NORRISTOWN, Pa.--(BUSINESS WIRE)--LCR Embedded Systems, Inc. a privately held corporation, reported an increase in sales of 23% over the same quarter in 2016. Year-to-date sales are also up over 2016 by 21%. The increase is a result of new wins directly with the US Navy, and with various Tier 1 and Tier 2 prime defense contractors.
“I couldn’t be prouder of our team here at LCR Embedded,” said David Pearson, President. “We’ve worked hard to establish a well-deserved reputation as a reliable innovator and long-term partner for our customers, and every bit of that stems from our commitment to our nation’s warfighters and the knowledge that their lives are on the line in every deployment that we’re a part of. We’ve worked hard to develop a company culture and core values that drive that kind of commitment and success, and we can’t wait to see where it brings us and those who depend on us in the future.”
LCR Embedded continues to find strength in all technology groups, extending from legacy products like wire wrap to brand-new cutting-edge baseline product offerings designed to slot in at any point of an end-to-end UAV application. The front-end applications team added over $7M in new opportunities in Q2, a reflection of the demand for our solutions. Expectations for Q3 and Q4 are for continued growth in new business as we remain focused on our customer partnerships and collaborations.
Raytheon Mission Assurance Award
In May 2017, LCR Embedded was honored with the prestigious Raytheon Mission Assurance Award. The award was made during the 2017 Raytheon Integrated Defense Systems Supplier Excellence Conference. Given to only four of Raytheon’s 3,500 suppliers, the award recognized LCR’s commitment to Raytheon, mission assurance, and to the warfighters that rely on Raytheon’s products all over the world. “It’s incredibly gratifying to be recognized by our customers for how strongly we live our core values at LCR Embedded,” said LCR Embedded Systems President David Pearson. “Our long history of mutual collaboration and achievement with Raytheon truly exemplifies how our core values and a shared commitment to mission assurance can drive excellence in the products and services we provide. Everyone in Norristown could not be happier or more proud of the recognition that this award symbolizes. We’re excited to see what the future will bring for both companies, and the continued success with new programs.”
New Baseline Products Launched
In Q2, LCR Embedded also launched two new baseline products into the market. The first is our Featherweight VPX System, which was launched during AUVSI’s XPONENTIAL 2017 from May 8-11 in Dallas, TX. The launch and live demo at the show with partner ADLINK Technologies was received with great interest from customers and the market in general and is already part of several new designs.
In June 2017, we announced the availability of our Pigeon Point shelf management. While this new offering is most relevant to customers seeking to take advantage of the popular, high-performance Advanced TCA form factor, Pigeon Point shelf management along with the company’s other shelf management options can be designed into other form factors where required.
Q3 and Q4 2017 are expected to meet or exceed LCR Embedded’s current budget forecasts. Several new baseline products will be launched, and our customer collaborations are forecasted to grow substantially. The current 18 month forecast is very optimistic, despite the challenging macro-economics and the uncertain geopolitical climate.
About LCR Embedded Systems • www.lcrembeddedsystems.com
LCR Embedded Systems designs, develops, and manufactures chassis, backplanes, and fully integrated systems for the aerospace and defense, commercial, rail, and industrial markets with a focus on standards-based form factors such as VPX/VME, AdvancedTCA, COM Express, and CompactPCI. LCR Embedded Systems is an AS 9100 C and ISO9001:2008 certified company, with approved J-STD-001 Class 3, CCAP, FOD, and ESD programs in place.