Mercury Systems Secures $40M Flight Controller Design Win
January 03 2019 - 4:15PM
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.
For more information, visit www.mrcy.com or contact Mercury at
(866) 627-6951 or info@mrcy.com.
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 /
rmcgrail@mrcy.com
Mercury Systems is a trademark and Innovation That Matters is a
registered trademark of Mercury Systems, Inc. Other product and
company names mentioned may be trademarks and/or registered
trademarks of their respective holders.
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