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 has launched the Model 5503 Sensor Open Systems Architecture™ (SOSA) aligned high-speed 3U VPX synchronizer module. This optimized commercial-off-the-shelf (COTS) solution addresses the complexities of synchronization in beamforming and phased-array applications across radar, electronic warfare, and communications sectors. The module can synchronize up to 32 channels, showcasing advanced integration and reduced development costs for users. Its SOSA alignment supports interoperability and rapid technology insertion, aligning with the Consortium's goals.
Mercury Systems has announced the acquisition of Atlanta Micro, a leader in RF modules and components, for an undisclosed cash amount. This strategic acquisition aims to enhance Mercury's portfolio in electronic warfare, radar, and weapons markets. Atlanta Micro is projected to contribute approximately $16 million in revenue for the year ending December 31, 2022, with adjusted EBITDA margins exceeding 30%. The deal, funded through Mercury’s revolving credit facility, is expected to be immediately accretive to adjusted EPS and supports Mercury's growth strategy in trusted microelectronics.
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.
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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.