MRCY FY 2020 Earnings Report — Mercury Systems, Inc. Revenue & Financial Results | Market Cap Arena

Mercury Systems, Inc.MRCY

FY 2020 Earnings

Reported August 18, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$797M	—	$655M	—	21.7%
Op. Income	$91M	—	$77M	—	18.9%
Gross Margin	44.8%	—	43.7%	—	1.1pp
Net Margin	10.8%	—	7.1%	—	3.6pp
EPS (Diluted)	$1.56	—	$0.96	—	62.5%
Free Cash Flow	$72M	—	$71M	—	1.5%

Revenue Flow

Item	Amount
REVENUE	$797M
Cost of Revenue	$440M
GROSS PROFIT	$357M
R&D Expenses	$98M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$132M
Other Expenses	$35M
Operating Expenses	$266M
Cost & Expenses	$706M
OPERATING INCOME	$91M
Interest Income	$2M
Interest Expense	$1M
Other Income/Expenses	$3M
INCOME BEFORE TAX	$94M
Income Tax Expense	$8M
Net Income from Continuing Ops	$86M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$86M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$86M
D&A	$49M
EBIT	$95M
EBITDA	$144M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$797M
Cost of Revenue	$440M
GROSS PROFIT	$357M
R&D Expenses	$98M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$132M
Other Expenses	$35M
Operating Expenses	$266M
Cost & Expenses	$706M
OPERATING INCOME	$91M
Interest Income	$2M
Interest Expense	$1M
Other Income/Expenses	$3M
INCOME BEFORE TAX	$94M
Income Tax Expense	$8M
Net Income from Continuing Ops	$86M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$86M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$86M
D&A	$49M
EBIT	$95M
EBITDA	$144M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$86M
Depreciation & Amortization	$49M
Stock-Based Compensation	$27M
Deferred Income Tax	-$3M
Other Non-Cash Items	-$2M
Change in Working Capital	-$41M
OPERATING CASH FLOW	$115M
Capital Expenditure	-$43M
Acquisitions (Net)	-$97M
Purchases of Investments	$0
Sales/Maturities of Investments	$4M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$135M
Net Debt Issuance	$0
Common Stock Repurchased	-$16M
Common Dividends Paid	$0
Other Financing Activities	$5M
NET CASH FROM FINANCING	-$11M
FREE CASH FLOW	$72M
Net Change in Cash	-$31M

Balance Sheet

Item	Amount
Cash & Equivalents	$227M
Short-Term Investments	$0
Net Receivables	$211M
Inventory	$178M
Other Current Assets	$17M
TOTAL CURRENT ASSETS	$635M
PP&E (Net)	$148M
Goodwill	$614M
Intangible Assets	$209M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$5M
TOTAL NON-CURRENT ASSETS	$976M
TOTAL ASSETS	$1.6B
Account Payables	$42M
Short-Term Debt	$0
Deferred Revenue	$19M
Other Current Liabilities	$41M
TOTAL CURRENT LIABILITIES	$126M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$14M
Other Non-Current Liabilities	$19M
TOTAL NON-CURRENT LIABILITIES	$100M
TOTAL LIABILITIES	$226M
Common Stock	$547.0K
Additional Paid-In Capital	$1.1B
Retained Earnings	$312M
Treasury Stock	$0
Accum. Other Comp. Income	-$3M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.4B
Minority Interest	$0
TOTAL EQUITY	$1.4B
TOTAL LIABILITIES & EQUITY	$1.6B
Total Debt	$67M
Net Debt	-$160M