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Mercury Systems receives $12M order for advanced packaging of GPS modules

·4-min read
Mercury Systems Inc
Mercury Systems Inc

ANDOVER, Mass., Aug. 09, 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 $12 million order from a leading defense prime contractor to provide advanced trusted and secure manufacturing and packaging for their GPS modules. The GPS modules will enable precision munition capabilities for the U.S. Army. The order was booked in the Company’s fiscal 2022 fourth quarter and is expected to be shipped over the next several quarters.

Why It Matters
As GPS is heavily utilized throughout high-precision operations, general navigation, and situational awareness, trusted location information is vital.

“We are honored to provide our customers with ultra-small, ultra-light packaging technology ruggedized for extreme environments,” said Tom Smelker, vice president and general manager, Mercury Microsystems. “Receiving this prominent order is a compelling demonstration of how the exponential power of Mercury makes trusted, secure manufacturing profoundly more accessible to aerospace and defense.”

The Company has successfully developed and commercialized an entire portfolio of microelectronics solutions ruggedized for modern defense applications without sacrificing size, weight or power. This comprehensive portfolio includes ultra-compact memory devices, military-grade secure solid-state drives (SSD), GPS solutions and BuiltSECURE™ System in Package (SiP) devices integrating advanced security algorithms. All of Mercury’s digital microelectronics solutions are designed and manufactured in a Defense Microelectronics Activity (DMEA)-accredited facility for design, packaging, test and broker services.

Mercury envisions, creates and delivers innovative technology solutions purpose-built to meet their customers’ most pressing high-tech needs. For additional information or purchase inquiries, visit mrcy.com, or contact Mercury at (866) 627-6951 or info@mrcy.com.

Mercury Systems – Innovation That Matters®
Mercury Systems is a technology company that delivers commercial innovation to rapidly transform the global aerospace and defense industry. From data to decision, silicon to systems, A&D leaders turn to the products, services, technologies and people that comprise the secure, end-to-end Mercury processing platform—the exponential power that connects customers to what matters most. Innovation That Matters®. By and For People Who Matter. 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 described herein and to fiscal 2021 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 USS Government’s interpretation of, federal export control or procurement rules and regulations, market acceptance of the Company’s products, shortages in components, production delays or unanticipated expenses due to performance quality issues with outsourced components, inability to fully realize the expected benefits from acquisitions and restructurings, or delays in realizing such benefits, challenges in integrating acquired businesses and achieving anticipated synergies, 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 USS Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended July 3, 2020. 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, Innovation That Matters and EchoCore are registered trademarks of Mercury Systems, Inc. Xilinx and Versal are trademarks of Xilinx. OpenVPX is a trademark of VITA. Other product and company names mentioned may be trademarks and/or registered trademarks of their respective holders.