Mercury Systems (MRCY) reported fourth-quarter fiscal 2024 results, wherein both top and bottom lines beat the Zacks Consensus Estimate. The aerospace and defense tech firm reported non-GAAP earnings of 23 cents per share against the Zacks Consensus Estimate of a loss of 7 cents. The bottom line surged 109.1% year over year. Mercury Systems' non-GAAP revenues decreased 1.8% to $248.6 million. The top line beat the consensus mark by 11.7%. The results reflected solid progress in each of the priority focus ar ...

Mercury Systems (MRCY) reported $248.56 million in revenue for the quarter ended June 2024, representing a year-over-year decline of 1.9%. EPS of $0.23 for the same period compares to $0.11 a year ago. The reported revenue represents a surprise of +11.07% over the Zacks Consensus Estimate of $223.8 million. With the consensus EPS estimate being -$0.07, the EPS surprise was +428.57%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wa ...

Q4 FY24 Bookings of $284.4 million; book-to-bill ratio of 1.14 Q4 FY24 Revenue of $248.6 million; GAAP net loss and adjusted EBITDA ($10.8) million and $31.2 million, respectively Record backlog of $1.3 billion; up 16% year-over-year ANDOVER, Mass., Aug. 13, 2024 (GLOBE NEWSWIRE) -- Mercury Systems, Inc. (NASDAQ: MRCY, www.mrcy.com), reported operating results for the fourth quarter and fiscal year 2024, ended June 28, 2024. "In fiscal 2024, we made considerable progress in addressing what we believe to be ...

ANDOVER, Mass., Aug. 12, 2024 (GLOBE NEWSWIRE) -- Mercury Systems, Inc. (NASDAQ: MRCY, www.mrcy.com), a technology company that delivers mission-critical processing power to the edge, today announced the appointment of Brad Whittington as its Senior Vice President of Engineering, effective Aug. 12, 2024. Reporting to Chief Operating Officer Roger Wells, Whittington is responsible for the strategic planning, leadership, and execution of Mercury's recently integrated Engineering organization. Whittington has ...

Mercury Systems, Inc. MRCY is expected to release earnings results for its fourth quarter, after the closing bell on Tuesday, Aug. 13. Analysts expect the Andover, Massachusetts-based company to report quarterly earnings at 2 cent per share, versus a year-ago profit of 11 cents per share. Mercury Systems is projected to report quarterly revenue of $230.69 million, compared to $253.24 million a year earlier, according to data from Benzinga Pro. On June 18, Mercury named Tod Brindlinger as Senior Vice Preside ...

In its upcoming report, Mercury Systems (MRCY) is predicted by Wall Street analysts to post quarterly loss of $0.07 per share, reflecting a decline of 163.6% compared to the same period last year. Revenues are forecasted to be $223.2 million, representing a year-over-year decrease of 11.9%. The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections ov ...

Wall Street expects a year-over-year decline in earnings on lower revenues when Mercury Systems (MRCY) reports results for the quarter ended June 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on August 13, 2024, might help the stock move higher if these key numbers are better than ex ...

ANDOVER, Mass., July 23, 2024 (GLOBE NEWSWIRE) -- Mercury Systems Inc. (NASDAQ: MRCY, www.mrcy.com), a technology company that delivers mission-critical processing power to the edge, will release its fourth quarter and full fiscal year 2024 financial results after the market close on Tuesday, August 13, 2024. Management will host a conference call and simultaneous webcast at 5:00 p.m. ET on the same day to discuss Mercury's quarterly financial results, business highlights, and outlook. In addition, Company ...

Core Viewpoint - Mercury Systems (MRCY) has secured significant contracts with the U.S. Navy and other defense partners, which are expected to enhance its growth prospects despite facing competitive pressures in the defense sector [1][3][6]. Group 1: Recent Agreements and Partnerships - Mercury signed a $13.2 million agreement with the U.S. Navy to advance sensor processing technologies, aiming to reduce the time required for radar and electronic warfare capabilities [1]. - The company will develop a next-generation RF System-in-Package (SiP) that integrates advanced commercial chips, enhancing its existing RFS1140 SiP solution [2]. - A production agreement with BlueHalo will support the U.S. Space Force's Satellite Communication Augmentation Resource program, providing an FPGA-based solution for BlueHalo's BADGER system [3]. - Mercury secured a $31 million contract from L3Harris Technologies to supply solid slate data recorders for the U.S. Space Development Agency's Tranche 2 Tracking Layer satellite constellation [4]. - Earlier collaborations with Lockheed Martin focus on advancing defense and manufacturing technologies in Switzerland, particularly related to the F-35 Lightning II acquisition [11]. Group 2: Financial Performance and Market Position - In Q3 of fiscal 2024, operating expenses as a percentage of revenues increased by 790 basis points to 41.4% from 33.5% year-over-year [7]. - The consensus estimate for MRCY's fourth-quarter fiscal 2024 loss per share is projected at 5 cents, widening by 1 cent over the past 60 days, with a fiscal 2024 loss estimate of 97 cents per share, widening by 6 cents [7]. - Year-to-date, MRCY shares have declined by 18.4%, underperforming the Zacks Computer and Technology sector's growth of 29.4% and competitors like Kratos Defense & Security Solutions and Lockheed Martin [12]. Group 3: Industry Challenges - The defense sector is characterized by increasing competition from companies such as Kratos Defense & Security Solutions, Lockheed Martin, and Elbit Systems, which poses challenges for Mercury [5][6]. - The complexity of software and systems has been extending timelines for military platform development, prompting initiatives like the Office of Naval Research's Open Rapid Chipletized Approach program to enhance modularity and reduce design time [8].

ANDOVER, Mass., July 10, 2024 (GLOBE NEWSWIRE) -- Mercury Systems, Inc. (NASDAQ: MRCY, www.mrcy.com), a technology company that delivers mission-critical processing power to the edge, today announced an agreement with the U.S. Navy to advance sensor processing technologies that will allow radar and electronic warfare (EW) capabilities to be designed on much shorter timelines. Mercury Systems – Innovation that matters® "ORCA represents a significant evolution of the Mercury Processing Platform that will driv ...