Mercury Reports First Quarter Fiscal 2019 Results, Page 1
Mercury Systems Reports First Quarter Fiscal 2019 Results
First Quarter Highlights Include:
Revenue increases 36% over prior year
Book-to-bill ratio of 1.24 yields record bookings and backlog
Revenue, adjusted EBITDA and adjusted EPS exceed consensus estimates
Operating cash flow of $20 million and free cash flow of $16 million
ANDOVER, Mass. October 30, 2018 Mercury Systems, Inc. (NASDAQ: MRCY, www.mrcy.com), reported operating results for the first quarter of fiscal 2019, ended September 30, 2018.
“The first quarter of fiscal year 2019 marked a strong start to the year for Mercury,” said Mark Aslett, Mercury’s President and Chief Executive Officer. “We achieved another record for bookings and backlog, exceeded consensus estimates for revenue, adjusted EBITDA, and adjusted EPS as well as delivered solid operating and free cash flow. During the quarter, we amended our existing revolving credit facility, increasing it to $750 million, and renewed the 5-year term to support our growth through organic investment and strategic acquisitions. Based on our financial performance for the quarter, the continued momentum in our organic and acquired businesses as well as the strong backlog, we are raising our guidance for the full fiscal year,” said Aslett.
First Quarter Fiscal 2019 Results
Total Company first quarter fiscal 2019 revenues were $144.1 million, compared to $106.1 million in the first quarter of fiscal 2018. The first quarter fiscal 2019 results included an
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The following information was filed by Mercury Systems Inc (MRCY) on Tuesday, October 30, 2018 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.