the Mercury your update. open Good will guidance, fiscal up We up of in the 'XX. stronger quarter for were QX, resulting the Bookings then Mike. substantial us. substantially remain the for was the leading the bookings we'll and begin achieving in book-to-bill. half, what solid in for confident it And for results financials in year. growth delivered even review joining second we thanks everyone. low watermark questions. business believe second I'll the to Mike afternoon, Thanks, and from with X.XX
a result, As levels to normal 'XX planned. margin return of expansion. in our as 'XX fiscal we This overall growth and expect to lead positioned well exit should strong to performance fiscal a for
for 'XX of at at plan, XMPACT the providing Looking foundation next our is in further X-year our value the phase fiscal ahead we creation program launched scale. greater
to deliver expect and high over organic We expansion M&A. double-digit low margin time, growth single-digit coupled with revenue to
defense at and Our of long-term well. intersection model the has the sitting industry positioned Mercury exceptionally high-tech
are of Our open X. revenue systems strategy pure and serving in growth mission the challenging microelectronics for trusted business. as up the investments was the engines conditions. anticipated year-over-year, on industry reflecting Turn Slide Total X% the QX to in processing, and numbers
were Our MH-XX, Autumn and classified [ph] program, revenue the CDS, PX, in F-XX. quarter programs largest a CX
adjusted supply activity, business QX with guidance. line half new of strong. EPS we've 'XX, than designs value fiscal our estimated for see but in of chain and and value. wins than continue $XXX from was with to QX Adjusted XX more QX EBITDA lifetime more lifetime improved negative an challenges. in slightly were Free remains flow of first million million. to cash due our the new in We estimated high Through won levels Design totaled pipeline $XXX
to X. Turning Slide
recent forecast revenue a headwinds, Avalex This more the upside we from by acquisitions. For the slightly offset fiscal company total continue growth, conservative for organic for potential expect industry Micro 'XX, $X time. outlook revenue to grow approximately the to billion exceeding XX%, reflects and first Atlanta reflecting
to expecting half EBITDA. clear see still have industry we're effects fiscal the Mercury of impact began now back from related COVID 'XX. line, deliver bottom overall. as well the challenges the recent up in CR the and caught extended most the to the to record program these season that as It's of adjusted On earnings
a seen Over in we a as by impact forecast substantial the the progress past actual a believe And the the QX. QX taken CR, of in Mercury It's of X outlook we peers and quarters, to substantial the customers. the versus filter many expect defense challenges and early for In on. essence, for even indicator in second year these through industry. whole. bookings leading we've we as guidance stronger challenges are changes and results anticipated industry our saw Despite these and that experienced quarter
to the CR passes We if around Appropriations Defense issues expect a rectified Congress be in March, the Bill.
demand. and price mitigate and motivate XX% to last as risks orders fully risks. in get with are vaccinated call our our with for clearly we Currently, material assist discussed risks educate, for been operational to team November, further largely respect an to is quarter, minimal employees employees as our accelerated procurement to we've working supply in of to chain disruption. to These results efforts either have successful pandemic. meet our suppliers our materials, unvaccinated As worked as placed decommits related mitigate or Since have supply inflation. exemption. components second well And financial the become good risk, closely well U.S. and those customers to longer times and as elevated semiconductor We've received We lead the date. half last with are to
of we doing continue pandemic from operational throughout While it's and the see COVID possible and QX, expect impact could to all we so. open in our facilities kept an
While emerging two there is other risks.
we second, need and we have the our objectives. days; to people order qualified FMS ensuring possible First, support growth
choice, labor seen a Mercury with we're On the while of latter, currently continues to contending be challenging destination markets. employer as
influence evaluate talent. top attracting continue at initiatives to We aimed and
be years. decision reports knew We months began over next the The the to needed and operate of transforming that differently potential creation not do of through Turning our to our scale. who thereafter. foundation to and Mercury's we to M&A the is X. Huber, challenges launched ago leadership that scale to in growth to program is was the full XX program we shortly value to XMPACT industry course we business greater the clear, our Slide we phase led today. things of proactively at about me. adjusted to EBITDA Impact XMPACT at XXXX, organically XMPACT serves directly In on Thomas because XMPACT achieve To X by the are team what April next our and lay began related
organic meet million than expected. enabling as business by fiscal improving a fiscal and 'XX. related the aimed investments we've past. adjusted opportunities. million EBITDA continue done actions align targets would as upside This above on our growth our of priorities We fundamentals is in quicker track the $XX customers' us in us that taken with of of incremental to the million better net to larger on It's partner with in XMPACT them to to includes $XX our We're opportunities allow expect originally with $XX benefit at XMPACT targets generate to excess XMPACT well over and our what to and our deliver 'XX. to to value
we share to result, over grow industry to than expect faster take and time. the continue As a
the in We're through third, significant The R&D our our efficiency well asset organic In investment sheet systems. research and industry efficiency Mercury's current on investment and returns. second, growth investment supply scalability; area XMPACT Tied multiyear addition this areas: industry efficiency, and optimization; and to fifth a our average a to potential pillar resulted scalable margins. five above of expand strategy. optimizing see the four, procurement first, headwinds, capital is and chain; substantial over and improving to focusing development is processes and our we in by period. growth balance organizational major common facilities
industry Our where in strong can at headed. of a has is with all scale that be model to proven defense high-tech also line investment successfully Mercury part is operate commitment stakeholders. R&D and the
to acquired a FY XX fiscal grow from business through them businesses, Mercury shared brand to moving also facilities. a and M&A, while completed We 'XX. total forward. 'XX, about deploying XX 'XX common values. as leveraging integrate scale platforms times We company also consolidating it's and dramatically as culture Impact well going Since engineering under transformed go-to-market integrated revenue and entities result ability As the by well CRM growing proven of as is acquisitions, capital. these billion and the it collaboration systems unified at to the we've greater FY fully scaled our HRIS X.X and and with $X.X as these acquired force but We've as single strategy ERP, relates common sales businesses
revenues. adjusted to We substantial fiscal X substantial or of shareholders. growth X synergies, twice over has intend extracted for these methodology leading apply M&A. than EBITDA creation revenue actions, past As impact cost resulted a This growing in result the in to to years, future times and the we've more the value
In believe us addition value Combined increased increase effect we transactions. compounding deal cadence have our size we increasing create XMPACT of allow potentially also with creation. accelerating and and could that synergies our a on deploying to the value could to the generated, the this
acquisitions XX of For comprise business. X now example, mission our our
value Here, part efforts we're as capture integration, combining XMPACT. growth and our of
X. Slide to Turning
Technologies quarter, Micro We Atlanta continued acquisitions in the in our M&A closing and Avalex the momentum November.
deployment RF Pentek, XXXX. well It mission Micro communications and This $XXX It deployed computing we by domain. innovative, integrations integrated history, need programs also the Atlanta Mercury's businesses. prime displays, industry largest avionics positions open our marks progressing we aligns as touchpoints and in which excited the fits December year. to systems acquired well are margin last effectively compete Both the mission As M&A microelectronics million a an It in more the signal about since have are business. future. high with acquisitions. XX-month semiconductor and delayering. our now all the capital with of mission result, Avalex's and POC with well integrations management us capital trusted for of driven is mixed we're in for
the and continues to be relates to pipeline it future M&A As environment our strong. is active transactions,
for to and of our pursuits, for with the enviable synergies, our pricing able diligence, remain disciplined of on in-house down the been revenue record we've recognition balance proven M&A built result. we acquisitions, will M&A acquiring can as multiples strength so terms We through integrating of track and value substantial past the Coupled successful years. the to the been strategy and integration cost acquisitions. a shareholders paid believe has over in capability deal Through an sheet, creating Mercury average that's we've of we of significant integration. us a execute has our both and continue our X
Slide X. to Turning
faster expected and next overall continue us is years microelectronics microelectronics to well looking delayering driver. the from in for to than market. chain benefit larger of We ongoing We revenue have customers. and Systems organic spending Mercury's has also growing continues than than trusted believe the will with And growth over CXI. speed aligned we driver effects have a our X 'XX. program The the no programs. the secure strategy, of trusted the And defense here believe of of to supply at eye acquired affordability being ahead as modernization, The Central secure the mission various significant subsystem an secular Corporation. towards highly microelectronics margin the Mercury's differentiated growing expect both with on taken more expanding radiation fiscal time and and has developed we We're as from in designed parts produced rate as far industry. content move us has grow government revenue. capabilities trusted No been core defense Strategy. business total program revenue National push remain with with open the faster Microsemi Needs margins, business top the several be focused genesis allowed low-risk single it of our the company to We different space growth The and highest and that was to XXX in Defense was subsystems participate as of processing, XXXX, the over tolerant are our more devices growing. the increased for as in at domestically. to years, last excess well of our This outsourcing in Mission strategy. and X% assets favorable. These our total We sole-sourced longer-term growth create planned. for continue to of more the reshoring Back the capabilities total systems which company organically majority actions our of level part by we being trends than X% focus to expansion single been applications, now well our on programs represent now positions. in
over We expect microelectronics continue growth time. strategy to driving our in expansion trusted
trust like Mercury on leading has traditional to customers what the vision devices are Our to partner been our is looking commercial with companies They're systems seeking. and provider and of suppliers. buy less more secure
As offerings, low-risk business. this our and engagements, competitive We which parties. strategy vision, a not combined expansion content more both with with customers' strategic in result, drive to continue believe are larger are growth our becoming our will the organic for
were During Argon, the X programs classified a second program, programs classified and quarter, CPS. our largest management bookings EW
related that are this in efforts of development half, for a growth in as a fiscal the As the I've to we did backlog whole. for book-to-bill updates in the leading a on suggests F-XX bookings accelerated half. said, second we strong is we TRX as the as second in doing and believe expecting and 'XX, anticipate improvement 'XX integration to and our growth positive bookings. the whole We much Year-to-date, mirrored F-XX the we're better. booked Recent fiscal
addition bookings be booking our including to classified trusted expecting expect In and TXX. we We're F-XX, LTAMDS, F-XX, continue PX program. also microelectronics programs, CWIP, to by significant a [indiscernible] F-XX, the a to related to led
we for Ghost to fiscal expect It's to our now delayed moved to we year. larger of of previously the Ghost the an unobligated Based relates on may with customer, activities. F-XX, last to from response this a booking 'XX substantially our is for win history production company's which order our call change last to international customer since recent program Like moved possible was the date. Eye the related LTAMDS, design have Eye addition, In single to that In funds and The fiscal program. in called Ghost next second largest is Eye. receive fiscal FMS domestic fiscal to 'XX. the input, preproduction important have 'XX exception QX in the our
to fiscal in expect We beginning 'XX. growth significant a be of it driver
combat well over naval fiscal Looking and the Buzzard, airborne key F-XX to specifically fewer anticipate upgrades that, to Mike. other Filthy and upgrade, such our again. among 'XX, subsurface seeing the We programs as programs. as CWIP, classified like F-XX, at as delays them a call With programs top system we turn yet bookings continued I'd T-XX Mike? to expect from XX in ramp