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Why Mercury Systems Stock Is Tumbling Today

Why Mercury Systems Stock Is Tumbling Today

Defense electronics specialist Mercury Systems (NASDAQ: MRCY) delivered top- and bottom-line beats in its most recent quarter, but in the report it delivered after the close of trading Tuesday, management lowered its full-year projections. The company plays an important role in the defense industry ecosystem, but has to manage a complex supply chain, and its order volumes can vary based on the production plans of its larger customers. In its fiscal third quarter, which ended March 31, Mercury earned $0.40 per share on revenue of $263.5 million, beating Wall Street's consensus expectations for $0.37 per share in earnings on sales of $254 million.