Mercury Systems Reports Fourth Quarter and Fiscal 2015 Results
Fourth quarter financial highlights include:
Revenue, Earnings, and Adjusted EBITDA all exceed estimates
Book-to-Bill ratio of 1.3 yields record ending backlog of $208 million
Adjusted EBITDA of $14.2 million increases 97% year-over-year
Free cash flow of $10.2 million
Income from continuing operations of $0.18 per share
CHELMSFORD, Mass. August 4, 2015 Mercury Systems, Inc. (NASDAQ: MRCY, www.mrcy.com), reported operating results for its fiscal 2015 fourth quarter and year ended June 30, 2015.
“Fiscal 2015 was a very strong year for Mercury,” stated Mark Aslett, Mercury’s President and Chief Executive Officer. “Revenue grew by 12.5% and we grew backlog to record levels. At the same time, we increased adjusted EBITDA 89% year-over-year to 19% of revenue and landed well within our target model. In addition, GAAP earnings were positive for the year and each quarter within it. Finally, our 19% growth in backlog and record forward revenue coverage puts us on a very solid footing as we enter fiscal 2016,” Aslett concluded.
Fourth Quarter Fiscal 2015 Results
Fourth quarter fiscal 2015 revenues were $64.1 million, an increase of $10.4 million, or 19%, compared to the fourth quarter of fiscal 2014, as revenues from defense customers increased $10.3 million and revenues from commercial customers increased $0.1 million.
201 Riverneck Road, Chelmsford, Massachusetts 01824-2820 U.S.A. • +1 978.256.1300 • www.mrcy.com • twitter: @MRCY
The following information was filed by Mercury Systems Inc (MRCY) on Tuesday, August 4, 2015 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.