This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Mercury Systems Reports First Quarter Fiscal 2014 Results

First quarter operating results include: Revenues of $53.9 million Net loss of $2.3 million GAAP net loss per share of $0.07 Adjusted EBITDA of $3.6 million Operating cash flow of $2.2 million

CHELMSFORD, Mass., October 29, 2013 (GLOBE NEWSWIRE) -- Mercury Systems, Inc. (Nasdaq:MRCY) ( www.mrcy.com ), a best-of-breed provider of commercially developed, open sensor and Big Data processing systems, software and services for critical commercial, defense and intelligence applications, reported operating results for its fiscal 2014 first quarter which ended September 30, 2013.

First Quarter Fiscal 2014 Results

First quarter fiscal 2014 revenues were $53.9 million, an increase of $4.5 million, or 9%, compared to the first quarter of fiscal 2013, as revenues from commercial customers increased $2.6 million and revenues from defense customers increased $1.9 million.

GAAP net loss for the first quarter of fiscal 2014 was $2.3 million, or a loss of $0.07 per share, compared to GAAP net loss of $7.2 million, or $0.24 per share, for the prior year's first quarter. Both the first quarter of fiscal 2014 and the first quarter of fiscal 2013 GAAP net loss per share include $0.04 associated with the amortization of acquired intangible assets. First quarter fiscal 2013 GAAP net loss per share includes $0.11 for restructuring charges, and $0.01 for acquisition costs related to the Micronetics, Inc. acquisition, which was completed in last year's first quarter.

First quarter fiscal 2014 GAAP net loss includes approximately $1.3 million in tax benefits, $2.0 million in depreciation expense, $2.1 million in amortization of acquired intangible assets, and $3.0 million in stock-based compensation costs. First quarter fiscal 2014 adjusted EBITDA (net income before interest income and expense, income taxes, depreciation, amortization of acquired intangible assets, restructuring, impairment of long-lived assets, acquisition costs and other related expenses, fair value adjustments from purchase accounting, and stock-based compensation costs) was $3.6 million, compared to $1.6 million for the prior year's first quarter.

1 of 11

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,288.63 +155.93 0.86%
S&P 500 2,117.39 +12.89 0.61%
NASDAQ 5,008.0960 +44.5690 0.90%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs