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Mercury Systems: Fiscal 3Q Earnings Snapshot

ANDOVER, Mass. (AP) _ Mercury Systems Inc. (MRCY) on Tuesday reported fiscal third-quarter net income of $23.6 million.

The Andover, Massachusetts-based company said it had net income of 43 cents per share. Earnings, adjusted for one-time gains and costs, came to 60 cents per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.

The maker of processing systems and software posted revenue of $208 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $199.5 million.

For the current quarter ending in June, Mercury Systems expects its per-share earnings to range from 54 cents to 58 cents.

The company said it expects revenue in the range of $205.8 million to $215.8 million for the fiscal fourth quarter.

Mercury Systems expects full-year earnings in the range of $2.12 to $2.16 per share, with revenue ranging from $785 million to $795 million.

Mercury Systems shares have climbed 23% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $85, an increase of 17% 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