ANDOVER, Mass. – Sept. 27, 2018 – Mercury Systems, Inc. (NASDAQ: MRCY, www.mrcy.com) announced that it received a $9.2 million follow-on order from a leading defense prime contractor for custom-engineered radiation-tolerant solid-state drives (SSD) for a defense data storage application. The order was booked in the Company’s fiscal 2019 first quarter. Mercury Systems has received orders for this custom SSD exceeding $20 million since initial product announcement in March of calendar year 2018.
Designed and manufactured in its Phoenix, Ariz. Advanced Microelectronics Center, the Company has developed the only commercial SSD optimized for applications with routine exposure to damaging ionizing radiation. The Company’s TRRUST-Stor® VPX RT SSD product leverages SpaceVPX architecture to facilitate integration with an ecosystem of interoperable products optimized for the unique demands of space applications. Mercury’s entire suite of SSD devices, including the TRRUST-Stor® VPX RT device, was engineered for the rapid commercialization of product variants meeting customer-defined form factors, ruggedization requirements and security features.
“This follow-on order is further validation of Mercury’s market-leading position in the development and commercialization of innovative, affordable and highly reliable microelectronics for space applications,” said Iain Mackie, Vice President and General Manager of Mercury’s Microelectronics Secure Solutions group. “Our core expertise in military-grade storage solutions, coupled with our next-generation business model, uniquely positions Mercury to capitalize on the growing space market while unlocking value to defense prime contractors, government agencies and the U.S. warfighter.”
Mercury Systems – Innovation That Matters™
Mercury Systems is a leading commercial provider of secure sensor and safety-critical processing subsystems. Optimized for customer and mission success, Mercury’s solutions power a wide variety of critical defense and intelligence programs. Headquartered in Andover, Mass., Mercury is pioneering a next-generation defense electronics business model specifically designed to meet the industry’s current and emerging technology needs. 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 fiscal 2019 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 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 U.S. Government’s interpretation of, federal export contractor 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 cyber-security regulations and requirements, changes in tax rates or tax regulations, 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, 2018. 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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Robert McGrail, Director of Corporate Communications
Mercury Systems, Inc.
+1 978-967-1366 / [email protected]
Mercury Systems and Innovation That Matters are trademarks of Mercury Systems, Inc. Other product and company names mentioned may be trademarks and/or registered trademarks of their respective holders.