Mercury Reports Third Quarter Fiscal 2019 Results, Page 1
Mercury Systems Reports Third Quarter Fiscal 2019 Results
Third Quarter Highlights Include:
Record revenue increases 50% over prior year with 31% organic increase
Revenue, net income, adjusted EBITDA, EPS and adjusted EPS exceed guidance
Strong operating cash flow of $26 million and free cash flow of $19 million
Record bookings increased 26% over prior year with individual booking record of $41 million
ANDOVER, Mass. April 30, 2019 Mercury Systems, Inc. (NASDAQ: MRCY, www.mrcy.com), reported operating results for the third quarter of fiscal 2019, ended March 31, 2019.
“The business continued to excel in the third quarter of fiscal year 2019,” said Mark Aslett, Mercury’s President and Chief Executive Officer. “We delivered a very strong financial performance with record revenues, bookings and backlog as well as strong operating and free cash flow. We executed extremely well against our strategy growing organic revenue by 31%. We closed the acquisition of GECO Avionics early in the quarter, and most recently completed the acquisitions of two great businesses - Syntonic Microwave and The Athena Group - which further expand our capabilities in electronic warfare as well as embedded security. We also made solid progress integrating prior acquisitions while continuing to invest in the business for future growth. Based on our solid year-to-date performance, record backlog and the continued momentum we see in the business, we are raising our guidance for the full fiscal year.”
Third Quarter Fiscal 2019 Results
Total Company third quarter fiscal 2019 revenues were $174.6 million, compared to $116.3 million in the third quarter of fiscal 2018. The third quarter fiscal 2019 results included an aggregate of approximately $34.8 million of revenue attributable to the Themis Computer, Germane Systems and GECO Avionics acquired businesses.
50 Minuteman Road, Andover, Massachusetts 01810 U.S.A. • +1 978.256.1300 • www.mrcy.com • twitter: @MRCY
The following information was filed by Mercury Systems Inc (MRCY) on Tuesday, April 30, 2019 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.