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Mercury Systems Reports Second Quarter Fiscal 2013 Results

Stocks in this article: MRCY

December – Mercury announced the appointment of Jamie Ryan as Vice President/Chief Information Officer. Mr. Ryan will lead the company's full range of information technology (IT) initiatives, which are designed to ensure that the company's secure, flexible IT environment continues to meet its business needs and support growth.

December – Mercury announced it received $2.3 million in follow-on orders from a leading defense prime contractor for digital signal processing modules for two airborne synthetic aperture radar applications.

November – Mercury announced the appointment of Dr. Paul Monticciolo as Chief Technology Officer.

November – Mercury applauded the successful performance of both the Patriot air and missile defense system and the Aegis Ballistic Missile Defense system during the U.S. Missile Defense Agency's Flight Test Integrated-01 live fire missile defense exercise recently conducted at the U.S. Army's Kwajalein Atoll/Reagan Test Site in the Pacific Ocean and Hickam Air Force Base in Hawaii. Mercury's Application-Ready Subsystems are integrated as core technologies in both systems.

November – Mercury announced that the Company had changed its name to Mercury Systems, Inc.™ to better reflect the breadth and depth of its capabilities. The name change was effective as of November 12, 2012 and the Company's common stock continued to be listed on the NASDAQ Stock Market under its ticker symbol: "MRCY." In addition, the Company adopted a new slogan, "Innovation That Matters™," revealed a new corporate logo, and changed its website to, as part of a complete rebranding campaign.

November – Mercury announced that it was collaborating with TE Connectivity™ to develop next-generation rugged OpenVPX™ connector technology. This deployment-ready technology will dramatically increase the performance and reliability of OpenVPX-based embedded subsystems in high-vibration, high-signal speed environments.

October – Mercury announced that it had entered into a credit agreement with a syndicate of commercial banks, with KeyBank National Association acting as the administrative agent.  The credit agreement provides for a $200.0 million senior unsecured revolving line of credit (the "Revolver").  The Revolver is available for working capital, acquisitions, and general corporate purposes of Mercury and its subsidiaries.  The Revolver is available for borrowing during a five year period, with interest payable periodically during such period as provided in the credit agreement and principal due at the maturity of the Revolver.  Mercury has not borrowed under the credit agreement to date.  In connection with entering into the credit agreement, Mercury terminated its prior revolving line of credit with Silicon Valley Bank.

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