CHELMSFORD, Mass., July 16, 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 it has received the coveted Supplier Excellence Award from Raytheon's Integrated Defense Systems (IDS) business unit. The special Affordability award recognizes the Company for working in partnership with Raytheon to identify cost reduction opportunities and ensure market competitiveness for the Patriot Air and Missile Defense program.
Raytheon's IDS business unit instituted the annual Supplier Excellence Awards program to recognize suppliers who have provided outstanding service and partnership in exceeding customer requirements. Six new award categories were introduced this year with Gold, Silver and Bronze distinction that align to key initiatives of the Raytheon IDS business strategy; continuous improvement, innovation, affordability, global growth, partnership and flawless execution. Suppliers were nominated by the programs, and key members of the Integrated Supply Chain and Quality organizations reviewed the nominations for award selection. Mercury Systems was recognized for the Affordability Bronze award for working in partnership with Raytheon to identify cost reduction opportunities to ensure market competitiveness.
"We're honored to be recognized as a Strategic Partner to Raytheon," said Brian Perry, Vice President of Mercury's Services and System Integration Group. "Mercury has been a key supplier of OpenVPX™-based radar subsystems for Raytheon's Patriot Air and Missile Defense System since 2009. Like Raytheon, Mercury is committed to delivering innovative, affordable solutions that provide both a strategic and tactical advantage for the warfighter."
The new Radar Digital Processor (RDP), part of the OpenVPX-based radar subsystem developed by Mercury for Patriot, is a key upgrade that facilitates Patriot's new capabilities while reducing total ownership cost. The upgrade replaces 12,000 discrete analog and digital signal processing components with a 12-part ruggedized commercial off-the-shelf processor, significantly reducing size, weight and power requirements of the subsystem. The new RDP increases the reliability of the digital processing system and related analog components by 10 fold, resulting in a predicted 40 percent increase in overall radar reliability. More importantly, it enables future capabilities through software upgrades, including digital sidelobe cancelling, organic combat identification, improved target detection, multifunction surveillance and the full support of advanced PAC-3 missile enhancements.
For more information on Patriot, visit www.raytheon.com/capabilities/products/patriot/. For more information on Mercury's high performance signal and image processing solutions, visit www.mrcy.com or contact Mercury at (866) 627-6951 or info@mrcy.com.
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 restructurings 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 made.
Mercury Systems and Innovation That Matters are trademarks of Mercury Systems, Inc. Other product and company names mentioned may be trademarks and/or registered trademarks of their respective holders.
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