Mercury Systems (MRCY), a defense technology company, reported first-quarter adjusted EPS of $0.52 and revenue of $253 million, both above analyst estimates. Revenue grew 12.4% year over year, record bookings reached $370 million, adjusted EBITDA rose 58.6% to $56 million, and total backlog stood at $2.1 billion. Management raised its full-year outlook and now expects double-digit revenue growth. Shares fell 2.7% in after-hours trading on Nov. 10 despite the results, then rose the following day after JPMorgan upgraded the stock.
The defense firm reported adjusted EPS of $0.52 on $253 million in revenue, driven by record bookings and strong demand for radar and electronic warfare systems.
Read the full storyMercury Systems reported an adjusted EPS of $0.52, beating estimates, but shares fell in after-hours trading despite record first-quarter bookings of $370 million.