CHELMSFORD, Mass., Oct. 16, 2012 (GLOBE NEWSWIRE) -- KOR Electronics, a subsidiary of Mercury Computer Systems, Inc. (Nasdaq:MRCY) (www.mc.com), announced today that it has received a 5 year sole source basic ordering agreement (BOA) from the U.S. Navy. This BOA supports the continued development of state-of-the-art techniques and target generation capabilities in conjunction with the advanced Digital RF Memory (DRFM) architecture developed under a prior Small Business Innovation Research (SBIR) Phase II.5 award issued to KOR Electronics. The BOA provides for research and development, production, engineering services and ongoing support and is valued at up to $58M.
"This agreement is a perfect example of how the SBIR program can benefit our country's defense and small business," said Kevin Carnino, KOR Electronics President and Chief Executive Officer. "Under this agreement we will be producing a subset of our latest advanced radar jammer equipment. Our successive and continuing technology development allows us to continually provide state of the art performance and best value to our customers and ultimately to the warfighter."
For more information on KOR's innovative digital RF solutions, visit korelectronics.com.
About KOR Electronics
KOR Electronics (www.korelectronics.com), a subsidiary of Mercury Computer Systems, is a leading supplier of subsystem-level solutions for defense prime contractors supporting the worldwide Defense and Intelligence communities. KOR is headquartered in Cypress, California.
Mercury Computer Systems, Inc. – Where Challenges Drive Innovation®
Mercury Computer Systems (www.mc.com) (Nasdaq:MRCY) is a best-of-breed provider of commercially developed, open sensor and Big Data processing systems, software and services for critical commercial, defense and intelligence applications. With over 30 years of experience in embedded computing, superior domain expertise in radar, EW, SIGINT, EO/IR and C4I applications, and more than 300 successful program deployments, Mercury's Services and Systems Integration (SSI) team leads the industry in partnering with defense prime contractors to design and integrate system-level solutions that minimize program risk, maximize application portability, and accelerate customers' time to market.
Mercury is based in Chelmsford, Massachusetts, and serves customers worldwide through a broad network of direct sales offices, subsidiaries, and distributors.
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 contract 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," 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 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 the U.S. Government's interpretation of federal 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 and divestitures 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, 2012. 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.
Challenges Drive Innovation is a registered trademark of Mercury Computer Systems, Inc.
CONTACT: Robert McGrail, Director of Corporate Communications Mercury Computer Systems, Inc. +1 978-967-1366 / firstname.lastname@example.org
Source:Mercury Computer Systems