Mercury Reports First Quarter Fiscal 2020 Results, Page 1
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.
“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.