Mercury Reports First Quarter Fiscal 2020 Results, Page 1


Exhibit 99.1
headerlogo.jpg
 

News Release

Mercury Systems Reports First Quarter Fiscal 2020 Results

First Quarter Highlights Include:
Record revenue increased 23% over prior year with 17% organic growth
Revenue, net income, adjusted EBITDA, EPS and adjusted EPS exceeded guidance
Record backlog increased 40% over prior year with a book-to-bill ratio of 1.22
American Panel Corporation acquisition completed

ANDOVER, Mass. October 29, 2019 Mercury Systems, Inc. (NASDAQ: MRCY, www.mrcy.com), reported operating results for the first quarter of fiscal 2020, ended September 27, 2019.
Management Comments
“The strong results for the first quarter of fiscal year 2020 highlight the continued momentum in the business,” said Mark Aslett, Mercury’s President and Chief Executive Officer. “We exceeded guidance for revenues, net income, adjusted EBITDA, EPS and adjusted EPS. Bookings exceeded $200 million for the second consecutive quarter generating a 1.22 book-to-bill ratio and record backlog. Organic revenue grew 17% and we continue to leverage our strong operating and free cash flow to invest in the organic growth of the business including the expansion of our trusted microelectronics business. Given our financial performance for the quarter coupled with the completion of our acquisition of American Panel Corporation, we are raising our guidance for the full fiscal year,” said Aslett.
First Quarter Fiscal 2020 Results
Total Company first quarter fiscal 2020 revenues were $177.3 million, compared to $144.1 million in the first quarter of fiscal 2019. The first quarter fiscal 2020 results included an aggregate of approximately $19.3 million of revenue attributable to the Germane Systems, GECO Avionics, The Athena Group, Syntonic Microwave and American Panel Corporation 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 Wednesday, October 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.

View differences made from one quarter to another to evaluate Mercury Systems Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Mercury Systems Inc.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Log in with your credentials

or    

Forgot your details?

Create Account