Mercury Systems Q1 Profit Down

(RTTNews) - Mercury Systems, Inc. (MRCY) Tuesday reported first-quarter net income of $15.8 million or $0.29 per share, down from $19.2 million or $0.35 per share last year.

Adjusted earnings were $0.51 per share for the first quarter, up from $0.45 per share last year.

First-quarter revenues were $205.6 million, up from $177.3 million last year.

Analysts polled by Thomson Reuters expected earnings of $0.47 per share on revenue of $199.61 million.

Looking forward to the second quarter, the company expects revenues of $200.0 million to $210.0 million and adjusted earnings of $0.48 to $0.51 per share. Analysts currently estimate earnings of $0.55 per share on revenues of $213.71 million.

For the full fiscal year 2021, the company currently expects revenues of $865.0 million to $885.0 million and adjusted earnings of $2.20 to $2.28 per share. Analysts currently estimate earnings of $2.28 per share on revenues of $879.49 million.