MRCY FY 2019 Earnings Report — Mercury Systems, Inc. Revenue & Financial Results | Market Cap Arena

Mercury Systems, Inc.MRCY

FY 2019 Earnings

Reported August 15, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$655M	—	$493M	—	32.8%
Op. Income	$77M	—	$47M	—	63.0%
Gross Margin	43.7%	—	45.8%	—	-2.1pp
Net Margin	7.1%	—	8.3%	—	-1.1pp
EPS (Diluted)	$0.96	—	$0.86	—	11.6%
Free Cash Flow	$71M	—	$28M	—	151.0%

Revenue Flow

Item	Amount
REVENUE	$655M
Cost of Revenue	$369M
GROSS PROFIT	$286M
R&D Expenses	$69M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$111M
Other Expenses	$28M
Operating Expenses	$208M
Cost & Expenses	$576M
OPERATING INCOME	$77M
Interest Income	$932.0K
Interest Expense	$9M
Other Income/Expenses	-$17M
INCOME BEFORE TAX	$60M
Income Tax Expense	$13M
Net Income from Continuing Ops	$47M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$47M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$47M
D&A	$46M
EBIT	$79M
EBITDA	$126M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$655M
Cost of Revenue	$369M
GROSS PROFIT	$286M
R&D Expenses	$69M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$111M
Other Expenses	$28M
Operating Expenses	$208M
Cost & Expenses	$576M
OPERATING INCOME	$77M
Interest Income	$932.0K
Interest Expense	$9M
Other Income/Expenses	-$17M
INCOME BEFORE TAX	$60M
Income Tax Expense	$13M
Net Income from Continuing Ops	$47M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$47M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$47M
D&A	$46M
EBIT	$79M
EBITDA	$126M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$47M
Depreciation & Amortization	$46M
Stock-Based Compensation	$19M
Deferred Income Tax	-$2M
Other Non-Cash Items	$9M
Change in Working Capital	-$23M
OPERATING CASH FLOW	$98M
Capital Expenditure	-$27M
Acquisitions (Net)	-$127M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$154M
Net Debt Issuance	-$195M
Common Stock Repurchased	-$8M
Common Dividends Paid	$0
Other Financing Activities	-$4M
NET CASH FROM FINANCING	$248M
FREE CASH FLOW	$71M
Net Change in Cash	$191M

Balance Sheet

Item	Amount
Cash & Equivalents	$258M
Short-Term Investments	$0
Net Receivables	$176M
Inventory	$137M
Other Current Assets	$90.0K
TOTAL CURRENT ASSETS	$582M
PP&E (Net)	$60M
Goodwill	$562M
Intangible Assets	$206M
Long-Term Investments	-$18M
Tax Assets	$18M
Other Non-Current Assets	$7M
TOTAL NON-CURRENT ASSETS	$835M
TOTAL ASSETS	$1.4B
Account Payables	$39M
Short-Term Debt	$0
Deferred Revenue	$11M
Other Current Liabilities	$19M
TOTAL CURRENT LIABILITIES	$98M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$18M
Other Non-Current Liabilities	$16M
TOTAL NON-CURRENT LIABILITIES	$34M
TOTAL LIABILITIES	$132M
Common Stock	$542.0K
Additional Paid-In Capital	$1.1B
Retained Earnings	$227M
Treasury Stock	$0
Accum. Other Comp. Income	-$1M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.3B
Minority Interest	$0
TOTAL EQUITY	$1.3B
TOTAL LIABILITIES & EQUITY	$1.4B
Total Debt	$0
Net Debt	-$258M