Mercury Systems Reports Fourth Quarter and Fiscal 2014 Results
Fourth quarter operating results from continuing operations include:
Record defense bookings
Book to Bill ratio of 1.5
Adjusted EBITDA doubled year-over-year
Backlog increased 28% year-over-year
Company expects to achieve target business model for fiscal 2015
CHELMSFORD, Mass. − August 5, 2014 − Mercury Systems, Inc. (NASDAQ: MRCY, www.mrcy.com), a leading provider of affordable, commercially developed, open sensor processing systems and services for critical commercial, defense and intelligence applications, reported operating results for its fourth quarter and fiscal 2014 which ended June 30, 2014.
During the fourth quarter of fiscal 2014, the Company initiated a plan to divest its Mercury Intelligence Systems (MIS) subsidiary based on Mercury’s strategic direction and investment priorities that are focused on its core business. As a result, MIS’s financial results have been classified as discontinued operations beginning in the fourth quarter and for all prior periods presented in this release, and are excluded from the Company’s financial results from continuing operations.
Fourth Quarter Fiscal 2014 Results
Fourth quarter fiscal 2014 revenues were $53.7 million, an increase of $1.9 million, or 4%, compared to the fourth quarter of fiscal 2013, as revenues from defense customers increased $4.6 million and revenues from commercial customers decreased $2.7 million.
The following information was filed by Mercury Systems Inc (MRCY) on Tuesday, August 5, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Form Type: 10-K Annual Report Accession Number: 0001049521-14-000020 Submitted to the SEC: Thu Aug 14 2014 4:01:45 PM EST Accepted by the SEC: Thu Aug 14 2014 Period: Monday, June 30, 2014 Industry: Electronic Components And Accessories