U.S. Markets open in 1 hr 45 mins

Mercury Systems: Fiscal 2Q Earnings Snapshot

ANDOVER, Mass. (AP) _ Mercury Systems Inc. (MRCY) on Tuesday reported fiscal second-quarter net income of $15.7 million.

The Andover, Massachusetts-based company said it had net income of 29 cents per share. Earnings, adjusted for one-time gains and costs, came to 54 cents per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.

The maker of processing systems and software posted revenue of $193.9 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $193 million.

For the current quarter ending in April, Mercury Systems expects its per-share earnings to range from 50 cents to 53 cents.

The company said it expects revenue in the range of $190 million to $200 million for the fiscal third quarter.

Mercury Systems shares have climbed 13% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $78, a climb of 59% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MRCY at https://www.zacks.com/ap/MRCY