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Last Call: Mercury Computer Systems shares soar

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April 28, 2008

NEW YORK—Shares of Mercury Computer Systems Inc., which makes computers and software for the military and other sectors, soared Monday as an analyst raised his estimates following a strong third-quarter report.

William Blair & Co. analyst Jeff Rosenberg said that the company was showing "aggressive growth" with strong earnings-per-share growth, based primarily on stronger-than-expected revenue growth.

The company showed improved potential for a turnaround, Rosenberg said, noting that it has shed several noncore businesses and reduced overall cost and part of a restructuring program.

Rosenberg noted that the company's quarterly earnings beat his estimates by 6 cents per share, and raised its fiscal 2008 earnings guidance. The analyst lifted his fiscal 2008 earnings estimate to 15 cents per share.

Mercury shares rose $1.54, or 21.3 percent, to $8.78 shortly before the closing bell. They have traded in the last year between $4.37 and $16.50.

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