Mercury Systems Secures $40M Flight Controller Design Win
ANDOVER, Mass., Jan. 03, 2019 (GLOBE NEWSWIRE) -- Mercury Systems, Inc. (NASDAQ: MRCY, www.mrcy.com ) announced it secured a design win for advanced, safety certifiable flight controllers from an international aerospace company with an anticipated lifetime value of $40 million over the ten-year period of the contract. An initial $9 million contract received in the Company’s fiscal 2019 second quarter also includes funding for ground support processing segments, and work will be performed through fiscal 2020. The flight controllers require the highest level of flight safety certification for platform missions within civilian airspace. Both air and ground-based units require flight safety certification to the highest Design Assurance Level of A/B (DAL-A/B).
“Mercury’s proven BuiltSAFE™ technologies enabled our customer to demonstrate a highly differentiated processing solution with reduced overall program risk,” said Ike Song, Mercury’s Vice President and General Manager for Mercury Mission Systems. “Our organization-wide flight safety culture and extensive European Aviation Safety Agency (EASA), Federal Aviation Administration (FAA), Joint Aviation Authorities (JAA) and Transport Canada agency experience enabled us to work quickly and closely with our customer to meet a tight program schedule.”
Mercury leveraged their pre-engineered, open systems architecture BuiltSAFE building blocks to configure the necessary processing elements to meet the rigorous program schedule, while building in the critical flight safety assurance required for platform operation within civilian airspace.
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.
Contact:Robert McGrail, Director of Corporate CommunicationsMercury Systems, Inc.+1 978-967-1366 / email@example.com
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