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 quarte
Defense electronics specialist Mercury Systems (NASDAQ: MRCY) ran into supply chain and cost pressures in its most recent quarter, and investors are selling the stock as a result. Shares of Mercury opened down as much as 20% on Wednesday, creating a potential buying opportunity for long-term-focused investors. Mercury manufactures a range of sophisticated electronics systems and applications for the aerospace and defense sector.
Mercury Systems' (MRCY) fourth-quarter top line is hurt by contracting delays and supply-chain constraints, while increased component costs weigh on the bottom line.