Loading...
•
Jul 03, 2020
Mercury Q4 2020 Earnings Report
Reported record fourth quarter and fiscal year 2020 results.
Key Takeaways
Mercury Systems reported a strong fourth quarter and fiscal year 2020, achieving record bookings, revenues, net income, EPS, and backlog. The company's resilience was evident amidst the COVID-19 pandemic, with a focus on supporting customers and ensuring employee safety. The company is well-positioned for continued growth and profitability.
Record bookings of $279 million, a 15% increase year-over-year.
Record revenue increased 23% year-over-year, with 17% organic growth.
Record net income, adjusted EBITDA, EPS and adjusted EPS were achieved.
Record backlog increased 33% year-over-year.
Mercury
Mercury
Forward Guidance
For the first quarter of fiscal 2021, revenues are forecasted to be in the range of $190.0 million to $205.0 million. GAAP net income for the first quarter is expected to be approximately $10.1 million to $12.3 million, or $0.18 to $0.22 per share. Adjusted EBITDA for the first quarter of fiscal 2021 is expected to be in the range of $38.0 million to $41.0 million. Adjusted EPS is expected to be in the range of $0.43 to $0.47 per share.
Positive Outlook
- Revenues are forecasted to be in the range of $190.0 million to $205.0 million.
- GAAP net income for the first quarter is expected to be approximately $10.1 million to $12.3 million.
- EPS is expected to be $0.18 to $0.22 per share.
- Adjusted EBITDA for the first quarter of fiscal 2021 is expected to be in the range of $38.0 million to $41.0 million.
- Adjusted EPS is expected to be in the range of $0.43 to $0.47 per share.
Challenges Ahead
- Actual performance may differ materially from estimates.
- Estimates are subject to risks including those listed in the Safe Harbor Statement.
- Assumes no incremental restructuring, acquisition, or other non-operating adjustments.
- Assumes no non-recurring financing in the period.
- Assumes an effective tax rate, excluding discrete items, of approximately 26%.