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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 Inc. (NASDAQ: MRCY) has announced it will release its fourth quarter and full fiscal year 2024 financial results after market close on August 13, 2024. The company will host a conference call and webcast at 5:00 p.m. ET on the same day to discuss the results, business highlights, and outlook. Management may also address questions about business and financial developments, trends, and earnings forecasts.
Participants can register for the call or webcast at ir.mrcy.com/events-presentations. A replay will be available two hours after the call and archived for six months. Mercury Systems, headquartered in Andover, Massachusetts, is a technology company providing mission-critical processing power for aerospace and defense missions, with products deployed in over 300 programs across 35 countries.
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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