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SPECIALIST DEFENSE FIRMS ON TRACK

Mercury Computer Systems

25 Oct 11. Mercury Computer Systems, Inc. (NASDAQ: MRCY, www.mc.com)reported operating results for its first quarter of fiscal 2012 ended September 30, 2011. All results are presented and compared on a continuing operations basis.

“Our business model is aligned with the government’s emerging priorities in defense procurement reform. We are strongly positioned as the premier commercial ISR subsystem outsourcing partner to the defense prime contractors. Also, we have both the right strategy and the liquidity necessary to supplement Mercury’s organic growth through acquisitions.”

First Quarter Fiscal 2012 Results

First quarter fiscal 2012 revenues were $49.1m, a decrease of $3.0m from the first quarter of the prior fiscal year. Revenues from commercial customers decreased by $10.3m, while revenues from defense customers increased by $7.3m as compared with the prior year’s first quarter.

GAAP income from continuing operations for the first quarter of fiscal 2012 was $2.7m, or $0.09 per diluted share, compared to $3.7m, or $0.16 per diluted share, for the prior year’s first quarter. First quarter fiscal 2012 GAAP income from continuing operations includes approximately $1.3m in tax expense, $1.9m in depreciation expense, $2.0m in stock-based compensation costs, and $0.8m in amortization of acquired intangible assets. First quarter fiscal 2012 adjusted EBITDA (earnings from continuing operations before interest income and expense, income taxes, depreciation, amortization of acquired intangible assets, restructuring, impairment of long-lived assets, acquisition costs and other related expenses, fair value adjustments from purchase accounting, and stock-based compensation costs) was $8.7m, compared to $8.8m for the prior year’s first quarter.

Cash flows from operating activities were a net inflow of $4.2m in the first quarter of fiscal 2012, compared to a net inflow of $9.4m in the first quarter of fiscal 2011. Free cash flow, defined as cash flow from operating activities less capital expenditures for property and equipment, in the first quarter of fiscal 2012 was a net inflow of $2.6m, compared to a net inflow of $7.8m in the first quarter of fiscal 2011. Cash and cash equivalents as of September 30, 2011 were $165.9 m, an increase of $3.0m from June 30, 2011. (Source: BUSINESS WIRE)

OSI Systems

25 Oct 11. OSI Systems, Inc. (NASDAQ: OSIS) announced financial results for the quarter ended September 30, 2011.

“We are also pleased with the very strong performance in our Optoelectronics and Manufacturing division, as sales jumped 34% over the prior year and operating income grew to $4.9 m, a 44% increase over prior year.”Deepak Chopra, OSI Systems’ Chairman and CEO, stated, “We had an exceptional first quarter of bookings leading to a record backlog of $413m at quarter-end, which positions the Company well for continued outstanding sales and earnings growth. Our strong first quarter sales led to solid earnings growth.”

The Company reported revenues of $161.3m for the first quarter of fiscal
2012, an increase of $32.8m, or 26%, from the $128.5m reported for the first quarter of fiscal 2011. Net income for the first quarter of fiscal
2012 was $4.8m, or $0.24 per diluted share, compared to net income of
$3.4m, or $0.18 per diluted share, for the first quarter of fiscal 2011.
As of September 30, 2011, the Company’s backlog was $413m compared to
$304m as of June 30, 2011, an increase of 36%. During the three months
ended September 30, 2011, the Company generated cash flow from operations of $10m.

Newport Corporation

26 Oct 11. Newport Corporation (NASDAQ:NEWP – News) reported financial results for its third quarter and nine months ended October 1, 2011. The company noted the following highlights regarding its third quarter results: $125.6m in net sales; $118.6m in new orders;

Net income of $10.5m, or $0.27 per diluted share, when calculated according to ge

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