"As a result, our core compute business performed well and delivered improved results on a sequential basis for the second consecutive quarter," Aslett said. "We recognized our first low-rate initial production revenue from the Navy's Surface Electronic Warfare Improvement Program (SEWIP) Block 2. In addition, this was another strong quarter of bookings for the Navy's Aegis Ballistic Missile Defense System.""There was clearly greater stability in our business this quarter; although, challenges in the industry remain," said Aslett. "Under sequestration, there is greater potential for the near-term reprogramming of funds from the DoD investment accounts, and longer term there also remains uncertainty about the federal government's 2014 fiscal year. These dynamics continue to cloud our visibility regarding future deal timing and revenues. Consequently, we are continuing to manage revenue and expense levels conservatively with a focus on maximizing our cash."
Mercury Systems Reports Third Quarter Fiscal 2013 Results
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.