CHELMSFORD, Mass., Aug. 27, 2014 (GLOBE NEWSWIRE) -- Mercury Systems, Inc. (Nasdaq:MRCY) (www.mrcy.com), a leading provider of affordable, commercially developed, open sensor processing systems and services for critical commercial, defense and intelligence applications, announced it had received a $27 million purchase order relating to a sensor processing application. The order was booked in the Company's fiscal 2015 first quarter and is expected to be shipped by its fiscal 2016 first quarter. The order follows on the heels of a $39 million order received in the Company's fiscal 2014 fourth quarter, also from a leading defense prime contractor, for radar subsystems for a missile defense application. That order is expected to be shipped over the next several quarters.
"Mercury's outstanding working relationships with its customers, forged through years of close collaboration, continue to help drive the success of these strategic programs and reaffirms our leadership in critical radar subsystems both on airborne and ground-based platforms," said Didier Thibaud, President of Mercury's Commercial Electronics business unit. "Our collaborative approach enables our customers to continue leveraging Mercury's commercially developed open architecture-based signal processing technology to realize faster time to market and a lower total cost of ownership for their programs."
Mercury Systems – Innovation That Matters™
Mercury Systems (Nasdaq:MRCY) is the better alternative for affordable, commercially developed, open sensor processing systems and services. These capabilities make us the first commercially based defense electronics company built to meet rapidly evolving next generation defense challenges. Mercury Systems has worked on over 300 programs, including Aegis, Patriot, SEWIP, Gorgon Stare and Predator/Reaper. We are based in Chelmsford, Massachusetts with additional advanced manufacturing and other key facilities across the USA. To learn more, visit www.mrcy.com.
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. 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 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 due to performance quality issues with outsourced components, inability to fully realize the expected benefits from acquisitions, divestitures and restructurings, or delays in realizing such benefits, challenges in integrating acquired businesses and achieving anticipated synergies, changes to export regulations, increases in tax rates, 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, 2014. 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.
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CONTACT: Robert McGrail, Director of Corporate Communications Mercury Systems, Inc. +1 978-967-1366 / firstname.lastname@example.org
Source:Mercury Systems, Inc.