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FOR IMMEDIATE RELEASE
Mercury Computer Systems Reports Fourth Quarter and Fiscal Year 2012 Results
Fourth quarter operating results highlights include:
Revenues of $60.9 million
Income from continuing operations of $5.7 million
GAAP diluted earnings per share from continuing operations of $0.19
Adjusted EBITDA of $9.3 million
Operating cash flow of $4.2 million
CHELMSFORD, Mass. July 31, 2012 Mercury Computer Systems, Inc. (NASDAQ: MRCY, www.mc.com), a trusted provider of commercially developed ISR and EW subsystems for defense prime contractors, reported operating results for its fourth quarter and fiscal year 2012 ended June 30, 2012. All results are presented and compared on a continuing operations basis.
Fourth Quarter Fiscal 2012 Results
Fourth quarter fiscal 2012 revenues were $60.9 million, a decrease of $0.3 million from the fourth quarter of the prior fiscal year. Revenues from defense customers increased by $3.5 million, while revenues from commercial customers decreased by $3.8 million, as compared with the prior years fourth quarter.
GAAP income from continuing operations for the fourth quarter of fiscal 2012 was $5.7 million, or $0.19 per diluted share, compared to $4.3 million, or $0.14 per diluted share, for the prior years fourth quarter. Fourth quarter fiscal 2012 GAAP net income from continuing operations per diluted share includes an increase of $0.16 associated with a change in the fair value of the liability related to the LNX earn-out, charges of $0.06 for restructuring, and $0.01 for acquisition costs related to the pending purchase of Micronetics, Inc. There were no such similar items in the prior years fourth quarter. GAAP net income from continuing operations per diluted share also includes $0.02 associated with the amortization of acquired intangible assets for the fourth quarter of fiscal 2012 and $0.01 for the prior years fourth quarter.
201 Riverneck Road, Chelmsford, Massachusetts 01824-2820 U.S.A.978-256-1300 Fax 978-256-3599 www.mc.com
The following information was filed by Mercury Systems Inc (MRCY) on Tuesday, July 31, 2012 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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