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Mercury Systems Reports Second Quarter Fiscal 2014 Results And Final Phase Of Acquisition Integration Plan

Adjusted EBITDA for the third quarter of fiscal 2014 is expected to be in the range of $1.0 million to $4.1 million.

For full year fiscal 2014, revenues are projected to be in the range of $215 million to $225 million. At this range, GAAP net loss per share is estimated to be in the range of a net loss of $0.20 to $0.34 per share. Forecasted GAAP net loss per share includes $0.10 per share associated with restructuring activities and $0.16 per share associated with forecasted amortization of acquired intangible assets.

Adjusted EBITDA for fiscal 2014 is expected to be in the range of $14.0 million to $20.0 million. At the higher end of the guidance range, net of anticipated restructuring charges, the Company expects to achieve profitability in the second half of fiscal 2014.

Recent Highlights

December – Mercury Systems announced it received $1.9 million in new orders from a leading defense prime contractor for high performance, OpenVPX™ digital signal processing modules and supporting professional services for a manned airborne active electronically scanned array radar application. The orders are expected to be shipped by the end of Mercury's fiscal 2014 third quarter.

December – Mercury announced it received $1.7 million in follow-on orders from a leading defense prime contractor for digital signal processing modules for a manned airborne synthetic aperture radar (SAR) application. The orders were shipped in Mercury's fiscal 2014 second quarter.

November – Mercury announced it was dramatically improving affordability and increasing processing power by leveraging Ethernet protocols for switched fabrics, cluster computing and sensor I/O used in sophisticated OpenVPX™-based high performance embedded computing subsystems. The Company's Ensemble ® OpenVPX™ subsystems, combined with an Ethernet switched fabric, may be the ultimate open systems architecture. By using TCP/IP and sockets, the de facto standard for networking and communications, the systems are affordable and well supported. The ubiquity of Ethernet means that users can take advantage of countless software applications, productivity tools, installed applications and support from multiple vendors.

October – Mercury announced it received $3.3 million in follow-on orders from Raytheon's Integrated Defense Systems to provide OpenVPX™-based radar subsystems and spares for the Patriot Air and Missile Defense System. The orders were booked and shipped in the Company's fiscal 2014 first quarter.

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