Mercury systems, inc. (MRCY)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10
Net revenues

208,016

193,913

177,304

176,963

174,636

159,089

144,056

152,867

116,336

117,912

106,069

115,608

107,317

98,014

87,649

85,430

65,898

60,417

58,409

64,119

59,578

57,089

54,061

53,678

53,393

50,932

50,726

40,876

54,123

49,804

49,428

53,000

66,989

67,959

49,122

61,234

59,855

55,513

52,108

Cost of revenues

114,691

105,407

98,904

97,124

100,789

88,202

82,473

84,609

63,570

63,752

55,395

61,681

56,534

50,625

48,205

47,254

34,496

30,678

30,107

28,871

31,660

30,054

30,062

29,197

29,017

26,607

29,164

23,254

31,549

32,232

29,038

25,084

31,926

27,046

19,206

26,517

26,973

23,873

21,448

Gross margin

93,325

88,506

78,400

79,839

73,847

70,887

61,583

68,258

52,766

54,160

50,674

53,927

50,783

47,389

39,444

38,176

31,402

29,739

28,302

35,248

27,918

27,035

23,999

24,481

24,376

24,325

21,562

17,622

22,574

17,572

20,390

27,916

35,063

40,913

29,916

34,717

32,882

31,640

30,660

Operating expenses:
Selling, general and administrative

33,991

32,804

29,970

30,746

27,411

27,819

24,741

25,437

21,138

21,222

20,568

20,398

19,229

19,320

17,544

15,556

12,687

12,583

12,126

12,201

11,842

12,677

12,290

13,057

12,363

13,944

14,321

11,739

13,918

14,574

14,533

12,344

15,217

14,419

13,645

15,215

14,437

14,019

14,197

Research and development

24,967

24,660

21,870

20,346

17,439

16,192

14,948

14,857

15,021

15,187

13,742

13,894

14,198

13,156

12,838

10,497

8,180

8,845

8,866

12,574

8,115

7,895

7,951

8,073

8,166

10,142

9,312

7,474

7,503

7,588

10,039

10,943

11,452

11,724

11,865

12,439

10,683

10,479

10,899

Amortization of intangible assets

7,848

7,992

7,019

7,008

6,786

6,939

7,181

7,436

7,104

5,827

5,637

5,458

4,732

4,888

4,602

3,737

1,754

1,638

1,713

1,740

1,744

1,762

1,762

1,763

1,777

1,803

1,985

1,848

2,356

2,230

1,788

900

1,143

692

816

685

663

317

319

Impairment of long-lived assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

231

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Restructuring and other charges

66

1,101

648

-13

46

23

504

1,367

1,384

313

95

1,127

459

69

297

272

409

221

338

718

27

1,162

1,268

1,884

3,477

97

-15

1,631

228

217

4,984

-

-

-

-

-

-

-

-

Acquisition costs and other related expenses

111

1,124

1,417

901

103

53

399

273

1,281

723

261

42

470

998

421

460

1,553

-148

2,128

84

33

0

0

-

0

-

-

14

32

42

230

456

145

593

25

5

100

307

0

Total operating expenses

66,983

67,681

60,924

58,988

51,785

51,026

47,773

49,370

45,928

43,272

40,303

40,919

39,088

38,431

35,702

30,522

24,583

23,370

25,171

27,317

21,761

23,496

23,271

24,777

25,783

25,986

25,603

22,706

24,037

24,651

31,574

22,417

27,957

27,428

26,351

28,494

25,883

25,122

25,415

Income from operations

26,342

20,825

17,476

20,851

22,062

19,861

13,810

18,888

6,838

10,888

10,371

13,008

11,695

8,958

3,742

7,654

6,819

6,369

3,131

7,931

6,157

3,539

728

-296

-1,407

-1,661

-4,041

-5,084

-1,463

-7,079

-11,184

5,499

7,106

13,485

3,565

6,223

6,999

6,518

5,245

Interest income

458

312

1,187

590

205

71

66

10

0

3

19

275

137

10

40

42

39

26

24

8

6

4

3

3

2

3

1

1

2

2

2

1

3

3

6

15

6

6

7

Interest expense

58

0

0

2,181

2,473

2,196

2,259

1,741

999

107

3

1,955

1,893

1,898

1,822

1,162

3

5

2

11

7

8

8

12

11

11

15

8

7

15

8

14

8

9

9

11

10

49

9

Other income (expense), net

2,186

-351

-1,434

-6,673

-328

-870

-1,009

-529

66

-316

-815

-21

279

-87

600

2,056

144

83

71

54

7

398

-6

323

337

440

432

79

24

116

339

363

524

394

405

252

390

404

516

Income before income taxes

28,928

20,786

17,229

12,587

19,466

16,866

10,608

16,628

5,905

10,468

9,572

11,307

10,218

6,983

2,560

8,590

6,999

6,473

3,224

7,982

6,163

3,933

717

18

-1,079

-1,229

-3,623

-5,012

-1,444

-6,976

-10,851

5,849

7,625

13,873

3,967

6,479

7,385

6,879

5,759

Tax provision

5,363

5,110

-2,018

-217

5,357

4,483

3,129

6,527

2,209

1,335

-8,381

2,503

3,170

1,779

-1,259

1,101

2,642

1,433

368

1,850

1,469

1,047

0

729

-809

-442

-1,319

-2,426

-2,232

-2,192

-3,651

469

2,380

4,828

1,314

2,280

2,007

1,696

2,077

Income from continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,132

4,694

2,886

717

-711

-270

-787

-2,304

-

-

-

-

-

-

-

-

-

5,378

5,183

3,682

Loss from discontinued operations, net of income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-202

-1,019

-2,621

-218

-6,835

-308

-258

48

-

-

-

-

-

-

-

-

-

0

0

-52

Net income

23,565

15,676

19,247

12,804

14,109

12,383

7,479

10,101

3,696

9,133

17,953

8,804

7,048

5,204

3,819

7,489

4,357

5,040

2,856

5,930

3,675

265

499

-7,546

-578

-1,045

-2,256

-2,012

788

-4,784

-7,200

5,676

5,245

9,045

2,653

4,251

5,378

5,183

3,630

Basic net earnings (loss) per share:
(Loss) income from continuing operations (dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.20

0.14

0.09

0.02

-0.03

-0.01

-0.02

-0.07

-0.09

0.03

-0.16

-0.24

0.18

0.18

0.31

0.09

-

0.20

0.22

0.16

(Loss) income from discontinued operations (dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

-0.01

0.00

Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Basic Share

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-0.03

-0.08

0.00

-

-0.01

-0.01

-

-

-

-

-

-

-

-

-

-

-

-

-

Basic net earnings per share (in dollars per share)

0.43

0.29

0.35

0.26

0.30

0.26

0.16

0.21

0.08

0.20

0.39

0.20

0.16

0.13

0.10

0.21

0.13

0.15

0.09

0.18

0.11

0.01

0.02

-0.25

-0.02

-0.03

-0.07

-

-

-

-

-

-

-

-

0.15

0.20

0.22

0.16

Diluted net earnings (loss) per share:
(Loss) income from continuing operations (dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.19

0.14

0.09

0.02

-0.03

-0.01

-0.02

-0.07

-0.09

0.03

-0.16

-0.24

0.18

0.17

0.30

0.09

-

0.20

0.22

0.16

(Loss) income from discontinued operations (dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

0.00

Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Diluted Share

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-0.03

-0.08

0.00

-

-0.01

-0.01

-

-

-

-

-

-

-

-

-

-

-

-

-

Diluted net earnings per share (in dollars per share)

0.43

0.29

0.35

0.25

0.29

0.26

0.16

0.21

0.08

0.19

0.38

0.19

0.16

0.13

0.10

0.20

0.13

0.15

0.08

0.17

0.11

0.01

0.02

-0.25

-0.02

-0.03

-0.07

-

-

-

-

-

-

-

-

0.12

0.20

0.22

0.16

Weighted-average shares outstanding:
Basic (in shares)

54,604

54,548

54,388

49,829

47,258

47,189

47,048

46,776

46,844

46,752

46,504

46,155

43,773

39,151

38,865

37,815

33,251

33,120

32,778

32,471

32,298

32,052

31,635

31,203

31,156

30,988

30,653

30,287

30,235

30,107

29,883

29,612

29,562

29,457

29,277

28,973

26,272

23,099

22,944

Diluted (in shares)

55,127

55,001

55,078

50,640

47,958

47,705

47,697

47,416

47,532

47,447

47,489

47,408

44,814

39,985

39,865

38,950

33,991

33,831

33,616

33,356

33,233

32,686

32,481

31,203

31,156

30,988

30,653

30,112

30,410

30,107

29,883

30,170

30,168

29,969

30,033

30,103

27,324

23,998

23,411

Comprehensive income:
Net income

23,565

15,676

19,247

12,804

14,109

12,383

7,479

10,101

3,696

9,133

17,953

8,804

7,048

5,204

3,819

7,489

4,357

5,040

2,856

5,930

3,675

265

499

-7,546

-578

-1,045

-2,256

-2,012

788

-4,784

-7,200

5,676

5,245

9,045

2,653

4,251

5,378

5,183

3,630

Change in fair value of derivative instruments, net of tax

0

-

-

-

-2,147

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Foreign currency translation adjustments

344

-192

75

135

-210

205

-362

376

-457

22

-78

107

133

-341

8

89

93

-28

17

-27

0

-111

-97

57

23

-74

59

-66

-173

-132

12

22

-12

-20

63

10

62

73

166

Pension benefit plan, net of tax

-7

-8

-7

2,305

15

15

15

-309

-5

-10

-30

-220

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total other comprehensive income (loss), net of tax

351

-184

82

-23

-2,372

190

-377

685

-452

32

-48

327

133

-341

8

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net unrealized (loss) gain on investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

21

-

-

-

-5

-

-

-

0

Total comprehensive income

23,916

15,492

19,329

12,781

11,737

12,573

7,102

10,786

3,244

9,165

17,905

9,131

7,181

4,863

3,827

7,578

4,450

5,012

2,873

5,903

3,675

154

402

-7,505

-555

-1,119

-2,197

-2,084

615

-4,916

-7,167

5,701

5,233

9,025

2,711

4,263

5,440

5,256

3,796