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Mercury Systems Reports Third Quarter Fiscal 2013 Results

February – Mercury announced that its Mercury Intelligence Systems business unit joined the Open Cloud Consortium. Mercury Intelligence Systems will collaborate with other members of the organization on a wide range of topics related to Big Data analytics.

February – Mercury announced that it had been awarded a 3-year indefinite delivery/indefinite quantity contract by the U.S. Naval Research Laboratory Tactical Electronic Warfare Division. Worth up to $16.7 million, the contract calls for Mercury to supply advanced mixed signal digital receivers for prototype electronic warfare applications on airborne and surface shipboard platforms.

January – Mercury announced an expansion to its product line with the industry's first embedded processing module using the powerful Intel® 3rd generation Core™ i7 quad-core Ivy Bridge mobile-class processor and dual Mellanox® ConnectX®-3 host adapters for a total of four InfiniBand™ fabric connections. The new LDS6523 (low-density server) is an industry model for open architecture high-performance embedded computing solutions, offering unparalleled data plane bandwidth with four 40Gbps fabric ports.

Conference Call Information

Mercury will host a conference call and simultaneous webcast on Tuesday, April 30, 2013, at 5:00 p.m. EDT to discuss the third quarter fiscal year 2013 financial results and review its financial and business outlook going forward.

To listen to the conference call, dial (877) 303-6977 in the U.S.A. and Canada, and (760) 298-5079 in all other countries. Please call five to ten minutes prior to the scheduled start time. The live audio webcast can be accessed from the 'Events and Presentations' page of Mercury's website at www.mrcy.com/investor .

A replay of the webcast will be available two hours after the call and archived on the same web page for 6 months.

Use of Non-GAAP (Generally Accepted Accounting Principles) Financial Measures

In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, the Company provides adjusted EBITDA and free cash flow, which are non-GAAP financial measures. Adjusted EBITDA excludes certain non-cash and other specified charges. Free cash flow is defined as cash flow from operating activities less capital expenditures. The Company believes these non-GAAP financial measures are useful to help investors understand its past financial performance and prospects for the future. However, the presentation of adjusted EBITDA and free cash flow is not meant to be considered in isolation or as a substitute for financial information provided in accordance with GAAP. Management believes the adjusted EBITDA and free cash flow financial measures assist in providing a more complete understanding of the Company's underlying operational results and trends, and management uses these measures along with the corresponding GAAP financial measures to manage the Company's business, to evaluate its performance compared to prior periods and the marketplace, and to establish operational goals. A reconciliation of GAAP to non-GAAP financial results discussed in this press release is contained in the attached exhibits.

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