Mercury Reports Fourth Quarter and Fiscal 2019 Results, Page 1


Exhibit 99.1
mercurywordheadergraphicwith.jpg
 
News Release

Mercury Systems Reports Fourth Quarter and Fiscal 2019 Results;
Announces Agreement to Acquire American Panel Corporation

Fourth Quarter Highlights Include:
Record bookings increased 41% over prior year with a book-to-bill ratio of 1.36
Record revenue increases 16% over prior year
Strong operating cash flow of $26 million and free cash flow of $17 million
Net proceeds of $455 million received through equity offering

ANDOVER, Mass. July 30, 2019
Mercury Systems, Inc. (NASDAQ: MRCY, www.mrcy.com), reported operating results for the fourth quarter and fiscal year ended June 30, 2019.
Management Comments
“The business performed extremely well in the fourth quarter of 2019 marking the end of a strong fiscal year for Mercury,” said Mark Aslett, Mercury’s President and Chief Executive Officer. “We achieved another record for bookings exceeding $240 million and yielding a book to bill ratio of 1.36. Revenue and adjusted EBITDA exceeded guidance with strong operating and free cash flow generation in the quarter. In addition, we are pleased to announce the execution of a purchase agreement to acquire American Panel Corporation for $100 million, which upon closing will add a scalable display platform to our C4I business. As we enter fiscal year 2020 with a record backlog, strong balance sheet, and robust M&A pipeline, we are strategically well-positioned for continued growth and profitability,” said Aslett.
Fourth Quarter Fiscal 2019 Results
Total Company fourth quarter fiscal 2019 revenues were $177.0 million, compared to $152.9 million in the fourth quarter of fiscal 2018. The fourth quarter fiscal 2019 results included an aggregate of approximately $18.4 million of revenue attributable to the Germane Systems, GECO Avionics, The Athena Group and Syntonic Microwave 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, July 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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