ANDOVER, Mass. (AP) _ Mercury Systems Inc. (MRCY) on Tuesday reported fiscal first-quarter net income of $19.2 million.
The Andover, Massachusetts-based company said it had net income of 35 cents per share. Earnings, adjusted for one-time gains and costs, were 44 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.
The maker of processing systems and software posted revenue of $177.3 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $167.6 million.
For the current quarter ending in January, Mercury Systems expects its per-share earnings to range from 46 cents to 48 cents.
The company said it expects revenue in the range of $185 million to $195 million for the fiscal second quarter.
Mercury Systems expects full-year earnings in the range of $2.03 to $2.11 per share, with revenue ranging from $775 million to $790 million.
Mercury Systems shares have increased 52% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $72.09, a rise of 66% in the last 12 months.