Mercury Systems (MRCY) FY2016 results: revenue $270 million, up 15.0% on the year
Mercury Systems Inc. (MRCY) reported revenue of $270 million for fiscal 2016, the year ended 30 June 2016, up 15.0% on the year before. Net income was $20 million, up 90.4%, and diluted earnings per share $0.56. The figures are the company's own, from the 10-K it filed with the SEC on 16 August 2016.
Revenue
$270 million
+15.0% on the year
FY2010FY2016
Operating margin
8.9%
7.8% a year earlier
FY2010FY2016
Net income
$20 million
+90.4% on the year
FY2010FY2016
Diluted EPS
$0.56
+80.6% on the year
FY2010FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
270
235
209
+15.0%
Cost of revenue
143
121
114
+18.1%
Gross profit
128
114
94.7
+11.8%
Gross margin
47.2%
48.6%
45.4%
Research and development
36.4
36.5
35.7
-0.4%
Selling, general and administrative
53.0
49.0
53.7
+8.0%
Operating income
24.0
18.4
-7.4
+30.6%
Operating margin
8.9%
7.8%
-3.5%
Interest expense
1.2
0.0
0.0
+3,347.1%
Pre-tax income
25.3
18.8
-5.9
+34.5%
Income tax
5.5
4.4
-1.8
+27.0%
Effective tax rate
21.9%
23.2%
n/a
Net income
19.7
10.4
-11.4
+90.4%
Net margin
7.3%
4.4%
-5.5%
Diluted EPS
$0.56
$0.31
-$0.37
+80.6%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
36.9
32.2
14.2
+14.7%
Capital expenditure
7.9
6.0
6.7
+31.8%
Free cash flow
29.1
26.2
7.5
+10.8%
Free cash flow margin
10.8%
11.2%
3.6%
Cash from investing
-318
-5.6
-6.7
Cash from financing
285
3.9
0.7
+7,195.6%
Depreciation and amortisation
15.7
13.8
15.6
+13.7%
Share-based compensation
9.6
8.7
9.2
+9.7%
Buybacks
8.0
0.9
0.0
+742.7%
Diluted shares, weighted
35m
33m
31m
+6.6%
Shares outstanding at period end
39m
33m
31m
+18.7%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
473
350
327
+35.1%
Debt
192
0.0
0.0
Other liabilities
71.2
36.7
46.6
+93.7%
Total liabilities and equity
736
387
374
+90.4%
Fixed assets
28.3
13.2
14.1
+114.3%
Goodwill
344
168
168
+104.6%
Intangible assets
117
18.0
25.0
+548.3%
Cash and equivalents
81.7
77.6
47.3
+5.3%
Receivables
73.4
31.8
37.6
+131.2%
Inventory
58.3
32.0
31.7
+82.4%
Other assets
34.1
46.2
49.8
-26.3%
Total assets
736
387
374
+90.4%
10-K for the year ended 30 June 2016, filed 16 August 2016: the filing.