MRCY FY 2012 Earnings Report — Mercury Systems, Inc. Revenue & Financial Results | Market Cap Arena

Mercury Systems, Inc.MRCY

FY 2012 Earnings

Reported August 22, 2012

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2012	Prior Q	FY 2011	QoQ Change	YoY Change
Revenue	$245M	—	$229M	—	7.1%
Op. Income	$30M	—	$25M	—	20.5%
Gross Margin	55.6%	—	56.8%	—	-1.2pp
Net Margin	9.2%	—	8.1%	—	1.2pp
EPS (Diluted)	$0.75	—	$0.70	—	7.1%
Free Cash Flow	$22M	—	$20M	—	10.4%

Revenue Flow

Item	Amount
REVENUE	$245M
Cost of Revenue	$109M
GROSS PROFIT	$136M
R&D Expenses	$46M
Selling & Marketing	$0
General & Administrative	$57M
SG&A Expenses	$57M
Other Expenses	$2M
Operating Expenses	$102M
Cost & Expenses	$211M
OPERATING INCOME	$30M
Interest Income	$13.0K
Interest Expense	$40.0K
Other Income/Expenses	$2M
INCOME BEFORE TAX	$32M
Income Tax Expense	$9M
Net Income from Continuing Ops	$23M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$23M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$23M
D&A	$12M
EBIT	$31M
EBITDA	$43M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$245M
Cost of Revenue	$109M
GROSS PROFIT	$136M
R&D Expenses	$46M
Selling & Marketing	$0
General & Administrative	$57M
SG&A Expenses	$57M
Other Expenses	$2M
Operating Expenses	$102M
Cost & Expenses	$211M
OPERATING INCOME	$30M
Interest Income	$13.0K
Interest Expense	$40.0K
Other Income/Expenses	$2M
INCOME BEFORE TAX	$32M
Income Tax Expense	$9M
Net Income from Continuing Ops	$23M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$23M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$23M
D&A	$12M
EBIT	$31M
EBITDA	$43M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$23M
Depreciation & Amortization	$12M
Stock-Based Compensation	$7M
Deferred Income Tax	$2M
Other Non-Cash Items	-$8M
Change in Working Capital	-$3M
OPERATING CASH FLOW	$32M
Capital Expenditure	-$9M
Acquisitions (Net)	-$71M
Purchases of Investments	-$18M
Sales/Maturities of Investments	$18M
Other Investing Activities	-$231.0K
NET CASH FROM INVESTING	-$81M
Net Debt Issuance	-$185.0K
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$2M
NET CASH FROM FINANCING	$2M
FREE CASH FLOW	$22M
Net Change in Cash	-$47M

Balance Sheet

Item	Amount
Cash & Equivalents	$116M
Short-Term Investments	$0
Net Receivables	$49M
Inventory	$26M
Other Current Assets	$14M
TOTAL CURRENT ASSETS	$208M
PP&E (Net)	$16M
Goodwill	$133M
Intangible Assets	$25M
Long-Term Investments	$3M
Tax Assets	-$3M
Other Non-Current Assets	$4M
TOTAL NON-CURRENT ASSETS	$178M
TOTAL ASSETS	$386M
Account Payables	$9M
Short-Term Debt	$0
Deferred Revenue	$5M
Other Current Liabilities	$10M
TOTAL CURRENT LIABILITIES	$37M
Long-Term Debt	$0
Deferred Revenue NC	$4M
Deferred Tax Liabilities	$8M
Other Non-Current Liabilities	$3M
TOTAL NON-CURRENT LIABILITIES	$16M
TOTAL LIABILITIES	$53M
Common Stock	$297.0K
Additional Paid-In Capital	$223M
Retained Earnings	$109M
Treasury Stock	$0
Accum. Other Comp. Income	$1M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$333M
Minority Interest	$0
TOTAL EQUITY	$333M
TOTAL LIABILITIES & EQUITY	$386M
Total Debt	$0
Net Debt	-$116M