems approach, potentially increasing operational efficiency and reducing long-term costs.
Mercury Systems Inc. (NASDAQ: MRCY) and Lockheed Martin (NYSE: LMT) have announced a collaboration to develop sensor processing technologies at Mercury's facility in Geneva, Switzerland. This contract, valued at $40 million, is part of Switzerland's procurement of 36 F-35A Lightning II aircraft under the Air 2030 program. The partnership aims to enhance airborne defense systems and support local industry, ultimately benefiting Switzerland's economy and contributing to secure military technology development.
Mercury Systems reported strong third-quarter results for fiscal 2022, with record bookings of $295 million, a 41% year-over-year increase and a book-to-bill ratio of 1.17. The backlog rose to $996 million, positioning the company for future organic growth. However, revenues slightly declined to $253.1 million from $256.9 million year-over-year, with net income dropping to $4.1 million or $0.07 per share. Adjusted EPS was $0.57. The company has increased its revolving credit facility to $1.1 billion to support growth strategies.
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.
Mercury Systems (NASDAQ: MRCY) recently held a ribbon-cutting ceremony for its expanded microelectronics packaging center in Phoenix, Arizona. This state-of-the-art facility aims to strengthen the company's U.S. manufacturing capabilities for trusted, secure microelectronics. The expansion is part of Mercury's role in the Department of Defense's SHIP program, highlighting its commitment to domestic production. Attendees included Congressman Ruben Gallego and Arizona Chamber of Commerce CEO Danny Seiden, showcasing support for local economic development and national security interests.
Mercury Systems (NASDAQ: MRCY) announced its selection to provide advanced packaging for the Department of Defense's SHIP program, aimed at enhancing U.S. microelectronics capabilities. The contract, awarded by NSWC Crane, facilitates collaboration with industry leaders to develop secure and cost-effective technology. The company highlighted its ongoing investment in microelectronics and will open a new packaging facility in Phoenix on April 20, 2022. This initiative aligns with the DoD's commitment to accelerate innovation while engaging trusted partners.
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