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Mercury Systems tops Street 3Q forecasts

CHELMSFORD, Mass. (AP) _ Mercury Systems Inc. (MRCY) on Tuesday reported fiscal third-quarter net income of $7 million.

On a per-share basis, the Chelmsford, Massachusetts-based company said it had net income of 16 cents.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share.

The maker of processing systems and software posted revenue of $107.3 million in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $105.3 million.

For the current quarter ending in June, Mercury Systems said it expects revenue in the range of $112 million to $116 million.

The company expects full-year earnings to be 52 cents to 55 cents per share, with revenue ranging from $400 million to $404 million.

Mercury Systems shares have risen 27 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $38.38, an increase of 87 percent in the last 12 months.

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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

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Keywords: Mercury Systems, Earnings Report