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FOR IMMEDIATE RELEASE
Mercury Computer Systems Reports Fourth Quarter and Fiscal Year 2011 Results
Fourth quarter operating results highlights include:
Revenues of $61.2 million
Operating cash flow of $8.6 million
GAAP diluted earnings per share from continuing operations of $0.14
Income from continuing operations of $4.3 million
Adjusted EBITDA of $10.1 million
CHELMSFORD, Mass. August 2, 2011 Mercury Computer Systems, Inc. (NASDAQ: MRCY), a trusted provider of commercially developed ISR subsystems, reported operating results for its fourth quarter and fiscal year 2011 ended June 30, 2011. All results are presented and compared on a continuing operations basis.
Fourth Quarter Fiscal 2011 Results
Fourth quarter fiscal 2011 revenues were $61.2 million, a decrease of $2.4 million from the fourth quarter of the prior fiscal year. Revenues from commercial customers decreased by $8.0 million, while revenues from defense customers increased by $5.6 million as compared with the prior years fourth quarter.
GAAP income from continuing operations for the fourth quarter of fiscal 2011 was $4.3 million, or $0.14 per diluted share, including the effect of the Companys recent follow-on stock offering, compared to $18.0 million, or $0.77 per diluted share, for the prior years fourth quarter. Fourth quarter fiscal 2010 GAAP EPS included approximately $0.36 per diluted share for the partial reversal of the valuation allowance against deferred tax assets and the final determination of the approximately 5% effective tax rate benefit for the year.
Fourth quarter fiscal 2011 GAAP income from continuing operations includes approximately $2.3 million in tax expense, $1.7 million in depreciation expense, $1.4 million in stock-based
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The following information was filed by Mercury Systems Inc (MRCY) on Tuesday, August 2, 2011 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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