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...


April -- Mercury announced two design wins in radar and image processing applications in sensor computing. For next-generation radar on the go, Mercury is working with a leading defense prime contractor to integrate a ruggedized, conduction-cooled RACE++(R) Mercury multicomputer to operate as the radar processor for an airborne platform with significant environmental constraints. For precision approach and landing capability in military aircraft, Mercury is providing high-speed computation with the Momentum(TM) Series VPA-200 single-board computer. The VPA-200 will be integrated into a GPS to enable aircraft to land on any sufficient land- or sea-based surface during adverse weather or terrain conditions such as a low ceiling, cross winds, extreme precipitation, poor visibility, and widespread surface debris.

April -- Mercury was awarded design wins by two global technology companies that specialize in information systems and solutions for security applications. Mercury supplied the Momentum Series VLA-150 UltraSPARC(R) IIi+ Single-Board Computer, as well as obtained inventory of UltraSPARC IIi+ processors, for a long-standing defense customer. As a result, Mercury has helped the customer to sustain a leading reconnaissance program that deploys UAVs, and avoid a premature technology refresh. Also, a leading provider of inspection solutions turned to Mercury to gain a competitive edge for its scanning system. Mercury provided a Cell BE processor-based solution that combined a customized algorithm, the MultiCore Framework software, and professional services. As a result, the customer achieved a 5x performance increase and enhanced image scans.

Conference Call Information

Mercury will host a conference call on Wednesday, April 23, 2008 at 5:00 p.m. EDT to discuss the third quarter fiscal 2008 results and to review the financial and business outlook for the remainder of the year.

To listen to the conference call, dial (888) 215-6995 in the USA and Canada , and (913) 312-0855 for all other countries. The conference code number is 2418735. Please call five to ten minutes prior to the scheduled start time. This call will also be broadcast live over the web at www.mc.com/investor under Financial Events.

A replay of the call by telephone will be available from approximately 8:00 p.m. EDT on Wednesday, April 23 through 12:00 a.m. EDT on Friday, May 2 . To access the replay, dial (888) 203-1112 in the USA and Canada , and (719) 457-0820 for all other countries. Enter access code 2418735. A replay of the webcast of the call will be available for an extended period of time on the Financial Events page of the Company's website at www.mc.com/investor.

Use of Non-GAAP (Generally Accepted Accounting Principles) Financial Measures

In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, the Company provides non-GAAP financial measures adjusted to exclude certain non-cash and other specified charges, which the Company believes are useful to help investors better understand its past financial performance and prospects for the future. However, the presentation of non-GAAP financial measures is not meant to be considered in isolation or as a substitute for financial information provided in accordance with GAAP. Management believes these non-GAAP financial measures assist in providing a more complete understanding of the Company's underlying operational results and trends, and management uses these measures along with their corresponding GAAP financial measures to manage the Company's business, to evaluate its performance compared to prior periods and the marketplace, and to establish operational goals. A reconciliation of GAAP to non-GAAP financial results discussed in this press release is contained in the attached exhibits.

Forward-Looking Safe Harbor Statement