Mercury Systems (MRCY) FY2017 results: revenue $409 million, up 51.2% on the year
Mercury Systems Inc. (MRCY) reported revenue of $409 million for fiscal 2017, the year ended 30 June 2017, up 51.2% on the year before. Net income was $25 million, up 26.0%, and diluted earnings per share $0.58. The figures are the company's own, from the 10-K it filed with the SEC on 18 August 2017.
Revenue
$409 million
+51.2% on the year
FY2010FY2017
Operating margin
9.2%
8.9% a year earlier
FY2010FY2017
Net income
$25 million
+26.0% on the year
FY2010FY2017
Diluted EPS
$0.58
+3.6% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
409
270
235
+51.2%
Cost of revenue
217
143
121
+52.3%
Gross profit
192
128
114
+50.1%
Gross margin
46.9%
47.2%
48.6%
Research and development
54.1
36.4
36.5
+48.6%
Selling, general and administrative
76.5
53.0
49.0
+44.5%
Operating income
37.4
24.0
18.4
+56.0%
Operating margin
9.2%
8.9%
7.8%
Interest expense
7.6
1.2
0.0
+545.7%
Pre-tax income
31.1
25.3
18.8
+22.9%
Income tax
6.2
5.5
4.4
+11.7%
Effective tax rate
19.9%
21.9%
23.2%
Net income
24.9
19.7
10.4
+26.0%
Net margin
6.1%
7.3%
4.4%
Diluted EPS
$0.58
$0.56
$0.31
+3.6%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
59.1
36.9
32.2
+60.1%
Capital expenditure
32.8
7.9
6.0
+316.5%
Free cash flow
26.3
29.1
26.2
-9.5%
Free cash flow margin
6.4%
10.8%
11.2%
Cash from investing
-111
-318
-5.6
Cash from financing
11.3
285
3.9
-96.0%
Depreciation and amortisation
32.3
15.7
13.8
+105.0%
Share-based compensation
15.3
9.6
8.7
+60.2%
Buybacks
8.8
8.0
0.9
+10.2%
Diluted shares, weighted
43m
35m
33m
+22.6%
Shares outstanding at period end
46m
39m
33m
+19.7%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
725
473
350
+53.4%
Debt
0.0
192
0.0
Other liabilities
90.3
71.2
36.7
+26.9%
Total liabilities and equity
816
736
387
+10.8%
Fixed assets
51.6
28.3
13.2
+82.2%
Goodwill
381
344
168
+10.7%
Intangible assets
129
117
18.0
+10.6%
Cash and equivalents
41.6
81.7
77.6
-49.0%
Receivables
76.3
73.4
31.8
+4.0%
Inventory
81.1
58.3
32.0
+39.1%
Other assets
55.2
34.1
46.2
+62.0%
Total assets
816
736
387
+10.8%
10-K for the year ended 30 June 2017, filed 18 August 2017: the filing.