Welcome to our dedicated page for Mercury Sys news (Ticker: MRCY), a resource for investors and traders seeking the latest updates and insights on Mercury Sys stock.
Mercury Systems Inc (NASDAQ: MRCY) delivers mission-critical processing solutions for aerospace and defense applications. This dedicated news hub provides investors and industry professionals with comprehensive coverage of corporate developments, technological breakthroughs, and strategic initiatives.
Access real-time updates including earnings reports, product launches, and partnership announcements. Our curated collection features official press releases alongside third-party analysis of Mercury's innovations in secure sensor processing, RF digitization, and defense electronics.
Key updates cover system deployments, R&D advancements, and executive leadership changes. Bookmark this page to monitor Mercury Systems' progress in developing secure open architecture solutions for next-generation defense platforms and aerospace technologies.
Mercury Systems announced the launch of a new NAND flash non-volatile memory device designed for extreme environments, particularly suitable for applications in space. This device meets NASA's EEE-INST-002 guidelines and offers 32 GB of high-capacity storage, making it ideal for data-intensive tasks like artificial intelligence and machine learning. The memory's reliability minimizes field failures, and its size, weight, and power profile optimize usage in constrained spaces. This innovation fosters growth in satellite technology and the broader space economy.
Mercury Systems (NASDAQ: MRCY) has completed its acquisition of Avalex Technologies, enhancing its position in the aerospace and defense sector. The deal, an all-cash transaction subject to net working capital and net debt adjustments, was financed through existing cash and a revolving credit facility. This acquisition aims to meet the rising demand for digitally converged solutions in the C4I and platform/mission management markets. Mercury's CEO, Mark Aslett, expressed confidence in the integration process and the strategic alignment of this acquisition with the company's growth objectives.
In its first quarter of fiscal 2022, Mercury Systems (MRCY) reported revenues of $225 million, a 9% increase compared to the previous year. The company experienced a GAAP net loss of $7.1 million or $(0.13) per share. Adjusted EPS was $0.41, down from $0.51 year-over-year. Notably, total bookings were $199.3 million, resulting in a book-to-bill ratio of 0.89. Despite challenges such as potential defense budget delays and supply chain issues, Mercury expects revenues for the second quarter to range between $215 million and $225 million.
Mercury Systems has appointed Roger Wells as Executive Vice President and President of the Microelectronics division, effective November 1, 2021. With over 25 years in aerospace and defense, Wells aims to expand the company's microelectronics business. His previous experience includes leadership roles at Teledyne FLIR and Northrop Grumman, along with a background in C4ISR systems for the DoD. President and CEO Mark Aslett expressed confidence in Wells' expertise to drive innovation and growth within Mercury's technology solutions.
Mercury Systems has launched the Model 8257A Development Platform, designed to enhance the rapid prototyping of SOSA-aligned RFSoC-based Quartz modules. This platform features a single-slot 3U VPX backplane and an integrated power supply, streamlining sensor processing application development.
Engineers can leverage this platform to simplify system requirements and develop software for SOSA aligned systems. It accommodates conduction cooled boards and integrates with tools like Xilinx’s Vivado and Mercury’s Navigator Design Suite, aiming to reduce development time and costs in aerospace and defense sectors.
Mercury Systems, Inc. (NASDAQ: MRCY) announced the election of Debora A. Plunkett, a former NSA information assurance director, to its Board of Directors, enhancing its cybersecurity expertise as the company focuses on digital transformation. Concurrently, Vincent Vitto retired as Chairman, with William K. O'Brien appointed as his successor. This leadership transition marks a significant moment for Mercury, with eight of nine board members being independent directors, reflecting a commitment to governance and innovation in the aerospace and defense technology sector.
Mercury Systems Inc. (NASDAQ: MRCY) is set to announce its first quarter fiscal year 2022 financial results on November 2, 2021, after market close. A conference call and webcast will follow at 5:00 p.m. ET to discuss the results, business highlights, and outlook. Participants can register for the call online, and a replay will be available shortly after the event. Mercury Systems, based in Andover, Massachusetts, specializes in secure technology solutions for the aerospace and defense sectors, focusing on mission-critical applications.
Mercury Systems (MRCY) has appointed Mitch Stevison as the new executive vice president and chief growth officer, effective October 4, 2021. Dr. Stevison, a 20-year U.S. Army veteran with extensive aerospace and defense experience, will report to CEO Mark Aslett and will be responsible for driving the company's growth strategy. His past roles include vice president of Strategy at Raytheon Missiles & Defense, where he developed business strategies and evaluated investment opportunities.
Mercury Systems has announced its acquisition of Avalex Technologies, a provider of mission-critical avionics, for an undisclosed cash amount.
This strategic move aims to enhance Mercury's capabilities in military digital convergence and expand its avionics offerings, including innovative products like integrated smart displays and communications management systems.
Avalex is projected to generate approximately $40 million in revenue with 25% adjusted EBITDA margins in 2022, while the acquisition is expected to be immediately accretive to adjusted EPS.
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