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Jan 01, 2021
Mercury Q2 2021 Earnings Report
Mercury's Q2 2021 earnings were released, showing revenue exceeding guidance and bookings surpassing $200 million for the seventh consecutive quarter.
Key Takeaways
Mercury Systems reported a 9% increase in revenue compared to the previous year, with revenue reaching $210.7 million. The company's bookings totaled $210.1 million, resulting in a book-to-bill ratio of 1.0. GAAP net income was $12.7 million, or $0.23 per share, while adjusted earnings per share was $0.54. The company completed the acquisition of Physical Optics Corporation during the quarter.
Revenue increased by 9% year-over-year, driven by 9% organic growth.
Bookings totaled $210.1 million, resulting in a book-to-bill ratio of 1.0.
Record backlog of $945.3 million, a 30% increase compared to the prior year.
Completed acquisition of Physical Optics Corporation.
Forward Guidance
For the third quarter of fiscal 2021, revenues are forecasted to be in the range of $245.0 million to $255.0 million. For the full fiscal year 2021, the company currently expects revenue of $925.0 million to $945.0 million.
Positive Outlook
- Revenues are forecasted to be in the range of $245.0 million to $255.0 million for the third quarter of fiscal 2021.
- GAAP net income for the third quarter is expected to be approximately $15.9 million to $17.8 million, or $0.29 to $0.32 per share.
- Adjusted EBITDA for the third quarter of fiscal 2021 is expected to be in the range of $52.0 million to $54.5 million.
- Adjusted EPS is expected to be in the range of $0.59 to $0.63 per share.
- For the full fiscal year 2021, the company currently expects revenue of $925.0 million to $945.0 million.
Challenges Ahead
- GAAP net income of $69.1 million to $72.8 million, or $1.24 to $1.31 per share for the full fiscal year is assuming no incremental restructuring.
- GAAP net income of $69.1 million to $72.8 million, or $1.24 to $1.31 per share for the full fiscal year is assuming no acquisition.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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