Welcome to our dedicated page for Mercury Systems news (Ticker: MRCY), a resource for investors and traders seeking the latest updates and insights on Mercury Systems stock.
Mercury Systems Inc. develops secure open-architecture processing technology for aerospace and defense missions. The company’s Mercury Processing Platform spans signal processing, mission computing, sensor processing, command and control, communications, solid-state data recording, and edge processing applications used by defense prime contractors, the U.S. government, original equipment manufacturers, and commercial aerospace customers.
Recurring Mercury Systems news covers quarterly results, bookings, backlog, cash flow, and program demand, along with contract awards tied to space, strategic weapons, satellite, and electronic warfare applications. Company updates also include production capacity actions, specialized manufacturing capabilities such as the SolderMask acquisition, and product activity around radiation-hardened or radiation-tolerant storage and processing subsystems, RF modules, ARES radar environment simulators, and mPOD jammer training pods.
Mercury Systems announces the appointment of two new independent directors, Howard Lance and Bill Ballhaus, to its Board of Directors. This move follows cooperation agreements with Jana Partners and Starboard Value. Both directors bring extensive experience in the aerospace and defense sectors, enhancing the Board's expertise. The Board will expand temporarily to 11 members, reflecting ongoing efforts for broader insight and governance. CEO statements highlight confidence in Mercury’s strategic positioning within the defense industry and its commitment to delivering value for stakeholders.
Mercury Systems has been selected by Ball Aerospace to enhance data recording and storage for the MethaneSAT satellite, aimed at monitoring methane emissions. This partnership will leverage Mercury's high-density solid-state data recorder designed to perform in challenging space conditions. The MethaneSAT initiative, backed by the Environmental Defense Fund, is critical for tracking and reducing methane emissions to combat climate change. Mercury’s technology will ensure high performance and data integrity, contributing significantly to environmental sustainability efforts.
Mercury Systems has launched new low-power, ultra-compact tuner modules, the AM9018 and AM9030, designed for mission-critical applications in signals intelligence (SIGINT), direction finding (DF), and test and measurement. These modules enhance broadband RF processing in constrained environments such as UAVs and portable SIGINT systems. They feature a size comparable to a stack of credit cards and provide a 1 GHz instantaneous bandwidth for rapid signal interception. This development stems from the custom MMIC capabilities acquired with Atlanta Micro.
Mercury Systems, Inc. (NASDAQ: MRCY) announced a three-year basic ordering agreement (BOA) valued up to $50 million from the Naval Air Systems Command (NAVAIR) for engineering services and product supply for its Advanced Data Transfer System (ADTS). This technology facilitates secure data transfer and analysis for military aircraft. The agreement underscores Mercury's strong relationship with NAVAIR and highlights its role as a key supplier in aerospace and defense. Work will be conducted at the company's facility in Torrance, California.
Mercury Systems, Inc. (NASDAQ: MRCY) announced a $25 million contract from a top defense contractor for high-performance RF subsystems for electronic warfare applications. This contract, awarded in the fiscal 2022 fourth quarter, emphasizes Mercury's capability to deliver cost-effective, advanced technologies that enhance pilots' situational awareness. The RF subsystems are set for shipment over the coming quarters, highlighting Mercury's established reputation for speed in production and technical expertise in military-grade solutions.
Mercury Systems, Inc. (NASDAQ: MRCY) has secured a $7.9 million order from a leading defense contractor for high-performance embedded processing systems aimed at ground-based radar applications. This order was received in the third quarter of fiscal 2022 and will be shipped over the next few quarters. The company emphasizes that its advanced signal processing systems play a crucial role in military operations, providing high-resolution data in challenging environments to protect forces from air and missile threats.
Mercury Systems (NASDAQ: MRCY) announced its participation in the 42nd Annual William Blair Growth Stock Conference, set for June 7, 2022, in Chicago. Management will present a comprehensive overview of the company at 11:20 a.m. CT. The presentation will be webcast live, accessible via the investor section of Mercury’s website, with a replay available for 30 days following the event. Mercury is known for its secure mission-critical technologies for the aerospace and defense sectors, driven by a commitment to Innovation That Matters.
Mercury Systems (MRCY) has launched the Avionics Modular Mission Platform (AMMP), a 3U OpenVPX™ mission computer that is SOSA aligned and DAL-certifiable. AMMP features Intel® Core™ i7 processors and boasts 40x the performance of existing avionics systems while consuming 50% less power. Designed for various platforms, including aircraft and UAVs, AMMP aims to enhance decision-making for pilots through advanced AI capabilities. This system aligns with the Department of Defense's modular open systems approach, potentially increasing operational efficiency and reducing long-term costs.
Mercury Systems Inc. (NASDAQ: MRCY) and Lockheed Martin (NYSE: LMT) have announced a collaboration to develop sensor processing technologies at Mercury's facility in Geneva, Switzerland. This contract, valued at $40 million, is part of Switzerland's procurement of 36 F-35A Lightning II aircraft under the Air 2030 program. The partnership aims to enhance airborne defense systems and support local industry, ultimately benefiting Switzerland's economy and contributing to secure military technology development.
Mercury Systems reported strong third-quarter results for fiscal 2022, with record bookings of $295 million, a 41% year-over-year increase and a book-to-bill ratio of 1.17. The backlog rose to $996 million, positioning the company for future organic growth. However, revenues slightly declined to $253.1 million from $256.9 million year-over-year, with net income dropping to $4.1 million or $0.07 per share. Adjusted EPS was $0.57. The company has increased its revolving credit facility to $1.1 billion to support growth strategies.