Mercury Systems (MRCY) FY2014 results: revenue $209 million, up 7.5% on the year
Mercury Systems Inc. (MRCY) reported revenue of $209 million for fiscal 2014, the year ended 30 June 2014, up 7.5% on the year before. Net income was -$11 million, and diluted earnings per share $-0.37. The figures are the company's own, from the 10-K it filed with the SEC on 14 August 2014.
Revenue
$209 million
+7.5% on the year
FY2010FY2014
Operating margin
-3.5%
-12.8% a year earlier
FY2010FY2014
Net income
-$11 million
FY2010FY2014
Diluted EPS
-$0.37
FY2010FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
209
194
237
+7.5%
Cost of revenue
114
116
103
-1.8%
Gross profit
94.7
78.2
134
+21.2%
Gross margin
45.4%
40.2%
56.4%
Research and development
35.7
32.6
46.0
+9.5%
Selling, general and administrative
53.7
54.8
55.6
-2.0%
Operating income
-7.4
-24.8
29.7
Operating margin
-3.5%
-12.8%
12.5%
Interest expense
0.0
0.0
0.0
+28.9%
Pre-tax income
-5.9
-24.3
31.3
Income tax
-1.8
-10.5
9.0
Effective tax rate
n/a
n/a
28.7%
Net income
-11.4
-13.2
22.6
Net margin
-5.5%
-6.8%
9.5%
Diluted EPS
-$0.37
-$0.44
$0.75
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
14.2
-1.9
31.9
Capital expenditure
6.7
3.9
9.4
+72.7%
Free cash flow
7.5
-5.8
22.4
Free cash flow margin
3.6%
-3.0%
9.5%
Cash from investing
-6.7
-71.1
-80.8
Cash from financing
0.7
-3.7
2.0
Depreciation and amortisation
15.6
17.2
11.7
-9.3%
Share-based compensation
9.2
7.9
6.6
+16.4%
Buybacks
0.0
n/a
n/a
Diluted shares, weighted
31m
30m
30m
+2.9%
Shares outstanding at period end
31m
30m
30m
+3.0%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
327
329
333
-0.4%
Debt
0.0
0.0
0.0
Other liabilities
46.6
45.9
52.5
+1.4%
Total liabilities and equity
374
374
386
-0.2%
Fixed assets
14.1
14.5
15.9
-2.2%
Goodwill
168
168
124
+0.4%
Intangible assets
25.0
32.3
25.1
-22.6%
Cash and equivalents
47.3
39.1
116
+20.9%
Receivables
37.6
29.2
38.5
+28.7%
Inventory
31.7
37.4
25.8
-15.4%
Other assets
49.8
54.3
40.6
-8.2%
Total assets
374
374
386
-0.2%
10-K for the year ended 30 June 2014, filed 14 August 2014: the filing.