LONDON, UK / ACCESSWIRE / January 29, 2018 / Active-Investors.com has just released a free earnings report on Mercury Systems, Inc. (NASDAQ: MRCY). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=MRCY. Mercury Systems reported its second quarter fiscal 2018 operating and financial results on January 24, 2018. The maker of processing systems and software achieved record revenue, bookings, and backlog for the reported quarter and provided guidance for the upcoming quarter and fiscal year 2018. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Mercury Systems most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
For the second quarter of fiscal 2018, ended December 31, 2017, Mercury Systems' total revenues surged 20% to $117.9 million compared to $98.0 million in Q2 FY17. The Company's reported quarter results included an aggregate of approximately $13.0 million of revenue attributable to the CES, Delta Microwave and Richland Technologies acquired businesses. Mercury Systems' organic revenue for the reported quarter increased 12% to $104.9 million on a y-o-y basis. The Company's revenue numbers exceeded analysts' estimates of $115.3 million.
For Q2 FY18, Mercury Systems' operating expenses were $43.3 million versus $38.4 million for Q2 FY17. The Company's adjusted EBITDA was $26.9 million for the reported quarter compared to $23.0 million in the year ago same period.
Mercury Systems' net income was $9.1 million, or $0.19 per share, for Q2 FY18 compared to $5.2 million, or $0.13 per share, for Q2 FY17. The Company's adjusted earnings per share came in at $0.28 per share for the reported quarter compared to $0.30 per share in the year earlier same quarter. Mercury Systems' earnings lagged behind Wall Street's estimates of $115.3 million.
Cash Matters
During Q2 FY18, Mercury Systems' cash flows from operating activities was a net inflow of $8.8 million compared to a net inflow of $14.2 million in Q2 FY17. The Company's free cash flow was a net inflow of $4.8 million in the reported quarter versus net inflow of $6.5 million in the year earlier comparable quarter.
Bookings and Backlog
Mercury Systems' total bookings were $134.2 million for Q2 FY18, yielding a book-to-bill ratio of 1.14 for the reported quarter.
Mercury Systems' total backlog at December 31, 2017, was $376.4 million, reflecting a $57.6 million increase from a year ago. Of the Company's total backlog on December 31, 2017, $310.4 million represented orders expected to be shipped within the next 12 months.
Outlook
For the third quarter of fiscal 2018, Mercury Systems is forecasting revenues to be in the range of $116.0 million to $120.0 million. The Company is expecting GAAP net income in the band of approximately $7.8 million to $9.0 million, or $0.16 to $0.19 per share, assuming no restructuring, acquisition, or non-recurring financing related expenses in the period. The Company's adjusted EBITDA for the upcoming quarter is estimated to be in the range of $26.3 million to $28.0 million and adjusted EPS is expected to be in the range of $0.33 to $0.35 per share.
For the full fiscal year 2018, Mercury Systems is projecting revenue of $460.0 million to $468.0 million, and GAAP net income of $38.4 million to $40.4 million, or $0.81 to $0.85 per share. The Company's adjusted EBITDA for FY18 is anticipated to be approximately $106.0 million to $109.0 million, and adjusted EPS is expected to be approximately $1.33 to $1.37 per share.
Stock Performance Snapshot
January 26, 2018 - At Friday's closing bell, Mercury Systems' stock was marginally up 0.47%, ending the trading session at $46.61.
Volume traded for the day: 730.42 thousand shares, which was above the 3-month average volume of 317.57 thousand shares.
Stock performance in the previous six-month period - up 6.63%; and past twelve-month period - up 39.34%
After last Friday's close, Mercury Systems' market cap was at $2.28 billion.
Price to Earnings (P/E) ratio was at 54.51.
The stock is part of the Technology sector, categorized under the Computer Peripherals industry. This sector was up 1.6% at the end of the session.
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