2nd Quarter Fiscal Year 2019 Financial Results & GECO Avionics, LLC Acquisition Overview
Financial highlights
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Bookings up 29%
• Record revenue up 35%
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Q2 FY19 vs. Q2 FY18
• GAAP net income up 36%
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Adjusted EBITDA up 39%
Record backlog up 39%
Operating cash flow up 188%
Free cash flow up 279%
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(1)
Organic revenue ¹¹ up 11%
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© 2019 Mercury Systems, Inc.
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LTM Q2 FY19 vs. LTM Q2 FY18
Bookings up 40%
Revenue up 28%
Organic revenue up 9%
(¹)
GAAP net income down 22%(²)
Adjusted EBITDA up 26%
Backlog up 39%
Operating cash flow up 40%
Free cash flow up 116%
(1) Organic revenue represents total company revenue excluding net revenue from acquisitions for the first four full quarters since the entities' acquisition date (which excludes any intercompany
transactions). After the completion of four fiscal quarters, acquired businesses are treated as organic for current and comparable historical periods.
(2)
LTM Q2 FY18 net income includes discrete tax benefits associated with the revaluation of excess tax benefits associated with the Tax Act as well as net operating loss carry-forwards of the
Carve-Out Business acquired from Microsemi Corporation.
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