Mercury Computer Systems Reports Third Quarter FY08 Results

CHELMSFORD, Mass. , April 23 /PRNewswire-FirstCall/ -- Mercury Computer Systems, Inc. (NASDAQ: MRCY) reported results for its third quarter of fiscal 2008, which ended March 31, 2008 . Third quarter revenues were $56.5 million , up 7...

"In the near term, we expect to continue improving the underlying operations of the business and generating cash flow from operations," Mr. Aslett said. "We will also continue to seek opportunities to focus the business and rationalize our portfolio. At the same time, we expect to develop and launch new products in ACS that will support future growth. These initiatives are longer-term efforts, where progress will be made incrementally, quarter by quarter, by consistently improving execution."

Third Quarter Highlights

February -- Mercury announced three new additions to its management team: Alex Van Adzin as Vice President and General Counsel, Leon Woo as Vice President of Engineering for ACS, and Stephen Anderson as Vice President of Product Operations for ACS. Mr. Van Adzin leads the overall direction and management of Mercury's legal affairs and is responsible for a broad range of corporate, legal, and regulatory functions essential to supporting Mercury's success. Messrs. Woo and Anderson, who previously worked together for 17+ years, are tasked with bringing an aligned understanding of engineering, supply chain and product management that will firmly support the Company's product strategy going forward.

February -- Mercury announced its VS6-210 P.A. Semi Dual Dual-Core VXS Module. As the best in class for size, weight and power, the VS6-210 employs industry-standard technologies and an open software environment specifically architected for high-performance multicomputing sensor applications including radar, sonar, communications, and imaging. The P.A. Semi device delivers high performance with low power consumption; depending upon the application, three to four times less power consumption than similar high-performance microprocessor platforms.

February -- Mercury announced its Dual Cell-Based System 2 (DCBS-2) and new-generation MultiCore Plus(TM) SDK (Software Development Kit). The new multicore hardware and software offerings provide dramatic performance and productivity gains for wafer and mask inspection, beam writers, EDA (electronic design automation), computational lithography, aerospace and defense applications, and more. The DCBS-2 employs two Cell Broadband Engine(TM) (BE) processors to boost applications that demand a low acoustic signature in combination with the added density of the 1U form factor. The MultiCore Plus SDK is a cost-effective, seamless package of software development tools and libraries within a comprehensive programming framework that is specially designed for next-generation multicore processors such as the Cell BE processor.

March -- Mercury received a $2.5 million contract award from U.S. Army Ft. Monmouth's CECOM in New Jersey for development and demonstration of a testbed to support the Joint Counter Radio-Controlled Improvised Explosive Device Electronic Warfare (JCREW) program. The testbed will be used by the U.S. Government to develop and test advanced open-architecture technology for counter-IED (improvised explosive device) systems development. Mercury also announced a related agreement with ITT Electronic Systems, a leading supplier of information and electronic warfare (EW) technologies, systems, and services that enable mission success and survivability for a broad range of military aircraft. Through collaboration with ITT's Electronic Warfare Systems business, the strengths of each organization shall be leveraged to demonstrate algorithm component portability for the JCREW testbed architecture, which is an important element of the R&D objectives of the program.

March -- Mercury Federal Systems, Inc., a wholly owned Mercury subsidiary that offers consulting and software engineering services to the government, showcased its edge computational capabilities for C4ISR (Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance) systems, at the Navy League Sea-Air-Space Exposition in Washington, DC . Mercury Federal Systems was also named an Industrial Partner of COEUT, the Center of Excellence in Undersea Technology. COEUT's mission is to perform basic and applied research focused on the design, development, testing, and implementation of a wide variety of undersea technologies that support both military and civilian applications such as ocean and sea floor monitoring; underwater communication, detection and classification systems; and virtual ocean simulators.