$MRCY
MERCURY SYSTEMS INC

2019 Q3 Form 10-Q Financial Statement

#000104952119000047 Filed on November 05, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q3 2018 Q2
Revenue $177.3M $144.1M $177.0M
YoY Change 23.08% 0.0% 15.76%
Cost Of Revenue $98.90M $82.47M $84.60M
YoY Change 19.92% 48.88% 37.12%
Gross Profit $78.40M $61.58M $79.84M
YoY Change 27.31% 0.0% 16.97%
Gross Profit Margin 44.22% 42.75% 45.12%
Selling, General & Admin $29.97M $24.74M $25.40M
YoY Change 21.13% 20.29% 24.51%
% of Gross Profit 38.23% 40.18% 31.81%
Research & Development $21.87M $14.95M $14.90M
YoY Change 46.31% 8.78% 7.19%
% of Gross Profit 27.9% 24.27% 18.66%
Depreciation & Amortization $11.38M $11.55M $12.00M
YoY Change -1.43% 23.66% 30.43%
% of Gross Profit 14.52% 18.75% 15.03%
Operating Expenses $60.92M $47.77M $47.80M
YoY Change 27.53% 18.53% 20.4%
Operating Profit $17.48M $13.81M $20.85M
YoY Change 26.55% 0.0% 10.39%
Interest Expense $0.00 $2.259M -$1.700M
YoY Change -100.0% 75200.0% 0.0%
% of Operating Profit 0.0% 16.36% -8.15%
Other Income/Expense, Net -$1.434M -$1.009M -$500.0K
YoY Change 42.12% 23.8%
Pretax Income $17.23M $10.61M $12.59M
YoY Change 62.42% 0.0% -24.3%
Income Tax -$2.018M $3.129M -$217.0K
% Of Pretax Income -11.71% 29.5% -1.72%
Net Earnings $19.25M $7.479M $12.80M
YoY Change 157.35% 0.0% 26.76%
Net Earnings / Revenue 10.86% 5.19% 7.24%
Basic Earnings Per Share $0.35 $0.16 $0.26
Diluted Earnings Per Share $0.35 $0.35 $0.25
COMMON SHARES
Basic Shares Outstanding 54.39M shares 47.05M shares 48.19M shares
Diluted Shares Outstanding 55.08M shares 47.70M shares

Balance Sheet

Concept 2019 Q3 2018 Q3 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $161.3M $72.90M $66.50M
YoY Change 121.26% 179.31% 59.86%
Cash & Equivalents $161.3M $72.87M $66.52M
Short-Term Investments
Other Short-Term Assets $15.80M $16.30M $12.80M
YoY Change -3.07% 45.54% 30.61%
Inventory $148.5M $121.2M $108.6M
Prepaid Expenses
Receivables $108.9M $113.9M $104.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $503.0M $364.2M $331.7M
YoY Change 38.13% 44.52% 34.75%
LONG-TERM ASSETS
Property, Plant & Equipment $65.95M $50.83M $50.98M
YoY Change 29.74% -1.5% -1.28%
Goodwill $617.2M $520.6M $497.4M
YoY Change 18.55% 35.5% 30.61%
Intangibles $230.2M $183.6M $177.9M
YoY Change 25.37% 45.14% 37.87%
Long-Term Investments
YoY Change
Other Assets $6.191M $7.771M $6.411M
YoY Change -20.33% -6.27% -20.09%
Total Long-Term Assets $970.8M $762.8M $732.7M
YoY Change 27.27% 33.68% 28.65%
TOTAL ASSETS
Total Short-Term Assets $503.0M $364.2M $331.7M
Total Long-Term Assets $970.8M $762.8M $732.7M
Total Assets $1.474B $1.127B $1.064B
YoY Change 30.78% 37.0% 30.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $34.94M $25.73M $21.32M
YoY Change 35.82% -39.07% -22.42%
Accrued Expenses $21.74M $15.14M $16.39M
YoY Change 43.56% 42.34% -20.43%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $94.07M $82.76M $71.68M
YoY Change 13.67% 9.88% -1.6%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $240.0M $195.0M
YoY Change -100.0%
Other Long-Term Liabilities $12.24M $11.45M $11.28M
YoY Change 6.89% -0.44% -4.21%
Total Long-Term Liabilities $12.24M $11.45M $11.28M
YoY Change 6.89% -0.44% -4.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $94.07M $82.76M $71.68M
Total Long-Term Liabilities $12.24M $11.45M $11.28M
Total Liabilities $178.6M $350.4M $292.6M
YoY Change -49.03% 296.67% 223.92%
SHAREHOLDERS EQUITY
Retained Earnings $246.0M $187.4M $180.0M
YoY Change 31.23% 19.36% 29.39%
Common Stock $545.0K $472.0K $469.0K
YoY Change 15.47% 1.07% 1.3%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.295B $776.6M $771.9M
YoY Change
Total Liabilities & Shareholders Equity $1.474B $1.127B $1.064B
YoY Change 30.78% 37.0% 30.49%

Cashflow Statement

Concept 2019 Q3 2018 Q3 2018 Q2
OPERATING ACTIVITIES
Net Income $19.25M $7.479M $12.80M
YoY Change 157.35% 0.0% 26.76%
Depreciation, Depletion And Amortization $11.38M $11.55M $12.00M
YoY Change -1.43% 23.66% 30.43%
Cash From Operating Activities $24.31M $20.03M $25.60M
YoY Change 21.37% 149.49% 163.92%
INVESTING ACTIVITIES
Capital Expenditures $9.595M $3.727M -$4.000M
YoY Change 157.45% 2.73% -33.33%
Acquisitions $96.50M $46.27M
YoY Change 108.55% 671.22%
Other Investing Activities -$96.50M $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities -$106.1M -$50.00M -$4.100M
YoY Change 112.19% 399.9% -91.26%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $14.56M $6.812M
YoY Change 113.77% -49.72%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$14.56M $36.34M 1.000M
YoY Change -140.07% -368.21% -100.52%
NET CHANGE
Cash From Operating Activities $24.31M $20.03M 25.60M
Cash From Investing Activities -$106.1M -$50.00M -4.100M
Cash From Financing Activities -$14.56M $36.34M 1.000M
Net Change In Cash -$96.63M $6.366M 22.50M
YoY Change -1617.95% -141.01% -109.81%
FREE CASH FLOW
Cash From Operating Activities $24.31M $20.03M $25.60M
Capital Expenditures $9.595M $3.727M -$4.000M
Free Cash Flow $14.72M $16.30M $29.60M
YoY Change -9.74% 270.5% 88.54%

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CY2019Q3 us-gaap Increase Decrease In Prepaid Taxes
IncreaseDecreaseInPrepaidTaxes
3087000 USD
CY2018Q3 us-gaap Increase Decrease In Prepaid Taxes
IncreaseDecreaseInPrepaidTaxes
2977000 USD
CY2019Q3 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
877000 USD
CY2018Q3 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
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IncreaseDecreaseInOtherNoncurrentAssets
64000 USD
CY2018Q3 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
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CY2019Q3 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-6275000 USD
CY2018Q3 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-2025000 USD
CY2019Q3 us-gaap Increase Decrease In Deferred Revenue And Customer Advances And Deposits
IncreaseDecreaseInDeferredRevenueAndCustomerAdvancesAndDeposits
-826000 USD
CY2018Q3 us-gaap Increase Decrease In Deferred Revenue And Customer Advances And Deposits
IncreaseDecreaseInDeferredRevenueAndCustomerAdvancesAndDeposits
8828000 USD
CY2019Q3 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-2972000 USD
CY2018Q3 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
1873000 USD
CY2019Q3 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-1190000 USD
CY2018Q3 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
73000 USD
CY2019Q3 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
24310000 USD
CY2018Q3 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
20029000 USD
CY2019Q3 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
96502000 USD
CY2018Q3 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
46273000 USD
CY2019Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
9595000 USD
CY2018Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3727000 USD
CY2019Q3 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-106097000 USD
CY2018Q3 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-50000000 USD
CY2019Q3 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3000 USD
CY2018Q3 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
CY2019Q3 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
14562000 USD
CY2018Q3 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
6812000 USD
CY2019Q3 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
0 USD
CY2018Q3 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
45000000 USD
CY2019Q3 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
CY2018Q3 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1851000 USD
CY2019Q3 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-14559000 USD
CY2018Q3 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
36337000 USD
CY2019Q3 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-287000 USD
CY2018Q3 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-18000 USD
CY2019Q3 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-96633000 USD
CY2018Q3 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
6348000 USD
CY2019Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
257932000 USD
CY2018Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
66521000 USD
CY2019Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
161299000 USD
CY2018Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
72869000 USD
CY2019Q3 us-gaap Interest Paid Net
InterestPaidNet
0 USD
CY2018Q3 us-gaap Interest Paid Net
InterestPaidNet
3442000 USD
CY2019Q3 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
3647000 USD
CY2018Q3 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
4291000 USD
CY2019Q3 us-gaap Nature Of Operations
NatureOfOperations
<div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Description of Business</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Mercury Systems, Inc. (the “Company” or “Mercury”) is a leading commercial provider of secure sensor and safety-critical mission processing subsystems. Headquartered in Andover, Massachusetts, the Company is delivering solutions that power a broad range of critical aerospace, commercial aviation, defense and intelligence programs, configured and optimized for mission success in some of the most challenging and demanding environments. The Company's innovative next-generation defense electronics business model is designed to meet the industry’s current and emerging technology and business needs by delivering affordable state-of-the-art solutions, rapid time-to-value, service and support to the Company's defense prime contractor customers. The Company's products and solutions have been deployed in more than </span><span style="font-family:inherit;font-size:10pt;"><span>300</span></span><span style="font-family:inherit;font-size:10pt;"> programs with over </span><span style="font-family:inherit;font-size:10pt;"><span>25</span></span><span style="font-family:inherit;font-size:10pt;"> different defense prime contractors, a testament to its deep domain expertise and culture of innovation.</span></div>
CY2019Q3 mrcy Natureof Business Numberof Programs Using Productsand Services
NatureofBusinessNumberofProgramsUsingProductsandServices
300 program
CY2019Q3 mrcy Natureof Business Numberof Contractors Using Productsand Services
NatureofBusinessNumberofContractorsUsingProductsandServices
25 contractor
CY2019Q3 us-gaap Use Of Estimates
UseOfEstimates
<div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">U</span><span style="font-family:inherit;font-size:8pt;">SE</span><span style="font-family:inherit;font-size:10pt;"> </span><span style="font-family:inherit;font-size:8pt;">OF</span><span style="font-family:inherit;font-size:10pt;"> E</span><span style="font-family:inherit;font-size:8pt;">STIMATES</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.</span></div>
CY2019Q3 us-gaap Revenue Recognition Deferred Revenue
RevenueRecognitionDeferredRevenue
<div style="line-height:120%;padding-top:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">R</span><span style="font-family:inherit;font-size:8pt;">EVENUE</span><span style="font-family:inherit;font-size:10pt;"> R</span><span style="font-family:inherit;font-size:8pt;">ECOGNITION</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company recognizes revenue in accordance with ASC 606, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue from Contracts with Customers</span><span style="font-family:inherit;font-size:10pt;">, (“ASC 606”). The Company is a leading commercial provider of secure sensor and safety-critical mission processing subsystems. Revenues are derived from the sales of products that are grouped into one of the following three categories: (i) components; (ii) modules and sub-assemblies; and (iii) integrated subsystems. The Company also generates revenues from the performance of services, including systems engineering support, consulting, maintenance and other support, testing and installation. Each promised good or service within a contract is accounted for separately under the guidance of ASC 606 if they are distinct. Promised goods or services not meeting the criteria for being a distinct performance obligation are bundled into a single performance obligation with other goods or services that together meet the criteria for being distinct. The appropriate allocation of the transaction price and recognition of revenue is then determined for the bundled performance obligation.</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Revenue recognized at a point in time generally relates to contracts that include a combination of components, modules and sub-assemblies, integrated subsystems and related system integration or other services. Contracts with distinct performance obligations recognized at a point in time, with or without an allocation of the transaction price, totaled </span><span style="font-family:inherit;font-size:10pt;"><span>73%</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>79%</span></span><span style="font-family:inherit;font-size:10pt;"> of revenues for the </span><span style="font-family:inherit;font-size:10pt;">first</span><span style="font-family:inherit;font-size:10pt;"> quarters ended </span><span style="font-family:inherit;font-size:10pt;">September 27, 2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">September 30, 2018</span><span style="font-family:inherit;font-size:10pt;">, respectively. </span></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company also engages in long-term contracts for development, production and service activities and recognizes revenue for performance obligations over time. These long-term contracts involve the design, development, manufacture, or modification of complex modules and sub-assemblies or integrated subsystems and related services. Long-term contracts include both fixed-price and cost reimbursable contracts. The Company’s cost reimbursable contracts typically include cost-plus fixed fee and time and material contracts.</span></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Total revenue recognized under long-term contracts over time was </span><span style="font-family:inherit;font-size:10pt;"><span>27%</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>21%</span></span><span style="font-family:inherit;font-size:10pt;"> of total revenues the </span><span style="font-family:inherit;font-size:10pt;">first</span><span style="font-family:inherit;font-size:10pt;"> quarters ended </span><span style="font-family:inherit;font-size:10pt;">September 27, 2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">September 30, 2018</span><span style="font-family:inherit;font-size:10pt;">, respectively. </span></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company generally does not provide its customers with rights of product return other than those related to assurance warranty provisions that permit repair or replacement of defective goods over a period of 12-36 months. The Company accrues for anticipated warranty costs upon product shipment. The Company does not consider activities related to such assurance warranties, if any, to be a separate performance obligation. The Company does offer separately priced extended warranties which generally range from 12 to 36 months that are treated as separate performance obligations. The transaction price allocated to extended warranties is recognized over time in proportion to the costs expected to be incurred in satisfying the obligations under the contract. </span></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">All revenues are reported net of government assessed taxes (e.g., sales taxes or value-added taxes). Refer to Note L for disaggregation of revenue for the period.</span></div>
CY2019Q3 us-gaap Basis Of Accounting
BasisOfAccounting
<div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">A</span><span style="font-family:inherit;font-size:8pt;">CCOUNTS</span><span style="font-family:inherit;font-size:10pt;"> R</span><span style="font-family:inherit;font-size:8pt;">ECEIVABLE    </span></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accounts receivable, net, represents amounts that have been billed and are currently due from customers. The Company maintains an allowance for doubtful accounts to provide for the estimated amount of receivables that will not be collected. The Company provides credit to customers in the normal course of business. The Company performs ongoing credit evaluations of its customers’ financial condition and limits the amount of credit extended as necessary. The allowance is based upon an assessment of the customers’ credit worthiness, history with the customer, and the age of the receivable balance. The Company typically invoices a customer upon shipment of the product (or completion of a service) for contracts where revenue is recognized at a point in time. For contracts where revenue is recognized over time, the invoicing events are typically based on specified performance obligation deliverables or milestone events, or quantifiable measures of performance. </span></div>
CY2019Q3 us-gaap Costs In Excess Of Billings On Uncompleted Contracts Or Programs Expected To Be Collected Within One Year
CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear
68568000 USD
CY2019Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
11940000 USD
CY2019Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
5376000 USD
CY2019Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
214880000 USD
CY2019Q3 mrcy Percentage Of Revenue Recognized
PercentageOfRevenueRecognized
0.75
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
54388000 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47048000 shares
CY2019Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
690000 shares
CY2018Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
649000 shares
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55078000 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47697000 shares
CY2019Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
154000 shares
CY2018Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
208000 shares
CY2019Q3 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
1737000 USD
CY2018Q3 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
3398000 USD
CY2019Q2 us-gaap Goodwill
Goodwill
562146000 USD
CY2019Q3 us-gaap Goodwill
Goodwill
617175000 USD
CY2019Q3 us-gaap Restructuring Charges
RestructuringCharges
648000 USD
CY2019Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-2018000 USD
CY2018Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3129000 USD
CY2019Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
17229000 USD
CY2018Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
10608000 USD
CY2019Q3 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
6127000 USD
CY2018Q3 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
1649000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-7000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
15000 USD
CY2019Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
351000 USD
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5659000 USD
CY2018Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4679000 USD
CY2019Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1471000 USD
CY2018Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1281000 USD
CY2019Q3 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
4188000 USD
CY2019Q3 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2019Q3 us-gaap Revenues
Revenues
177304000 USD
CY2019Q3 us-gaap Revenues
Revenues
177304000 USD
CY2018Q3 us-gaap Revenues
Revenues
144056000 USD
CY2018Q3 us-gaap Revenues
Revenues
144056000 USD
CY2019Q3 us-gaap Revenues
Revenues
177304000 USD
CY2018Q3 us-gaap Revenues
Revenues
144056000 USD
CY2019Q3 us-gaap Revenues
Revenues
177304000 USD
CY2018Q3 us-gaap Revenues
Revenues
144056000 USD
CY2019Q3 us-gaap Revenues
Revenues
177304000 USD
CY2018Q3 us-gaap Revenues
Revenues
144056000 USD
CY2019Q3 us-gaap Noncurrent Assets
NoncurrentAssets
65946000 USD
CY2018Q2 us-gaap Noncurrent Assets
NoncurrentAssets
60001000 USD
CY2019Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
51312000 USD
CY2019Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
7123000 USD
CY2019Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
5015000 USD
CY2019Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y4M24D
CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0481
CY2019Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
53063000 USD
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
60186000 USD
CY2019Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
1845000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
8028000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
9628000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
8990000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
8104000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
7117000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
39192000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
81059000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
17089000 USD
CY2019Q3 mrcy Lessee Operating Lease Unused Incentives For Tenant Improvement
LesseeOperatingLeaseUnusedIncentivesForTenantImprovement
3784000 USD
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
60186000 USD
CY2018Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
6995000 USD
CY2018Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
9423000 USD
CY2018Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
8346000 USD
CY2018Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
7847000 USD
CY2018Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
7208000 USD
CY2018Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
23874000 USD
CY2018Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
63693000 USD
CY2019Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
2616000 USD

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