Mercury Systems Receives $2.3M Order From US Navy for DRFM Jammers
CHELMSFORD, Mass., August 19, 2013 (GLOBE NEWSWIRE) -- Mercury Systems, Inc.
(Nasdaq:MRCY) (www.mrcy.com), a best-of-breed provider of commercially
developed, open sensor and Big Data processing systems for critical
commercial, defense and intelligence applications, announced that its Mercury
Defense Systems subsidiary has received a $2.3M delivery order from the U.S.
Navy for advanced Digital RF Memory (DRFM) jammers to support both U.S. Navy
and U.S. Air Force requirements. The order is part of the firm-fixed-price,
indefinite delivery/indefinite quantity (IDIQ) time and material contract
award worth up to $44.4M originally received by KOR Electronics (now Mercury
Defense Systems) in March 2010, which has been recently extended by the U.S
Navy for an additional 63 units for a total contract value of $56.7M. All
other terms and conditions remain unchanged from the original contract award.
"This award is a further acknowledgement of the Company's continuing effort to
support the warfighter," said Kevin Carnino, President, Mercury Defense
Systems. "Under this contract we will be producing a subset of our latest
radar jamming technology. We are anticipating an additional release of a new
multi-year IDIQ contract later this year, and will aggressively compete to
supply that requirement as well. For over twenty years, Mercury Defense
Systems' DRFM products have been used for self-protection, vulnerability
assessment, training and radar environment simulation. Our successful
performance under firm fixed price contracting is the cornerstone of our
For more information on Mercury Defense Systems, visit defense.mrcy.comor
contact Mercury at (866) 627-6951 or firstname.lastname@example.org.
Mercury Systems – Innovation That Matters^™
Mercury Systems (Nasdaq:MRCY) is a best-of-breed provider of commercially
developed, open sensor and Big Data processing systems, software and services
for critical commercial, defense and intelligence applications. We deliver
innovative solutions, rapid time-to-value and world-class service and support
to our prime contractor customers. Mercury Systems has worked on over 300
programs, including Aegis, Patriot, SEWIP, Gorgon Stare and Predator/Reaper.
We are based in Chelmsford, Massachusetts. To learn more, visit www.mrcy.com.
Forward-Looking Safe Harbor Statement
This press release contains certain forward-looking statements, as that term
is defined in the Private Securities Litigation Reform Act of 1995, including
those relating to the products and services described herein. You can identify
these statements by the use of the words "may," "will," "could," "should,"
"would," "plans," "expects," "anticipates," "continue," "estimate," "project,"
"intend," "likely," "forecast," "probable," and similar expressions. These
forward-looking statements involve risks and uncertainties that could cause
actual results to differ materially from those projected or anticipated. Such
risks and uncertainties include, but are not limited to, continued funding of
defense programs, the timing of such funding, general economic and business
conditions, including unforeseen weakness in the Company's markets, effects of
continued geopolitical unrest and regional conflicts, competition, changes in
technology and methods of marketing, delays in completing engineering and
manufacturing programs, changes in customer order patterns, changes in product
mix, continued success in technological advances and delivering technological
innovations, changes in the U.S. Government's interpretation of federal
procurement rules and regulations, market acceptance of the Company's
products, shortages in components, production delays due to performance
quality issues with outsourced components, inability to fully realize the
expected benefits from acquisitions and divestitures or delays in realizing
such benefits, challenges in integrating acquired businesses and achieving
anticipated synergies, changes to export regulations, increases in tax rates,
changes to generally accepted accounting principles, difficulties in retaining
key employees and customers, unanticipated costs under fixed-price service and
system integration engagements, and various other factors beyond our control.
These risks and uncertainties also include such additional risk factors as are
discussed in the Company's filings with the U.S. Securities and Exchange
Commission, including its Annual Report on Form 10-K for the fiscal year ended
June 30, 2012. The Company cautions readers not to place undue reliance upon
any such forward-looking statements, which speak only as of the date made. The
Company undertakes no obligation to update any forward-looking statement to
reflect events or circumstances after the date on which such statement is
Mercury Systems and Innovation That Matters are trademarks of Mercury Systems,
Inc. Other product and company names mentioned may be trademarks and/or
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CONTACT: Robert McGrail, Director of Corporate Communications
+1 978-967-1366 / email@example.com
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