$MRCY
MERCURY SYSTEMS INC

2019 Q4 Form 10-Q Financial Statement

#000104952120000009 Filed on February 04, 2020

View on sec.gov

Income Statement

Concept 2019 Q4 2018 Q4 2018 Q3
Revenue $193.9M $159.1M $144.1M
YoY Change 21.89% 0.0% 0.0%
Cost Of Revenue $105.4M $88.20M $82.47M
YoY Change 19.51% 38.35% 48.88%
Gross Profit $88.51M $70.89M $61.58M
YoY Change 24.86% 0.0% 0.0%
Gross Profit Margin 45.64% 44.56% 42.75%
Selling, General & Admin $32.80M $27.82M $24.74M
YoY Change 17.92% 31.09% 20.29%
% of Gross Profit 37.06% 39.24% 40.18%
Research & Development $24.66M $16.19M $14.95M
YoY Change 52.3% 6.62% 8.78%
% of Gross Profit 27.86% 22.84% 24.27%
Depreciation & Amortization $12.50M $11.80M $11.55M
YoY Change 5.93% 22.92% 23.66%
% of Gross Profit 14.12% 16.65% 18.75%
Operating Expenses $67.68M $51.03M $47.77M
YoY Change 32.64% 17.92% 18.53%
Operating Profit $20.83M $19.86M $13.81M
YoY Change 4.85% 0.0% 0.0%
Interest Expense $0.00 $2.196M $2.259M
YoY Change -100.0% 1952.34% 75200.0%
% of Operating Profit 0.0% 11.06% 16.36%
Other Income/Expense, Net -$351.0K -$870.0K -$1.009M
YoY Change -59.66% 175.32% 23.8%
Pretax Income $20.79M $16.87M $10.61M
YoY Change 23.24% 0.0% 0.0%
Income Tax $5.110M $4.483M $3.129M
% Of Pretax Income 24.58% 26.58% 29.5%
Net Earnings $15.68M $12.38M $7.479M
YoY Change 26.59% 0.0% 0.0%
Net Earnings / Revenue 8.08% 7.78% 5.19%
Basic Earnings Per Share $0.29 $0.26 $0.16
Diluted Earnings Per Share $0.29 $0.26 $0.35
COMMON SHARES
Basic Shares Outstanding 54.55M shares 47.19M shares 47.05M shares
Diluted Shares Outstanding 55.00M shares 47.71M shares 47.70M shares

Balance Sheet

Concept 2019 Q4 2018 Q4 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $182.0M $93.90M $72.90M
YoY Change 93.82% 193.44% 179.31%
Cash & Equivalents $182.0M $93.90M $72.87M
Short-Term Investments
Other Short-Term Assets $16.10M $10.70M $16.30M
YoY Change 50.47% 33.75% 45.54%
Inventory $153.6M $126.4M $121.2M
Prepaid Expenses
Receivables $132.1M $123.1M $113.9M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $545.1M $399.3M $364.2M
YoY Change 36.51% 48.49% 44.52%
LONG-TERM ASSETS
Property, Plant & Equipment $72.70M $53.13M $50.83M
YoY Change 36.83% 2.89% -1.5%
Goodwill $614.6M $519.7M $520.6M
YoY Change 18.28% 35.05% 35.5%
Intangibles $224.5M $176.7M $183.6M
YoY Change 27.08% 46.41% 45.14%
Long-Term Investments
YoY Change
Other Assets $5.834M $7.873M $7.771M
YoY Change -25.9% -19.8% -6.27%
Total Long-Term Assets $967.5M $757.3M $762.8M
YoY Change 27.75% 33.59% 33.68%
TOTAL ASSETS
Total Short-Term Assets $545.1M $399.3M $364.2M
Total Long-Term Assets $967.5M $757.3M $762.8M
Total Assets $1.513B $1.157B $1.127B
YoY Change 30.78% 38.38% 37.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $35.99M $30.75M $25.73M
YoY Change 17.03% -18.28% -39.07%
Accrued Expenses $23.91M $16.88M $15.14M
YoY Change 41.67% 61.84% 42.34%
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 $107.9M $93.18M $82.76M
YoY Change 15.78% 25.45% 9.88%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $240.0M $240.0M
YoY Change -100.0%
Other Long-Term Liabilities $12.62M $12.30M $11.45M
YoY Change 2.59% 7.39% -0.44%
Total Long-Term Liabilities $12.62M $12.30M $11.45M
YoY Change 2.59% 7.39% -0.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $107.9M $93.18M $82.76M
Total Long-Term Liabilities $12.62M $12.30M $11.45M
Total Liabilities $195.6M $360.6M $350.4M
YoY Change -45.76% 316.43% 296.67%
SHAREHOLDERS EQUITY
Retained Earnings $261.7M $199.8M $187.4M
YoY Change 30.94% 20.26% 19.36%
Common Stock $545.0K $472.0K $472.0K
YoY Change 15.47% 0.85% 1.07%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.317B $796.1M $776.6M
YoY Change
Total Liabilities & Shareholders Equity $1.513B $1.157B $1.127B
YoY Change 30.78% 38.38% 37.0%

Cashflow Statement

Concept 2019 Q4 2018 Q4 2018 Q3
OPERATING ACTIVITIES
Net Income $15.68M $12.38M $7.479M
YoY Change 26.59% 0.0% 0.0%
Depreciation, Depletion And Amortization $12.50M $11.80M $11.55M
YoY Change 5.93% 22.92% 23.66%
Cash From Operating Activities $32.10M $25.30M $20.03M
YoY Change 26.88% 187.5% 149.49%
INVESTING ACTIVITIES
Capital Expenditures -$11.30M -$7.100M $3.727M
YoY Change 59.15% 77.5% 2.73%
Acquisitions $46.27M
YoY Change 671.22%
Other Investing Activities $0.00 $1.300M $0.00
YoY Change -100.0% 550.0% -100.0%
Cash From Investing Activities -$11.30M -$5.800M -$50.00M
YoY Change 94.83% 52.63% 399.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $6.812M
YoY Change -49.72%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -300.0K 1.600M $36.34M
YoY Change -118.75% 166.67% -368.21%
NET CHANGE
Cash From Operating Activities 32.10M 25.30M $20.03M
Cash From Investing Activities -11.30M -5.800M -$50.00M
Cash From Financing Activities -300.0K 1.600M $36.34M
Net Change In Cash 20.50M 21.10M $6.366M
YoY Change -2.84% 276.79% -141.01%
FREE CASH FLOW
Cash From Operating Activities $32.10M $25.30M $20.03M
Capital Expenditures -$11.30M -$7.100M $3.727M
Free Cash Flow $43.40M $32.40M $16.30M
YoY Change 33.95% 153.12% 270.5%

Facts In Submission

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CY2018Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.26
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.63
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us-gaap Earnings Per Share Diluted
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CY2018Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
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47189000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
54468000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47118000 shares
CY2019Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2018Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47705000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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55037000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2019Q4 us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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CY2018Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
205000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-117000 USD
CY2019Q4 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
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CY2018Q4 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
15000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
30000 USD
CY2019Q4 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-184000 USD
CY2018Q4 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
190000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2019Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
15492000 USD
CY2018Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
12573000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
34821000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
19675000 USD
CY2019Q3 us-gaap Stockholders Equity
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CY2019Q4 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2019Q4 us-gaap Stock Repurchased And Retired During Period Value
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375000 USD
CY2019Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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6661000 USD
CY2019Q4 us-gaap Net Income Loss
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15676000 USD
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OtherComprehensiveIncomeLossNetOfTax
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CY2019Q4 us-gaap Stockholders Equity
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1317056000 USD
CY2018Q3 us-gaap Stockholders Equity
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CY2018Q4 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
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StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
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CY2018Q4 us-gaap Stock Repurchased And Retired During Period Value
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120000 USD
CY2018Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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5325000 USD
CY2018Q4 us-gaap Net Income Loss
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12383000 USD
CY2018Q4 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
190000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
1284739000 USD
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
3000 USD
us-gaap Stock Repurchased And Retired During Period Value
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14937000 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
12430000 USD
us-gaap Net Income Loss
NetIncomeLoss
34923000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
1317056000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
771891000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
0 USD
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
1677000 USD
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
6932000 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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9765000 USD
us-gaap Net Income Loss
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us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2018Q4 us-gaap Stockholders Equity
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796076000 USD
us-gaap Net Income Loss
NetIncomeLoss
34923000 USD
us-gaap Net Income Loss
NetIncomeLoss
19862000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
23928000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
23254000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
12190000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
9963000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-1943000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
593000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
1255000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
2144000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
13512000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
20845000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
5371000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
9422000 USD
us-gaap Increase Decrease In Prepaid Taxes
IncreaseDecreaseInPrepaidTaxes
5356000 USD
us-gaap Increase Decrease In Prepaid Taxes
IncreaseDecreaseInPrepaidTaxes
-2995000 USD
mrcy Increase Decrease In Prepaid Expense And Other
IncreaseDecreaseInPrepaidExpenseAndOther
-1137000 USD
mrcy Increase Decrease In Prepaid Expense And Other
IncreaseDecreaseInPrepaidExpenseAndOther
340000 USD
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
63000 USD
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-118000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-425000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
7215000 USD
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
6650000 USD
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
9480000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-2803000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
1872000 USD
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
3230000 USD
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
977000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
56376000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
45330000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
96502000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
45029000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
20919000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
10802000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-117421000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1677000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
14937000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
6932000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
0 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
45000000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1851000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-14934000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
37894000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
84000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
27382000 USD
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
257932000 USD
CY2018Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
66521000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
182037000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Interest Paid Net
InterestPaidNet
0 USD
us-gaap Interest Paid Net
InterestPaidNet
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us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
10454000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
4308000 USD
us-gaap Nature Of Operations
NatureOfOperations
Description of Business<div style="text-indent:24.75pt;text-align:justify;margin-top:5pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Mercury Systems, Inc. (the “Company” or “Mercury”) is the leader in making trusted, secure mission-critical technologies profoundly more accessible to aerospace and defense. Operating at the intersection of high-tech and defense, Mercury specializes in engineering, adapting and manufacturing purpose-built solutions to meet current and emerging high-tech needs. Mercury’s innovative solutions power more than 300 mission-critical aerospace, commercial aviation, defense, security and intelligence programs, including Aegis, Patriot, LTAMDS, SEWIP, F-35, JLTV, Global Hawk and Stormbreaker, delivering Innovation That Matters</span><sup style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;vertical-align:top;">®</sup><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">.</span></div><div style="text-indent:24.75pt;text-align:justify;margin-top:5pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Headquartered in Andover, MA, Mercury has pioneered a transformational defense electronics business model specifically designed to provide end-users with trusted and secure leading-edge technology, affordably and with significantly shorter lead times. Mercury’s relationships with key commercial processing technology providers, such as Intel, NVIDIA and Xilinx, coupled with its commitment to open standards architecture (“OSA”), allow it to develop products that are optimized for customer success and upgradeability. A proven portfolio of advanced capability, a demonstrated model for accelerated development and a commitment to its cultures and values, uniquely position Mercury to deliver Innovation That Matters® from chip-scale to system-scale.</span></div><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Investors and others should note that the Company announces material financial information using its website (</span><span style="background-color:rgb(255,255,255, 0.0);color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;">www.mrcy.com</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">), SEC filings, press releases, public conference calls, webcasts, and social media, including Twitter (</span><span style="background-color:rgb(255,255,255, 0.0);color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;">twitter.com/mrcy</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> and </span><span style="background-color:rgb(255,255,255, 0.0);color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;">twitter.com/mrcy_CEO</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">) and LinkedIn (</span><span style="background-color:rgb(255,255,255, 0.0);color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration: underline;">www.linkedin.com/company/mercury-systems</span>). Therefore, the Company encourages investors and others interested in Mercury to review the information the Company posts on the social media and other communication channels listed on its website.
mrcy Natureof Business Numberof Programs Using Productsand Services
NatureofBusinessNumberofProgramsUsingProductsandServices
300 program
us-gaap Use Of Estimates
UseOfEstimates
<div style="text-align:justify;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">U</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;">SE</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> </span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;">OF</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> E</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%;">STIMATES</span></div><div style="text-indent:24.75pt;text-align:justify;margin-top:6pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">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>
CY2019Q4 us-gaap Contract With Customer Asset Net
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CY2019Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
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CY2019Q4 us-gaap Contract With Customer Liability
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CY2019Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
12362 USD
CY2019Q4 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
2898000 USD
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
8274000 USD
CY2018Q4 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
1617000 USD
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
8983000 USD
CY2019Q4 us-gaap Revenue Remaining Performance Obligation
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297593000 USD
mrcy Percentage Of Revenue Recognized
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0.77
CY2019Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
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54548000 shares
CY2018Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47189000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
54468000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47118000 shares
CY2019Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
453000 shares
CY2018Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
516000 shares
CY2018Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
516000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
569000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
578000 shares
CY2019Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55001000 shares
CY2018Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47705000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55037000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47696000 shares
CY2019Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
419000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
297000 shares
CY2018Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
31000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
481000 shares
CY2019Q4 us-gaap Inventory Raw Materials Net Of Reserves
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CY2019Q2 us-gaap Inventory Raw Materials Net Of Reserves
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CY2019Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
48465000 USD
CY2019Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
38525000 USD
CY2019Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
15986000 USD
CY2019Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
14026000 USD
CY2019Q4 us-gaap Inventory Net
InventoryNet
153642000 USD
CY2019Q2 us-gaap Inventory Net
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137112000 USD
CY2019Q2 us-gaap Goodwill
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562146000 USD
CY2019Q4 us-gaap Goodwill
Goodwill
614648000 USD
CY2019Q2 us-gaap Restructuring Reserve Current
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4000 USD
us-gaap Restructuring Settlement And Impairment Provisions
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1749000 USD
us-gaap Payments For Restructuring
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733000 USD
CY2019Q4 us-gaap Restructuring Reserve Current
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1020000 USD
us-gaap Restructuring Charges
RestructuringCharges
1749000 USD
us-gaap Restructuring Charges
RestructuringCharges
1749000 USD
CY2019Q4 us-gaap Income Tax Expense Benefit
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5110000 USD
CY2018Q4 us-gaap Income Tax Expense Benefit
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4483000 USD
CY2019Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
20786000 USD
CY2018Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
16866000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3092000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
7612000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
38015000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
27474000 USD
CY2019Q4 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
353000 USD
CY2018Q4 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
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67000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
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6480000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
1716000 USD
CY2019Q4 us-gaap Letters Of Credit Outstanding Amount
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1106000 USD
CY2019Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
241000 USD
CY2019Q4 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-8000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-15000 USD
CY2018Q4 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
15000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
30000 USD
CY2019Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
481000 USD
CY2019Q4 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6531000 USD
CY2018Q4 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5284000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12190000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9963000 USD
CY2019Q4 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1698000 USD
CY2018Q4 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1427000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
3169000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
2690000 USD
CY2019Q4 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
4833000 USD
CY2018Q4 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
3857000 USD
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
9021000 USD
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
7273000 USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2019Q4 us-gaap Revenues
Revenues
193913000 USD
CY2019Q4 us-gaap Revenues
Revenues
193913000 USD
CY2018Q4 us-gaap Revenues
Revenues
159089000 USD
CY2018Q4 us-gaap Revenues
Revenues
159089000 USD
us-gaap Revenues
Revenues
371217000 USD
us-gaap Revenues
Revenues
371217000 USD
us-gaap Revenues
Revenues
303145000 USD
us-gaap Revenues
Revenues
303145000 USD
CY2019Q4 us-gaap Revenues
Revenues
193913000 USD
CY2018Q4 us-gaap Revenues
Revenues
159089000 USD
us-gaap Revenues
Revenues
371217000 USD
us-gaap Revenues
Revenues
303145000 USD
CY2019Q4 us-gaap Revenues
Revenues
193913000 USD
CY2018Q4 us-gaap Revenues
Revenues
159089000 USD
us-gaap Revenues
Revenues
371217000 USD
us-gaap Revenues
Revenues
303145000 USD
CY2019Q4 us-gaap Revenues
Revenues
193913000 USD
CY2018Q4 us-gaap Revenues
Revenues
159089000 USD
us-gaap Revenues
Revenues
371217000 USD
us-gaap Revenues
Revenues
303145000 USD
CY2019Q4 us-gaap Noncurrent Assets
NoncurrentAssets
72696000 USD
CY2018Q2 us-gaap Noncurrent Assets
NoncurrentAssets
60001000 USD
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
49826000 USD
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
7301000 USD
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
55257000 USD
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
62558000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
3524 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
5606000 USD
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y2M12D
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0484
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
5231000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
9638000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
8989000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
8139000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
7153000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
79074000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
39924000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
16516000 USD
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
62558000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
10205000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
8949000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
8280000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
7414000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
6496000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
28286000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
69630000 USD
CY2019Q4 us-gaap Operating Lease Expense
OperatingLeaseExpense
2375000 USD
us-gaap Operating Lease Expense
OperatingLeaseExpense
4991000 USD

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