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Mercury Systems Inc (MRCY) SEC Filing 10-Q Quarterly report for the period ending Friday, March 27, 2020

SEC Filings

Mercury Systems Inc

CIK: 1049521 Ticker: MRCY

Exhibit 99.1
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News Release

Mercury Systems Reports Third Quarter Fiscal 2020 Results

Third Quarter Highlights Include:
Record bookings of $250 million increased 32% over prior year
Record revenue increased 19% over prior year with 11% organic growth
Record net income, adjusted EBITDA, EPS and adjusted EPS
Record backlog increased 38% over prior year


ANDOVER, Mass. April 28, 2020
Mercury Systems, Inc. (NASDAQ: MRCY, www.mrcy.com), reported operating results for the third quarter of fiscal 2020, ended March 27, 2020.
Management Comments
“The record performance in the third quarter of fiscal year 2020 demonstrates the resiliency of our people and our business in a period of unparalleled challenges,” said Mark Aslett, Mercury’s President and Chief Executive Officer. “We achieved record bookings of $250 million yielding a book-to-bill of 1.20 and another record backlog as well as record revenues, net income, adjusted EBITDA, EPS and adjusted EPS. While the COVID-19 global pandemic continues to disrupt the economies and financial markets of many countries and we are unable to predict its ultimate impact, we remain focused on continuing the mission-critical work we do every day to support our people, our customers and the ongoing security of our nation,” said Aslett.
Third Quarter Fiscal 2020 Results
Total Company third quarter fiscal 2020 revenues were $208.0 million, compared to $174.6 million in the third quarter of fiscal 2019. The third quarter fiscal 2020 results included an aggregate of approximately $16.5 million of revenue attributable to the GECO Avionics, The Athena Group, Syntonic Microwave and American Panel Corporation acquired businesses.
Total Company GAAP net income for the third quarter of fiscal 2020 was $23.6 million, or $0.43 per share, compared to $14.1 million, or $0.29 per share, for the third quarter of fiscal 2019.
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 28, 2020 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.

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Inside Mercury Systems Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Operations And Comprehensive Income
Consolidated Statements Of Shareholders' Equity Statement
Acquisitions
Acquisitions (Tables)
Acquisitions - Narrative (Details)
Acquisitions - Net Purchase Price And Fair Values Of Assets And Liabilities Acquired (Details)
Commitments And Contingencies
Commitments And Contingencies (Detail)
Debt
Debt (Detail)
Description Of Business
Description Of Business (Details)
Employee Benefit Plan
Employee Benefit Plan (Details)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (Detail)
Fair Value Of Financial Instruments (Tables)
Goodwill
Goodwill (Detail)
Goodwill (Tables)
Income Taxes
Income Taxes (Detail)
Inventory
Inventory (Detail)
Inventory (Tables)
Leases
Leases (Tables)
Leases - Additional Disclosure (Details)
Leases - Maturity Of Lease Commitments (Details)
Leases - Other Supplemental Information (Details)
Leases - Supplemental Balance Sheet Information (Details)
Operating Segment, Geographic Information And Significant Customers
Operating Segment, Geographic Information And Significant Customers (Tables)
Operating Segment, Geographic Information And Significant Customers - Customers Comprising Ten Percent Or More Revenues (Detail)
Operating Segment, Geographic Information And Significant Customers - Geographic Distribution Of Revenues And Long Lived Assets From Continuing Operations (Detail)
Restructuring
Restructuring (Tables)
Restructuring - Additional Information (Detail)
Restructuring - Expenses By Reportable Segment For Restructuring Plans (Detail)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Additional Information (Detail)
Stock-Based Compensation - Stock-Based Compensation Expenses (Detail)
Stock-Based Compensation - Summary Of Nonvested Restricted Stock (Detail)
Stock-Based Compensation - Summary Of Stock Option Plans (Detail)
Subsequent Events
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Additional Information (Detail)
Summary Of Significant Accounting Policies - Basic And Diluted Weighted Average Shares Outstanding (Detail)

Material Contracts, Statements, Certifications & more

Mercury Systems Inc provided additional information to their SEC Filing as exhibits

Ticker: MRCY
CIK: 1049521
Form Type: 10-Q Quarterly Report
Accession Number: 0001049521-20-000017
Submitted to the SEC: Tue May 05 2020 4:17:12 PM EST
Accepted by the SEC: Tue May 05 2020
Period: Friday, March 27, 2020
Industry: Electronic Components And Accessories

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