Mercury Systems: Fiscal 2Q Earnings Snapshot

Updated

ANDOVER, Mass. (AP) _ Mercury Systems Inc. (MRCY) on Tuesday reported fiscal second-quarter profit of $12.7 million.

The Andover, Massachusetts-based company said it had profit of 23 cents per share. Earnings, adjusted for one-time gains and costs, came to 54 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.

The maker of processing systems and software posted revenue of $210.7 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $209.7 million.

For the current quarter ending in April, Mercury Systems expects its per-share earnings to range from 59 cents to 63 cents.

The company said it expects revenue in the range of $245 million to $255 million for the fiscal third quarter.

Mercury Systems expects full-year earnings in the range of $2.35 to $2.42 per share, with revenue ranging from $925 million to $945 million.

Mercury Systems shares have decreased 15% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $74.99, a decrease of 4% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MRCY at https://www.zacks.com/ap/MRCY

Originally published

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