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 a $13.2 million contract with the U.S. Navy to advance sensor processing technologies, aiming to reduce electronic warfare (EW) design timelines. This agreement under the Office of Naval Research's Open Rapid Chipletized Approach (ORCA) program focuses on developing a next-generation RF System-in-Package (SiP). The new SiP will integrate commercial chips from major semiconductor providers, resulting in a smaller and lighter footprint. The project builds on Mercury's existing RFS1140 SiP, incorporating advanced components like AMD Versal FPGA, Jariet Electra-MA high-speed data converters, and Micron memory. Mercury's innovations seek to rapidly upgrade systems across various platforms, enhancing the speed of fielding next-generation radar and EW capabilities.
Mercury Systems (NASDAQ: MRCY) announced the appointment of Tod Brindlinger as Senior VP of Operations, effective June 10, 2024. He will oversee global manufacturing, facilities, and supply chain, reporting to COO Roger Wells. With over 30 years of experience, Brindlinger has held key roles at L3Harris Technologies, Paradigm Precision, Ducommun, and United Technologies
Mercury also completed the second phase of its organizational restructuring, started in January, aimed at improving performance and growth by simplifying operations. The restructuring is expected to save $15 million, part of which will be reinvested, enhancing profitability for FY 2025. The company has streamlined operations into three main business units and centralized key functions, aiming for better efficiency and innovation.
These changes are intended to strengthen Mercury's ability to deliver mission-critical processing power and advanced technologies for aerospace and defense applications.
Green Hills Software and Mercury Systems (Nasdaq: MRCY) have announced that their INTEGRITY-178 tuMP safety-critical real-time operating system (RTOS) has entered the verification phase for DO-178C and AC 20-193 airworthiness certification on Intel's 11th Gen Core i7 processors. This step follows the successful delivery of a Plan for Software Aspects of Certification (PSAC). The system is set to become the first certified on this processor for DO-178C DAL A standards. The first customer is a US Army aviation program, with potential for broader adoption. Production systems are expected by the end of next year. INTEGRITY-178 tuMP has been available since 2021 and is recognized for its high multicore utilization and low lifecycle cost.
Mercury Systems, Inc. reported Q3 FY24 revenue of $208.3 million with a book-to-bill ratio of 1.06. The company had a record backlog of $1.3 billion, up 17% year-over-year. GAAP net loss was ($44.6) million, and adjusted EBITDA was ($2.4) million. Total bookings were $219.9 million. Cash flows used in operating activities were $17.8 million. Backlog at March 29, 2024, was $1.29 billion, a $190.5 million increase from the previous year. The company expects revenue in the range of $800.0 million to $850.0 million for full fiscal year 2024.
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