Mercury Systems (MRCY) FY2018 results: revenue $493 million, up 20.7% on the year
Mercury Systems Inc. (MRCY) reported revenue of $493 million for fiscal 2018, the year ended 30 June 2018, up 20.7% on the year before. Net income was $41 million, up 64.4%, and diluted earnings per share $0.86. The figures are the company's own, from the 10-K it filed with the SEC on 16 August 2018.
Revenue
$493 million
+20.7% on the year
FY2011FY2018
Operating margin
9.5%
9.2% a year earlier
FY2011FY2018
Net income
$41 million
+64.4% on the year
FY2011FY2018
Diluted EPS
$0.86
+48.3% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
493
409
270
+20.7%
Cost of revenue
267
217
143
+23.2%
Gross profit
226
192
128
+17.9%
Gross margin
45.8%
46.9%
47.2%
Research and development
58.8
54.1
36.4
+8.7%
Selling, general and administrative
88.4
76.5
53.0
+15.5%
Operating income
47.0
37.4
24.0
+25.6%
Operating margin
9.5%
9.2%
8.9%
Interest expense
2.9
7.6
1.2
-62.3%
Pre-tax income
42.6
31.1
25.3
+37.0%
Income tax
1.7
6.2
5.5
-72.7%
Effective tax rate
4.0%
19.9%
21.9%
Net income
40.9
24.9
19.7
+64.4%
Net margin
8.3%
6.1%
7.3%
Diluted EPS
$0.86
$0.58
$0.56
+48.3%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
43.3
59.1
36.9
-26.8%
Capital expenditure
15.1
32.8
7.9
-54.0%
Free cash flow
28.2
26.3
29.1
+7.3%
Free cash flow margin
5.7%
6.4%
10.8%
Cash from investing
-201
-111
-318
Cash from financing
183
11.3
285
+1,513.5%
Depreciation and amortisation
42.3
32.3
15.7
+31.0%
Share-based compensation
17.3
15.3
9.6
+12.9%
Buybacks
15.5
8.8
8.0
+76.9%
Diluted shares, weighted
47m
43m
35m
+10.4%
Shares outstanding at period end
46m
46m
39m
0.0%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
772
725
473
+6.4%
Debt
195
0.0
192
Other liabilities
97.6
90.3
71.2
+8.0%
Total liabilities and equity
1,064
816
736
+30.5%
Fixed assets
51.0
51.6
28.3
-1.3%
Goodwill
497
381
344
+30.6%
Intangible assets
178
129
117
+37.9%
Cash and equivalents
66.5
41.6
81.7
+59.8%
Receivables
104
76.3
73.4
+36.3%
Inventory
109
81.1
58.3
+33.9%
Other assets
59.0
55.2
34.1
+7.0%
Total assets
1,064
816
736
+30.5%
10-K for the year ended 30 June 2018, filed 16 August 2018: the filing.