Mercury Systems To Acquire American Panel Corp.; Q4 Profit Beats Estimates

(RTTNews) - Mercury Systems, Inc. (MRCY) has agreed to acquire American Panel Corp., an innovator in large area display technology. The purchase price was $100 million. Their technology is used in platforms, including the U.S. Army's Apache attack helicopter and M1A2 Abrams battle tank, as well as the F-35, F-15, F-16 and F-18 fighter jets.

For the fourth-quarter, adjusted earnings per share was $0.47, flat with prior year. On average, 9 analysts polled by Thomson Reuters expected the company to report profit per share of $0.44, for the quarter. Analysts' estimates typically exclude special items.

Fourth-quarter total company revenues were $177.0 million, compared to $152.9 million, prior year. Analysts expected revenue of $172.08 million for the quarter.

For the first quarter, revenues are forecasted to be in the range of $160.0 million to $170.0 million. Adjusted EPS is expected to be in the range of $0.39 to $0.42 per share. Analysts expect the company to report profit per share of $0.42 on revenue of $163.48 million.

For fiscal 2020, the company currently expects revenue of $740.0 million to $760.0 million. Adjusted EPS is expected to be approximately $1.97 to $2.08 per share. Analysts expect the company to report profit per share of $1.93 on revenue of $726.62 million.