Mercury Systems reports increased sales, profit

Mercury Systems said Tuesday sales in its most recent quarter reached $208 million, up 19% from the same three-month period a year earlier.

The company said about half of the sales increase was attributable to its recent acquisitions.

Mercury said quarterly profit totaled $24 million, up about 67% from the prior year.

In a call with analysts Tuesday, Mark Aslett, Mercury's chief executive, said the company is not changing its guidance in the wake of the coronavirus crisis.

"The coronavirus has not diminished the threat environment, and our nation's defense priorities have not changed," he said, adding that he doesn't expect the outbreak to have a "near-term material impact on defense spending."

However, he said the crisis has had "some impact" as the company saw some delays in order approvals.

"We've seen these issues improve somewhat as everyone has become more attuned to working remotely," Aslett said.