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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Mar. 31, 2018	Apr. 30, 2018
Document Documentand Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q3
Trading Symbol	MRCY
Entity Registrant Name	MERCURY SYSTEMS INC
Entity Central Index Key	0001049521
Current Fiscal Year End Date	--06-30
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		48,190,006

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2018	Jun. 30, 2017
Current assets:
Cash and cash equivalents	$ 44,217	$ 41,637
Accounts receivable, net of allowance for doubtful accounts of $52 and $83 at March 31, 2018 and June 30, 2017, respectively	101,400	76,341
Unbilled receivables and costs in excess of billings	40,177	37,332
Inventory	117,075	81,071
Prepaid income taxes	2,487	1,434
Prepaid expenses and other current assets	7,802	8,381
Total current assets	313,158	246,196
Property and equipment, net	51,291	51,643
Estimated fair value of goodwill	499,292	380,846
Intangible assets, net	186,391	129,037
Other non-current assets	6,814	8,023
Total assets	1,056,946	815,745
Current liabilities:
Accounts payable	32,857	27,485
Accrued expenses	16,655	20,594
Accrued compensation	20,288	18,406
Deferred revenues and customer advances	9,537	6,360
Total current liabilities	79,337	72,845
Deferred income taxes	14,161	4,856
Income taxes payable	855	855
Long-term debt	195,000	0
Other non-current liabilities	11,797	11,772
Total liabilities	301,150	90,328
Commitments and contingencies (Note M)
Shareholders' equity:
Preferred stock, $0.01 par value; 1,000,000 shares authorized; no shares issued or outstanding	0	0
Common stock, $0.01 par value; 85,000,000 shares authorized; 46,840,575 and 46,303,075 shares issued and outstanding at March 31, 2018 and June 30, 2017, respectively	468	463
Additional paid-in capital	584,855	584,795
Retained earnings	169,867	139,085
Accumulated other comprehensive income	606	1,074
Total shareholders' equity	755,796	725,417
Total liabilities and shareholders' equity	$ 1,056,946	$ 815,745

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2018	Jun. 30, 2017
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 52	$ 83
Preferred stock, par value (usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (shares)	1,000,000	1,000,000
Preferred stock, shares issued (shares)	0	0
Preferred stock, shares outstanding (shares)	0	0
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (shares)	85,000,000	85,000,000
Common Stock, Shares, Issued (shares)	46,840,575	46,303,075
Common stock, shares outstanding (shares)	46,840,575	46,303,075

Consolidated Statements of Operations and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
Net revenues	$ 116,336	$ 107,317	$ 340,317	$ 292,980
Cost of revenues	63,570	56,534	182,717	155,364
Gross margin	52,766	50,783	157,600	137,616
Operating expenses:
Selling, general and administrative	21,138	19,229	62,928	56,093
Research and development	15,021	14,198	43,950	40,192
Amortization of intangible assets	7,104	4,732	18,568	14,222
Restructuring and other charges	1,384	459	1,792	825
Acquisition costs and other related expenses	1,281	470	2,265	1,889
Total operating expenses	45,928	39,088	129,503	113,221
Income from operations	6,838	11,695	28,097	24,395
Interest income	0	137	14	187
Interest expense	(999)	(1,893)	(1,101)	(5,613)
Other income, net	66	279	(1,065)	792
Income before income taxes	5,905	10,218	25,945	19,761
Tax provision (benefit)	2,209	3,170	(4,837)	3,690
Net income	$ 3,696	$ 7,048	$ 30,782	$ 16,071
Basic net earnings per share (in dollars per share)	$ 0.08	$ 0.16	$ 0.66	$ 0.40
Diluted net earnings per share (in dollars per share)	$ 0.08	$ 0.16	$ 0.65	$ 0.39
Weighted-average shares outstanding:
Basic (in shares)	46,844	43,773	46,685	40,573
Diluted (in shares)	47,532	44,814	47,473	41,530
Comprehensive income:
Net income	$ 3,696	$ 7,048	$ 30,782	$ 16,071
Foreign currency translation adjustments	(457)	133	(513)	(200)
Pension benefit plan, net of tax	5	0	45	0
Total other comprehensive income, net of tax	(452)	133	(468)	(200)
Total comprehensive income	$ 3,244	$ 7,181	$ 30,314	$ 15,871

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities:
Net income	$ 30,782	$ 16,071
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	30,320	23,139
Stock-based compensation expense	13,045	11,440
Benefit for deferred income taxes	(5,482)	(5,618)
Non-cash interest expense	0	1,362
Other non-cash items	1,243	(628)
Changes in operating assets and liabilities, net of effects of businesses acquired:
Accounts receivable, unbilled receivable, and cost in excess of billings	(19,827)	2,011
Inventory	(24,931)	(6,615)
Prepaid income taxes	(1,060)	1,913
Prepaid expenses and other current assets	944	(1,134)
Other non-current assets	277	(116)
Accounts payable and accrued expenses	2,943	(566)
Deferred revenues and customer advances	2,758	(777)
Income taxes payable	(11,286)	4,443
Other non-current liabilities	(2,046)	4,485
Net cash provided by operating activities	17,680	49,410
Cash flows from investing activities:
Acquisition of business, net of cash acquired	(185,396)	(36,911)
Purchases of property and equipment	(11,067)	(26,789)
Other investing activities	(375)	(486)
Net cash used in investing activities	(196,838)	(64,186)
Cash flows from financing activities:
Proceeds from employee stock plans	2,049	2,903
Payments for retirement of common stock	(15,118)	(7,682)
Payments under credit facilities	(15,000)	(7,500)
Borrowings under credit facilities	210,000	0
Proceeds from equity offering, net	0	215,732
Net cash provided by financing activities	181,931	203,453
Effect of exchange rate changes on cash and cash equivalents	(193)	(130)
Net increase in cash and cash equivalents	2,580	188,547
Cash and cash equivalents at beginning of period	41,637	81,691
Cash and cash equivalents at end of period	44,217	270,238
Cash paid during the period for:
Interest	1,101	4,251
Income taxes	$ 9,928	$ 2,731

Description of Business	9 Months Ended
Description of Business	Mar. 31, 2018
Accounting Policies [Abstract]
Description of Business	Description of Business Mercury Systems, Inc. (the “Company” or “Mercury”) is a leading commercial provider of secure sensor and safety critical mission processing subsystems. Optimized for customer and mission success, its solutions power a wide variety of critical defense and intelligence programs. Headquartered in Andover, Massachusetts, it is pioneering a next-generation defense electronics business model specifically designed to meet the industry's current and emerging technology and business needs. The Company delivers affordable innovative solutions, rapid time-to-value and service and support primarily to defense prime contractor customers. The Company's products and solutions have been deployed in more than 300 programs with over 25 different defense prime contractors. Key programs include Aegis, Patriot, Surface Electronic Warfare Improvement Program ("SEWIP"), Gorgon Stare, Predator, F-16 SABR, F-35, E2D Hawkeye, Reaper and Paveway. The Company's organizational structure allows it to deliver capabilities that combine technology building blocks and deep domain expertise in the aerospace and defense sector.

Summary of Significant Accounting Policies

9 Months Ended

Mar. 31, 2018

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

BASIS OF PRESENTATION

The accompanying consolidated financial statements have been prepared by the Company in accordance with Generally Accepted Accounting Principles ("GAAP") in the United States of America for interim financial information and with the instructions to the Form 10-Q and Article 10 of Regulation S-X. Certain information and footnote disclosures normally included in annual consolidated financial statements have been condensed or omitted pursuant to those rules and regulations; however, in the opinion of management the financial information reflects all adjustments, consisting of adjustments of a normal recurring nature, necessary for fair presentation. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes for the fiscal year ended June 30, 2017 which are contained in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on August 18, 2017. The results for the three and nine months ended March 31, 2018 are not necessarily indicative of the results to be expected for the full fiscal year.

The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation.

USE OF ESTIMATES

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.

BUSINESS COMBINATIONS

The Company utilizes the acquisition method of accounting under FASB ASC 805, Business Combinations, (“FASB ASC 805”), for all transactions and events which it obtains control over one or more other businesses, to recognize the fair value of all assets and liabilities acquired, even if less than one hundred percent ownership is acquired, and in establishing the acquisition date fair value as the measurement date for all assets and liabilities assumed. The Company also utilizes FASB ASC 805 for the initial recognition and measurement, subsequent measurement and accounting, and disclosure of assets and liabilities arising from contingencies in business combinations.

FOREIGN CURRENCY

Local currencies are the functional currency for the Company’s subsidiaries in Switzerland, United Kingdom, France, Japan and Canada. The accounts of foreign subsidiaries are translated using exchange rates in effect at period-end for assets and liabilities and at average exchange rates during the period for results of operations. The related translation adjustments are reported in accumulated other comprehensive income in shareholders’ equity. Gains (losses) resulting from non-U.S. currency transactions are included in other income (expense), net in the Consolidated Statements of Operations and Comprehensive Income and were immaterial for all periods presented.

ACCOUNTS RECEIVABLE FACTORING

On December 21, 2017, the Company executed a Master Receivables Purchase Agreement (the “Purchase Agreement”) with Bank of America, N.A. (the “Bank”) for the sale of certain eligible accounts receivable balances of the Company, up to a maximum of $30,000. Factoring under the Purchase Agreement is treated as a true sale of accounts receivable by the Company. The Company has a continued involvement in servicing accounts receivable under the Purchase Agreement, but has no retained interests related to the factored accounts receivable.

Proceeds from amounts factored by the Company are recorded as an increase to cash and a reduction to accounts receivable outstanding in the consolidated balance sheets. Cash flows attributable to factoring are reflected as cash flows from operating activities in the Company’s consolidated statements of cash flows. Factoring fees are included as selling, general, and administrative expenses in the Company’s consolidated statements of operations and comprehensive income.

The Company factored accounts receivable and incurred factoring fees of $18,821 and $69, respectively, for the nine months ended March 31, 2018. The Company did not factor any accounts receivable or incur any factoring fees for the three months ended March 31, 2018.

REVENUE RECOGNITION

The Company recognizes revenue using three different types of accounting methods: ship and bill, multiple-deliverable arrangements and contract accounting which encompass the percentage of completion, completed contract and time and materials methods. The Company relies upon FASB ASC 605, Revenue Recognition, to account for its revenue transactions. Revenue is recognized upon shipment provided that title and risk of loss have passed to the customer, there is persuasive evidence of an arrangement, the sales price is fixed or determinable, collection of the related receivable is reasonably assured, and customer acceptance criteria, if any, have been successfully demonstrated. Out-of-pocket expenses that are reimbursable by the customer are included in revenue and cost of revenue.

Certain contracts with customers require the Company to perform tests of its products prior to shipment to ensure their performance complies with the Company’s published product specifications and, on occasion, with additional customer-requested specifications. In these cases, the Company conducts such tests and, if they are completed successfully, includes a written confirmation with each order shipped. As a result, at the time of each product shipment, the Company believes that no further customer testing requirements exist and that there is no uncertainty of acceptance by its customer.

Total revenue recognized under ship and bill revenue arrangements was 47% and 43% of total revenue in the three and nine months ended March 31, 2018, respectively. Total revenue recognized under ship and bill revenue arrangements was 43% and 45% of total revenues in the three and nine months ended March 31, 2017, respectively.

The Company uses FASB Accounting Standards Update ("ASU") No. 2009-13 (“FASB ASU 2009-13”), Multiple-Deliverable Revenue Arrangements. FASB ASU 2009-13 establishes a selling price hierarchy for determining the selling price of a deliverable, which includes: (1) vendor-specific objective evidence (“VSOE”) if available; (2) third-party evidence (“TPE”) if VSOE is not available; and (3) best estimated selling price (“BESP”), if neither VSOE nor TPE is available. Additionally, FASB ASU 2009-13 expands the disclosure requirements related to a vendor’s multiple-deliverable revenue arrangements.

The Company enters into multiple-deliverable arrangements that may include a combination of hardware components, related integration or other services. These arrangements generally do not include any performance-, cancellation-, termination- or refund-type provisions. Total revenue recognized under multiple-deliverable revenue arrangements was 30% and 35% of total revenue in the three and nine months ended March 31, 2018, respectively. Total revenue recognized under multiple-deliverable revenue arrangements was 37% and 32% of total revenues in the three and nine months ended March 31, 2017, respectively.

In accordance with the provisions of FASB ASU 2009-13, the Company allocates arrangement consideration to each deliverable in an arrangement based on its relative selling price. The Company generally expects that it will not be able to establish VSOE or TPE due to limited single element transactions and the nature of the markets in which the Company competes, and, as such, the Company typically determines its relative selling price using BESP. The objective of BESP is to determine the price at which the Company would transact if the product or service were sold by the Company on a standalone basis.

The Company's determination of BESP involves the consideration of several factors based on the specific facts and circumstances of each arrangement. Specifically, the Company considers the cost to produce the deliverable, the anticipated margin on that deliverable, the selling price and profit margin for similar parts, the Company’s ongoing pricing strategy and policies (as evident from the price list established and updated by management on a regular basis), the value of any enhancements that have been built into the deliverable and the characteristics of the varying markets in which the deliverable is sold.

The Company analyzes the selling prices used in its allocation of arrangement consideration at a minimum on an annual basis. Selling prices will be analyzed on a more frequent basis if a significant change in the Company’s business necessitates a more timely analysis or if the Company experiences significant variances in its selling prices.

Each deliverable within the Company’s multiple-deliverable revenue arrangements is accounted for as a separate unit of accounting under the guidance of FASB ASU 2009-13 if both of the following criteria are met: the delivered item or items have value to the customer on a standalone basis; and for an arrangement that includes a general right of return relative to the delivered item(s), delivery or performance of the undelivered item(s) is considered probable and substantially in the control of the Company. The Company's revenue arrangements generally do not include a general right of return relative to delivered products. The Company considers a deliverable to have standalone value if the item is sold separately by the Company or another vendor or if the item could be resold by the customer.

Deliverables not meeting the criteria for being a separate unit of accounting are combined with a deliverable that does meet that criterion. The appropriate allocation of arrangement consideration and recognition of revenue is then determined for the combined unit of accounting.

The Company also engages in long-term contracts for development, production and services activities which it accounts for consistent with FASB ASC 605-35, Accounting for Performance of Construction-Type and Certain Production-Type Contracts, and other relevant revenue recognition accounting literature. The Company considers the nature of these contracts and the types of products and services provided when determining the proper accounting for a particular contract. Generally for fixed-price contracts, other than service-type contracts, revenue is recognized primarily under the percentage of completion method or, for certain short-term contracts, by the completed contract method. Revenue from service-type fixed-price contracts is recognized ratably over the contract period or by other appropriate input or output methods to measure service provided, and contract costs are expensed as incurred. The Company establishes billing terms at the time project deliverables and milestones are agreed. The risk to the Company on a fixed-price contract is that if estimates to complete the contract change from one period to the next, profit levels will vary from period to period. For time and materials contracts, revenue reflects the number of direct labor hours expended in the performance of a contract multiplied by the contract billing rate, as well as reimbursement of other billable direct costs. For all types of contracts, the Company recognizes anticipated contract losses as soon as they become known and estimable.

The Company also considers whether contracts should be combined or segmented in accordance with the applicable criteria under GAAP, and combines closely related contracts when all the applicable criteria under GAAP are met. The combination of two or more contracts requires judgment in determining whether the intent of entering into the contracts was effectively to enter into a single project, which should be combined to reflect an overall profit rate. Similarly, the Company may separate a project, which may consist of a single contract or group of contracts, with varying rates of profitability, only if the applicable criteria under GAAP are met. Judgment also is involved in determining whether a single contract or group of contracts may be segmented based on how the arrangement was negotiated and the performance criteria. The decision to combine a group of contracts or segment a contract could change the amount of revenue and gross profit recorded in a given period.

The use of contract accounting requires significant judgment relative to estimating total contract revenues and costs, including assumptions relative to the length of time to complete the contract, the nature and complexity of the work to be performed, anticipated increases in wages and prices for subcontractor services and materials, and the availability of subcontractor services and materials. The Company’s estimates are based upon the professional knowledge and experience of its engineers, program managers and other personnel, who review each long-term contract monthly to assess the contract’s schedule, performance, technical matters and estimated cost at completion. Changes in estimates are applied retrospectively and when adjustments in estimated contract costs are identified in the ordinary course of business, such revisions may result in current period adjustments to earnings applicable to performance in prior periods.

Contract costs also may include estimated contract recoveries for matters such as contract changes and claims for unanticipated contract costs. The Company records revenue associated with these matters only when the amount of recovery can be estimated reliably and realization is probable.

Total revenue recognized under contract accounting revenue arrangements was 23% and 22% of total revenue in the three and nine months ended March 31, 2018, respectively. Total revenue recognized under contract accounting revenue arrangements was 20% and 23% of total revenues in the three and nine months ended March 31, 2017, respectively.

The Company defines service revenues as revenue from activities that are not associated with the design, development, production, or delivery of tangible assets, software or specific capabilities sold. Examples of the Company's service revenues include: analyst services and systems engineering support, consulting, maintenance and other support, testing and installation. The Company combines its product and service revenues into a single class as service revenues are less than 10 percent of total revenues.

The Company does not provide its customers with rights of product return, other than those related to warranty provisions that permit repair or replacement of defective goods. The Company accrues for anticipated warranty costs upon product shipment. Revenues from product royalties are recognized upon invoice by the Company. Additionally, all revenues are reported net of government assessed taxes (e.g., sales taxes or value-added taxes).

WEIGHTED-AVERAGE SHARES

Weighted-average shares were calculated as follows:



	Three Months Ended March 31,		Nine Months Ended March 31,
	2018	2017	2018	2017
Basic weighted-average shares outstanding	46,844	43,773	46,685	40,573
Effect of dilutive equity instruments	688	1,041	788	957
Diluted weighted-average shares outstanding	47,532	44,814	47,473	41,530

Equity instruments to purchase 33 and 302 shares of common stock were not included in the calculation of diluted net earnings per share for the three and nine months ended March 31, 2018, respectively, because the equity instruments were anti-dilutive. Equity instruments to purchase 9 and 13 shares of common stock were not included in the calculation of diluted net earnings per share for the three and nine months ended March 31, 2017, respectively, because the equity instruments were anti-dilutive.

Acquisitions

9 Months Ended

Mar. 31, 2018

Business Combinations [Abstract]

Acquisitions

THEMIS COMPUTER AQUISITION

On December 21, 2017, the Company and Thunderbird Merger Sub, Inc., a newly formed, wholly-owned subsidiary of the Company (the “Merger Sub”), entered into a Merger Agreement (the “Merger Agreement”) with Ceres Systems (“Ceres”), the holding company that owned Themis Computer (“Themis”, and together with Ceres, collectively the “Acquired Company”). On February 1, 2018, the Company closed the transaction and the Merger Sub merged with and into Ceres with Ceres continuing as the surviving company and a wholly-owned subsidiary of Mercury (the “Merger”). By operation of the Merger, the Company acquired both Ceres and its wholly-owned subsidiary, Themis.

Based in Fremont, California, Themis is a leading designer, manufacturer and integrator of commercial, SWaP-optimized rugged servers, computers and storage systems for U.S. and international markets. Under the terms of the Merger Agreement, the merger consideration (including payments with respect to outstanding stock options) consisted of an all cash purchase price of approximately $180,000. The merger consideration is subject to post-closing adjustments based on a determination of closing net working capital, transaction expenses and net debt (all as defined in the Merger Agreement). The Company funded the acquisition with borrowings obtained under its existing revolving credit facility.

The following table presents the net purchase price and the fair values of the assets and liabilities of the Acquired Company on a preliminary basis:



	Amounts
Consideration transferred
Cash paid at closing	$	187,089
Working capital and net debt adjustment	(574		)
Less cash acquired	(6,810		)
Net purchase price	$	179,705

Estimated fair value of tangible assets acquired and liabilities assumed
Cash	$	6,810
Accounts receivable	7,713
Inventory	6,742
Fixed assets	479
Other current and non-current assets	2,896
Accounts payable	(3,287		)
Accrued expenses	(6,267		)
Other current and non-current liabilities	(1,180		)
Deferred tax liability	(14,778		)
Estimated fair value of net tangible assets acquired	(872		)
Estimated fair value of identifiable intangible assets	72,870
Estimated goodwill	114,517
Estimated fair value of net assets acquired	186,515
Less cash acquired	(6,810		)
Net purchase price	$	179,705

The amounts above represent the preliminary fair value estimates as of March 31, 2018 and are subject to subsequent adjustment as the Company obtains additional information during the measurement period and finalizes its fair value estimates. The preliminary identifiable intangible asset estimates include customer relationships of $53,420 with a useful life of 12.5 years, developed technology of $17,150 with a useful life of 9.5 years and backlog of $2,300 with a useful life of 1 year. Any subsequent adjustments to these fair value estimates occurring during the measurement period will result in an adjustment to goodwill.

The goodwill of $114,517 largely reflects the potential synergies and expansion of the Company's offerings across product lines and markets complementary to the Company's existing products and markets. The goodwill from this acquisition is reported under the Mercury Defense Systems ("MDS") reporting unit and is not tax deductible.

The revenues and income before income taxes from Themis included in the Company's consolidated results for the three months ended March 31, 2018 were $9,501 and $267, respectively.

Pro Forma Financial Information

The following table summarizes the supplemental statements of operations information on an unaudited pro forma basis, excluding the pro forma impact of the Richland ("RTL"), Delta Microwave, LLC ("Delta") and CES Creative Electronic Systems, S.A. (“CES”), as if the Merger had occurred on July 1, 2016. The Company has not furnished pro forma financial information relating to RTL, Delta and CES because such information is not material to the Company's financial results.



	Three months Ended March 31,				Nine months Ended March 31,
	2018		2017		2018		2017
Pro forma net revenues	$	122,176	$	118,826	$	377,473	$	325,367
Pro forma net income	$	1,191	$	6,573	$	26,811	$	3,069
Basic pro forma net earnings per share	$	0.03	$	0.15	$	0.57	$	0.08
Diluted pro forma net earnings per share	$	0.03	$	0.15	$	0.56	$	0.07

RICHLAND TECHNOLOGIES ACQUISITION

On July 3, 2017, the Company entered into a membership interest purchase agreement with RTL, pursuant to which, the Company acquired RTL on a cash-free, debt-free basis for a total purchase price of $5,798. RTL specializes in safety-critical and high integrity systems, software and hardware development as well as safety-certification services for mission-critical applications. The acquisition had an immaterial impact to the Company’s results of operations (contributed less than one percent of net revenue for the three and nine months ended March 31, 2018), and accordingly the disclosures required per FASB ASC 805 have been excluded from this Form 10-Q filing. The Company recognized primarily intangible assets including customer relationships, developed technology and goodwill based on its preliminary purchase price allocation.

DELTA ACQUISITION

On April 3, 2017, the Company entered into a membership interest purchase agreement with Delta, pursuant to which the Company acquired Delta on a cash-free, debt-free basis for a total purchase price of $40,500, subject to net working capital and net debt adjustments. Delta is a designer and manufacturer of high-value RF, microwave and millimeter wave sub-assemblies and components for the military, aerospace and space markets. The acquisition and transaction related expenses were funded with cash on hand.

The following table presents the net purchase price and the fair values of the assets and liabilities of Delta:



	Amounts
Consideration transferred
Cash paid at closing	$	40,500
Net purchase price	$	40,500

Fair value of tangible assets acquired and liabilities assumed
Accounts receivable and cost in excess of billings	$	957
Inventory	4,452
Fixed assets	1,918
Other current and non-current assets	77
Current liabilities	(2,055		)
Fair value of net tangible assets acquired	5,349
Fair value of identifiable intangible assets	17,000
Goodwill	18,151
Fair value of net assets acquired	40,500
Net purchase price	$	40,500

On April 2, 2018, the measurement period for Delta expired. The identifiable intangible assets include customer relationships of $8,000 with a useful life of 9 years, developed technology of $5,900 with a useful life of 7 years and backlog of $3,100 with a useful life of 2 years.

The goodwill of $18,151 largely reflects the potential synergies and expansion of the Company's offerings across product lines and markets complementary to the Company's existing products and markets. The Delta acquisition expands the scale and breadth of the Company’s RF, microwave and millimeter wave capabilities, provides a highly complementary program portfolio in missiles and munitions, deepens market penetration in core radar, electronic warfare ("EW"), and precision-guided munitions markets, and opens new growth opportunities in space launch, GPS, satellite communications and datalinks. The goodwill from this acquisition is reported under the Advanced Microelectronic Solutions (“AMS”) reporting unit.

Since Delta was a limited liability company, the acquisition is treated as an asset purchase for tax purposes. As of March 31, 2018, the Company had $17,298 of goodwill deductible for tax purposes. The Company has not furnished pro forma financial information relating to Delta because such information is not material to the Company's financial results.

CES AQUISITION

On November 4, 2016, the Company and the shareholders of CES entered into a Stock Purchase Agreement pursuant to which Mercury acquired CES for a total purchase price of $39,123, subject to net working capital and net debt adjustments. The acquisition and associated transaction expenses were funded with cash on hand. Based in Geneva, Switzerland, CES is a leading provider of embedded solutions for military and aerospace mission-critical computing applications. CES specializes in the design, development and manufacture of safety-certifiable product and subsystems solutions including: primary flight control units, flight test computers, mission computers, command and control processors, graphics and video processing and avionics-certified Ethernet and IO. CES has decades of experience designing subsystems deployed in applications certified up to the highest levels of design assurance. CES products and solutions are used on platforms such as aerial refueling tankers and multi-mission aircraft, as well as the several types of unmanned platforms.

The following table presents the net purchase price and the fair values of the assets and liabilities of CES:



	Amounts
Consideration transferred
Cash paid at closing	$	39,123
Working capital adjustment	(330		)
Net purchase price	$	38,793

Fair value of tangible assets acquired and liabilities assumed
Accounts receivable and cost in excess of billings	$	2,698
Inventory	8,950
Fixed assets	1,480
Other current and non-current assets	748
Current liabilities	(3,154		)
Non-current liabilities	(6,140		)
Deferred tax liabilities	(1,148		)
Fair value of net tangible assets acquired	3,434
Fair value of identifiable intangible assets	14,722
Goodwill	20,637
Fair value of net assets acquired	38,793
Net purchase price	$	38,793

On November 3, 2017, the measurement period for CES expired. The identifiable intangible assets include customer relationships of $9,060 with a useful life of 9 years and developed technology of $5,662 with a useful life of 7 years.

The goodwill of $20,637 largely reflects the potential synergies and expansion of the Company's offerings across product lines and markets complementary to the Company's existing products and markets. CES provides the Company with capabilities in mission computing, safety-critical avionics and platform management that are in demand from its customers. These new capabilities will also substantially expand Mercury’s addressable market into commercial aerospace, defense platform management, command, control, communications, computers, and intelligence ("C4I") and mission computing markets that are aligned to Mercury’s existing market focus. The acquisition is directly aligned with the Company's strategy of expanding its capabilities, services and offerings along the sensor processing chain. The goodwill from this acquisition is reported under the Sensor and Mission Processing (“SMP”) reporting unit. The Company has not furnished pro forma financial information relating to CES because such information is not material to the Company's financial results.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1497-128463

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 4
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
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-Section 50
-Paragraph 3
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
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-URI http://asc.fasb.org/extlink&oid=73530397&loc=d3e4845-128472

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
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Reference 15: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Fair Value of Financial Instruments

9 Months Ended

Mar. 31, 2018

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

The following table summarizes the Company’s financial assets measured at fair value on a recurring basis at March 31, 2018:



	Fair Value Measurements
	March 31, 2018		Level 1		Level 2		Level 3
Assets:
Certificates of deposit	$	1,051	$	—	$	1,051	$	—
Total	$	1,051	$	—	$	1,051	$	—

The carrying values of cash and cash equivalents, including money market funds, restricted cash, accounts receivable and payable, and accrued liabilities approximate fair value due to the short-term maturities of these assets and liabilities. The fair value of the Company’s certificates of deposit are determined through quoted prices for identical or similar instruments in markets that are not active or are directly or indirectly observable. The cost-method investment, which is presented within other non-current assets in the accompanying consolidated balance sheets, does not have a readily determinable fair value, as such the Company recorded the investment at cost and will continue to evaluate the asset for impairment on a quarterly basis.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Inventory

9 Months Ended

Mar. 31, 2018

Inventory Disclosure [Abstract]

Inventory

Inventory is stated at the lower of cost (first-in, first-out) or net realizable value, and consists of materials, labor and overhead. On a quarterly basis, the Company uses consistent methodologies to evaluate inventory for net realizable value. Once an item is written down, the value becomes the new inventory cost basis. The Company reduces the value of inventory for excess and obsolete inventory, consisting of on-hand inventory in excess of estimated usage. The excess and obsolete inventory evaluation is based upon assumptions about future demand, history, product mix and possible alternative uses. Inventory was comprised of the following:



	March 31, 2018		June 30, 2017
Raw materials	$	63,290	$	48,645
Work in process	29,910		22,567
Finished goods	23,875		9,859
Total	$	117,075	$	81,071

There are no amounts in inventory relating to contracts having production cycles longer than one year.

Goodwill

9 Months Ended

Mar. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The following table sets forth the changes in the carrying amount of goodwill by reporting unit for the nine months ended March 31, 2018:



	SMP		AMS		MDS		Total
Balance at June 30, 2017	$	116,003	$	217,956	$	46,887	$	380,846
Goodwill adjustment for the CES acquisition	291		—		—		291
Goodwill adjustment for the Delta acquisition	—		191		—		191
Goodwill arising from the RTL acquisition	3,447		—		—		3,447
Goodwill arising from the Themis acquisition	—		—		114,517		114,517
Balance at March 31, 2018	$	119,741	$	218,147	$	161,404	$	499,292

In the nine months ended March 31, 2018, there were no triggering events, as defined by FASB ASC 350, Intangibles - Goodwill and Other, which required an interim goodwill impairment test. The Company performs its annual goodwill impairment test in the fourth quarter of each fiscal year.

Restructuring

9 Months Ended

Mar. 31, 2018

Restructuring and Related Activities [Abstract]

Restructuring

The following table presents the detail of activity for the Company’s restructuring plans:



	Severance & Related			Facilities & Other			Total
Restructuring liability at June 30, 2017	$	1,365		$	—		$	1,365
Restructuring and other charges	1,665			127			1,792
Cash paid	(1,656		)	(127		)	(1,783		)
Restructuring liability at March 31, 2018	$	1,374		$	—		$	1,374

During the nine months ended March 31, 2018, the Company incurred net restructuring and other charges of $1,792. Restructuring and other charges are typically related to acquisitions and organizational redesign programs initiated as part of discrete post-acquisition integration activities.

All of the restructuring and other charges are classified as operating expenses in the consolidated statements of operations and any remaining severance obligations are expected to be paid within the next twelve months. The restructuring liability is classified as accrued expenses in the consolidated balance sheets.

Income Taxes	9 Months Ended
Income Taxes	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes On December 22, 2017, the Tax Cuts and Jobs Act of 2017 (the “Tax Act”) was enacted by the U.S. government. The Tax Act has impacted the U.S. statutory Federal tax rate that the Company will use going forward, which has been reduced to 21% from 35%. As the Company has a June 30 fiscal year-end, the lower corporate income tax rate will be phased in, resulting in a U.S. statutory Federal rate of approximately 28% for the Company's fiscal year ending June 30, 2018, and 21% for subsequent fiscal years. The Tax Act also includes items that the Company expects will increase its tax expense including, but not limited to, the elimination of the domestic manufacturing deduction and increased limitations on executive compensation. In addition, the actual effective tax rate may be materially different than the statutory Federal tax rate (including being higher) based on the availability and impact of various other adjustments including but not limited to state taxes, Federal research and development credits, discrete tax benefits related to stock compensation, and the inclusion or exclusion of various items in taxable income which may differ from GAAP income. To transition to the reduced U.S. corporate tax rate, an adjustment is required to be made to our U.S. deferred tax assets and liabilities. For the nine months ended March 31, 2018, the adjustment to the U.S. deferred tax assets and liabilities resulted in a tax benefit of $905. The Tax Act includes a transition tax, which is a one-time tax charge on accumulated, undistributed foreign earnings. The calculation of accumulated foreign earnings requires an analysis of each foreign entity’s financial results going back to 1986, including historical tax information that is not yet available to management. The Company has not recorded any transition tax associated with its accumulated, undistributed foreign earnings given its current U.S. tax attributes, including the availability of foreign tax credits. The Company recorded a provisional tax expense of $415 in the second quarter of fiscal 2018, as it no longer expects to utilize certain foreign tax credits. The Company continues to evaluate its transition tax obligation and expects to finalize its conclusions by the end of fiscal 2018. The Company does not expect the final amounts to be materially different than those previously recorded. As of March 31, 2018, the Company has recorded all known and estimable impacts of the Tax Act that are effective for fiscal year 2018. In accordance with SEC Staff Accounting Bulletin 118 (“SAB 118”), future adjustments to the provisional numbers will be recorded as discrete adjustments to income tax expense in the period in which those adjustments become estimable and finalized. The Company recorded an income tax provision of $2,209 and $3,170 on income from operations before income taxes of $5,905 and $10,218 for the three months ended March 31, 2018 and 2017, respectively. The Company recorded an income tax benefit of $4,837 and an income tax provision of $3,690 on income from operations before income taxes of $25,945 and $19,761 for the nine months ended March 31, 2018 and 2017, respectively. The effective tax rate for the three months ended March 31, 2018 and 2017 differed from the Federal statutory rate primarily due to Federal research and development credits, domestic manufacturing deduction, excess tax benefits related to stock compensation, and state taxes. During the three months ended March 31, 2018 and 2017, the Company recognized a discrete benefit of $96 and $184, respectively, related to excess tax benefits on stock-based compensation. The excess tax benefit related to stock-based compensation is the result of an increase in value from the stock award between the grant date and the vest date. The effective tax rate for the nine months ended March 31, 2018 and 2017 differed from the Federal statutory rate primarily due to Federal research and development credits, domestic manufacturing deduction, excess tax benefits related to stock compensation, state taxes and the impact of discrete items. During the nine months ended March 31, 2018 and 2017, the Company recognized a discrete tax benefit of $7,675 and $3,001, respectively, related to excess tax benefits on stock-based compensation. The discrete tax benefit for the nine months ended March 31, 2018 included the enactment of the Tax Act which revalued the excess tax benefit previously recorded in the three months ended September 30, 2017. The benefit is the result of the increase in value from the stock award between the grant date and the vest date. The nine months ended March 31, 2018 also included discrete tax benefits of $3,716, derived from new information obtained about net operating loss carry-forwards of the entities acquired from Microsemi Corporation in May 2016. The discrete items disclosed above for the nine months ended March 31, 2018 included the effect of the Tax Act. No material changes in the Company’s unrecognized tax positions occurred during the nine months ended March 31, 2018.

Debt	9 Months Ended
Debt	Mar. 31, 2018
Debt Disclosure [Abstract]
Debt	Debt REVOLVING CREDIT FACILITY On June 27, 2017, the Company amended its revolving credit facility to increase and extend the borrowing capacity of its existing revolving credit facility into a $400,000, 5-year revolving credit line expiring in June 2022 (“the Revolver”). As of March 31, 2018, the Company's outstanding balance of unamortized deferred financing costs was $5,659, which is being amortized to other income (expense), net on a straight line basis over the new term of the Revolver. The Company drew $195,000 from the Revolver to facilitate the completion of the Merger Agreement for the acquisition of both Ceres and its wholly-owned subsidiary, Themis. As of March 31, 2018, the Company was in compliance with all covenants and conditions under the Revolver and there was outstanding borrowings of $195,000 against the Revolver, resulting in interest expense of $999 and $1,101 for the three and nine months ended March 31, 2018, respectively. There were outstanding letters of credit of $2,771 as of March 31, 2018.

Stock-Based Compensation

9 Months Ended

Mar. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation

STOCK OPTION PLANS

The aggregate number of shares authorized for issuance under the Company’s 2005 Stock Incentive Plan, as amended and restated (the “2005 Plan”), is 15,252 shares at March 31, 2018. The 2005 Plan provides for the grant of non-qualified and incentive stock options, restricted stock, stock appreciation rights and deferred stock awards to employees and non-employees. All stock options are granted with an exercise price of not less than 100% of the fair value of the Company’s common stock at the date of grant and the options generally have a term of seven years. There were 1,610 shares available for future grant under the 2005 Plan at March 31, 2018.

As part of the Company's ongoing annual equity grant program for employees, the Company grants performance-based restricted stock awards to certain executives and employees pursuant to the 2005 Plan. Performance awards vest based on the requisite service period subject to the achievement of specific financial performance targets. Based on the performance targets, some of these awards require graded vesting which results in more rapid expense recognition compared to traditional time-based vesting over the same vesting period. The Company monitors the probability of achieving the performance targets on a quarterly basis and may adjust periodic stock compensation expense accordingly based on its determination of the likelihood for reaching targets. The performance targets include: (i) the achievement of internal performance targets only, and (ii) the achievement of internal performance targets in relation to a peer group of companies.

EMPLOYEE STOCK PURCHASE PLAN

The aggregate number of shares authorized for issuance under the Company’s 1997 Employee Stock Purchase Plan, as amended and restated (“ESPP”), is 1,800 shares. Under the ESPP, rights are granted to purchase shares of common stock at 85% of the lesser of the market value of such shares at either the beginning or the end of each six-month offering period. The ESPP permits employees to purchase common stock through payroll deductions, which may not exceed 10% of an employee’s compensation as defined in the ESPP. There were 39 and 50 shares issued under the ESPP during the nine months ended March 31, 2018 and 2017, respectively. Shares available for future purchase under the ESPP totaled 263 at March 31, 2018.

STOCK OPTION AND AWARD ACTIVITY

The following table summarizes activity of the Company’s stock option plans since June 30, 2017:



	Options Outstanding
	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)
Outstanding at June 30, 2017	51		$	13.53	0.60
Granted	—		—
Exercised	(47	)	14.12
Canceled	—		—
Outstanding at March 31, 2018	4		$	5.52	3.38

The following table summarizes the status of the Company’s non-vested restricted stock awards since June 30, 2017:



	Non-vested Restricted Stock Awards
	Number of Shares		Weighted Average Grant Date Fair Value
Outstanding at June 30, 2017	1,564		$	18.93
Granted	516		47.40
Vested	(769	)	17.09
Forfeited	(121	)	31.40
Outstanding at March 31, 2018	1,190		$	31.19

STOCK-BASED COMPENSATION EXPENSE

The Company recognizes expense for its share-based payment plans in the consolidated statements of operations for the nine months ended March 31, 2018 and 2017 in accordance with FASB ASC 718, Compensation - Stock Compensation ("FASB ASC 718"). The Company had $265 and $177 of capitalized stock-based compensation expense on the consolidated balance sheets as of March 31, 2018 and 2017, respectively. Under the fair value recognition provisions of FASB ASC 718, stock-based compensation cost is measured at the grant date based on the value of the award and is recognized as expense over the service period, net of estimated forfeitures. The following table presents share-based compensation expenses included in the Company’s consolidated statements of operations:



	Three Months Ended March 31,						Nine Months Ended March 31,
	2018			2017			2018			2017
Cost of revenues	$	169		$	150		$	364		$	373
Selling, general and administrative	2,929			3,270			11,175			9,848
Research and development	499			295			1,506			1,219
Stock-based compensation expense before tax	3,597			3,715			13,045			11,440
Income taxes	(1,187		)	(1,418		)	(4,305		)	(4,381		)
Stock-based compensation expense, net of income taxes	$	2,410		$	2,297		$	8,740		$	7,059

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References + Details

Employee Benefit Plan Employee Benefit Plan	9 Months Ended
Employee Benefit Plan Employee Benefit Plan	Mar. 31, 2018
Compensation and Retirement Disclosure [Abstract]
Employee Benefit Plan	Employee Benefit Plan PENSION PLAN With the acquisition of CES on November 4, 2016, the Company assumed a defined benefit pension plan (the "Plan") for its Swiss employees, which is administered by an independent pension fund. The Plan is mandated by Swiss law and meets the criteria for a defined benefit plan under FASB ASC 715, Compensation—Retirement Benefits (“FASB ASC 715”), because participants of the Plan are entitled to a defined rate of return on contributions made. The independent pension fund is a multi-employer plan with unrestricted joint liability for all participating companies for which the Plan’s overfunding or underfunding is allocated to each participating company based on an allocation key determined by the Plan. The Company recognizes a net asset or liability for the Plan equal to the difference between the projected benefit obligation of the Plan and the fair value of the Plan’s assets as required by FASB ASC 715. The funded status may vary from year to year due to changes in the fair value of the Plan’s assets and variations on the underlying assumptions of the projected benefit obligation of the Plan. The Plan's funded status at March 31, 2018 was a net liability of $6,991, which is recorded in other non-current liabilities on the consolidated balance sheet. The Company recorded a net gain of $5 and $45 in accumulated other comprehensive income during the three and nine months ended March 31, 2018, respectively. The Company did not record any gains or losses related to the Plan in accumulated other comprehensive income during the three and nine months ended March 31, 2017. The Company recognized net periodic benefit costs of $213 and $620 associated with the Plan for the three and nine months ended March 31, 2018, respectively. The Company recognized net periodic benefit costs of $130 and $199 associated with the Plan for the three and nine months ended March 31, 2017, respectively. The Company's total expected employer contributions to the Plan during fiscal 2018 are $516.

Operating Segment, Geographic Information and Significant Customers

9 Months Ended

Mar. 31, 2018

Segment Reporting [Abstract]

Operating Segment, Geographic Information and Significant Customers

Operating segments are defined as components of an enterprise evaluated regularly by the Company's chief operating decision maker (“CODM”) in deciding how to allocate resources and assess performance. The Company is comprised of one operating and reportable segment. The Company utilized the management approach for determining its operating segment in accordance with FASB ASC 280, Segment Reporting.

The geographic distribution of the Company’s revenues as determined by order origination based on the country in which the Company's legal subsidiary is domiciled is summarized as follows:



	U.S.		Europe		Asia Pacific		Eliminations			Total
THREE MONTHS ENDED MARCH 31, 2018
Net revenues to unaffiliated customers	$	105,989	$	8,611	$	1,736	$	—		$	116,336
Inter-geographic revenues	1,621		235		—		(1,856		)	—
Net revenues	$	107,610	$	8,846	$	1,736	$	(1,856	)	$	116,336
THREE MONTHS ENDED MARCH 31, 2017
Net revenues to unaffiliated customers	$	98,599	$	8,085	$	633	$	—		$	107,317
Inter-geographic revenues	1,745		21		—		(1,766		)	—
Net revenues	$	100,344	$	8,106	$	633	$	(1,766	)	$	107,317
NINE MONTHS ENDED MARCH 31, 2018
Net revenues to unaffiliated customers	$	309,391	$	25,506	$	5,420	$	—		$	340,317
Inter-geographic revenues	6,537		300		—		(6,837		)	—
Net revenues	$	315,928	$	25,806	$	5,420	$	(6,837	)	$	340,317
NINE MONTHS ENDED MARCH 31, 2017
Net revenues to unaffiliated customers	$	273,054	$	14,747	$	5,179	$	—		$	292,980
Inter-geographic revenues	6,925		36		—		(6,961		)	—
Net revenues	$	279,979	$	14,783	$	5,179	$	(6,961	)	$	292,980

In recent years, the Company completed a series of acquisitions that changed its technological capabilities, applications and end markets. As these acquisitions and changes occurred, the Company increased the proportion of its revenue derived from the sale of components in different technological areas, and also increased the amount of revenue associated with combining technologies into more complex and diverse products including modules, sub-assemblies and integrated subsystems. The following tables present revenue consistent with the Company's strategy of expanding its technological capabilities and program content. As additional information related to the Company’s products by end user, application and/or product grouping is attained, the categorization of these products can vary over time. When this occurs, the Company reclassifies revenue by end user, application and/or product grouping for prior periods. Such reclassifications typically do not materially change the sizing of, or the underlying trends of results within, each revenue category.

The following table below presents the Company's net revenue by end user for the periods presented:



	Three Months Ended March 31,				Nine Months Ended March 31,
	2018		2017		2018		2017
Domestic (1)	$	94,369	$	87,765	$	274,016	$	244,343
International/Foreign Military Sales (2)	21,967		19,552		66,301		48,637
Total Net Revenue	$	116,336	$	107,317	$	340,317	$	292,980

(1) Domestic revenues consist of sales where the end user is within the U.S., as well as sales to prime defense contractor customers where the ultimate end user location is not defined.

(2) International/Foreign Military Sales consist of sales to U.S. prime defense contractor customers where the end user is known to be outside the U.S., foreign military sales through the U.S. government, and direct sales to non-U.S. based customers intended for end use outside of the U.S.

The following table below presents the Company's net revenue by end application for the periods presented:



	Three Months Ended March 31,				Nine Months Ended March 31,
	2018		2017		2018		2017
Radar (1)	$	37,262	$	33,017	$	118,480	$	115,308
Electronic Warfare (2)	19,531		35,920		76,950		78,204
Other Sensor & Effector (3)	14,403		7,697		35,144		17,004
Total Sensor & Effector	71,196		76,634		230,574		210,516
C4I (4)	26,593		10,242		52,981		21,194
Other (5)	18,547		20,441		56,762		61,270
Total Net Revenue	$	116,336	$	107,317	$	340,317	$	292,980

(1) Radar includes end-use applications where radio frequency signals are utilized to detect, track, and identify objects.

(2) Electronic Warfare includes end-use applications comprising the offensive and defensive use of the electromagnetic spectrum.

(3) Other Sensor & Effector products include all Sensor & Effector end markets other than Radar and Electronic Warfare.

(4) C4I includes rugged secure rackmount servers that are designed to drive the most powerful military processing applications.

(5) Other products include all component and other sales where the end use is not specified.

The following table below presents the Company's net revenue by product grouping for the periods presented:



	Three Months Ended March 31,				Nine Months Ended March 31,
	2018		2017		2018		2017
Components (1)	$	30,022	$	26,920	$	102,742	$	74,126
Modules and Sub-assemblies (2)	42,121		43,330		131,581		115,744
Integrated Subsystems (3)	44,193		37,067		105,994		103,110
Total Net Revenue	$	116,336	$	107,317	$	340,317	$	292,980

(1) Components include technology elements typically performing a single, discrete technological function, which when physically combined with other components may be used to create a module or sub-assembly. Examples include but are not limited to power amplifiers and limiters, switches, oscillators, filters, equalizers, digital and analog converters, chips, MMICs (monolithic microwave integrated circuits), and memory and storage devices.

(2) Modules and Sub-assemblies include combinations of multiple functional technology elements and/or components that work together to perform multiple functions but are typically resident on or within a single board or housing. Modules and sub-assemblies may in turn be combined to form an integrated subsystem. Examples of modules and sub-assemblies include but are not limited to embedded processing modules, embedded processing boards, switch fabric boards, high speed input/output boards, digital receiver boards, graphics and video processing and Ethernet and IO (input-output) boards, multi-chip modules, integrated radio frequency and microwave multi-function assemblies, tuners, and transceivers.

(3) Integrated Subsystems include multiple modules and/or sub-assemblies combined with a backplane or similar functional element and software to enable a solution. These are typically but not always integrated within a chassis and with cooling, power and other elements to address various requirements and are also often combined with additional technologies for interaction with other parts of a complete system or platform. Integrated subsystems also include spare and replacement modules and sub-assemblies sold as part of the same program for use in or with integrated subsystems sold by the Company.

The geographic distribution of the Company’s long-lived assets is summarized as follows:



	U.S.		Europe		Asia Pacific		Eliminations		Total
March 31, 2018	$	49,503	$	1,777	$	11	$	—	$	51,291
June 30, 2017	$	50,340	$	1,288	$	15	$	—	$	51,643

Identifiable long-lived assets exclude goodwill and intangible assets.

Customers comprising 10% or more of the Company’s revenues for the periods shown below are as follows:



	Three Months Ended March 31,				Nine Months Ended March 31,
	2018		2017		2018		2017
Raytheon Company	21	%	14	%	19	%	17	%
Lockheed Martin Corporation	17	%	27	%	19	%	22	%
Northrop Grumman Corporation	*		*		10	%	*
	38	%	41	%	48	%	39	%


*	Indicates that the amount is less than 10% of the Company’s revenues for the respective period.

While the Company typically has customers from which it derives 10% or more of its revenue, the sales to each of these customers are spread across multiple programs and platforms. Programs comprising 10% or more of the Company’s revenues for the periods shown below are as follows:



	Three Months Ended March 31,				Nine Months Ended March 31,
	2018		2017		2018		2017
SEWIP (1)	*		18	%	*		*
	—	%	18	%	—	%	—	%


*	Indicates that the amount is less than 10% of the Company’s revenues for the respective period.

(1) SEWIP includes 16% and 2% of revenues during the three months ended March 31, 2017 related to the SEWIP Block II and SEWIP Block III, respectively.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 33
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8595-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599

+ Details

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies LEGAL CLAIMS The Company is subject to litigation, claims, investigations and audits arising from time to time in the ordinary course of its business. Although legal proceedings are inherently unpredictable, the Company believes that it has valid defenses with respect to any matters currently pending against the Company and intends to defend itself vigorously. The outcome of these matters, individually and in the aggregate, is not expected to have a material impact on the Company’s cash flows, results of operations, or financial position. INDEMNIFICATION OBLIGATIONS The Company’s standard product sales and license agreements entered into in the ordinary course of business typically contain an indemnification provision pursuant to which the Company indemnifies, holds harmless, and agrees to reimburse the indemnified party for losses suffered or incurred by the indemnified party in connection with any patent, copyright or other intellectual property infringement claim by any third party with respect to the Company’s products. Such provisions generally survive termination or expiration of the agreements. The potential amount of future payments the Company could be required to make under these indemnification provisions is, in some instances, unlimited. PURCHASE COMMITMENTS As of March 31, 2018, the Company has entered into non-cancelable purchase commitments for certain inventory components and services used in its normal operations. The purchase commitments covered by these agreements are for less than one year and aggregate to $57,067. OTHER As part of the Company's strategy for growth, the Company continues to explore acquisitions or strategic alliances. The associated acquisition costs incurred in the form of professional fees and services may be material to the future periods in which they occur, regardless of whether the acquisition is ultimately completed. The Company may elect from time to time to purchase and subsequently retire shares of common stock in order to settle employees’ tax liabilities associated with vesting of a restricted stock award or exercise of stock options. These transactions would be treated as a use of cash in financing activities in the Company's statement of cash flows.

Subsequent Events	9 Months Ended
Subsequent Events	Mar. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events The Company has evaluated subsequent events from the date of the consolidated balance sheet through the date the consolidated financial statements were issued.

Summary of Significant Accounting Policies (Policies)

9 Months Ended

Mar. 31, 2018

Accounting Policies [Abstract]

Basis of Presentation

BASIS OF PRESENTATION

The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation

Use of Estimates

USE OF ESTIMATES

Business Combinations

BUSINESS COMBINATIONS

Foreign Currency

FOREIGN CURRENCY

Accounts Receivable Factoring

ACCOUNTS RECEIVABLE FACTORING

Revenue Recognition

REVENUE RECOGNITION

Weighted-Average Shares

WEIGHTED-AVERAGE SHARES

Weighted-average shares were calculated as follows:



	Three Months Ended March 31,		Nine Months Ended March 31,
	2018	2017	2018	2017
Basic weighted-average shares outstanding	46,844	43,773	46,685	40,573
Effect of dilutive equity instruments	688	1,041	788	957
Diluted weighted-average shares outstanding	47,532	44,814	47,473	41,530

- Definition

Disclosure of accounting policy for trade and other accounts receivable, and finance, loan and lease receivables, including those classified as held for investment and held for sale. This disclosure may include (1) the basis at which such receivables are carried in the entity's statements of financial position (2) how the level of the valuation allowance for receivables is determined (3) when impairments, charge-offs or recoveries are recognized for such receivables (4) the treatment of origination fees and costs, including the amortization method for net deferred fees or costs (5) the treatment of any premiums or discounts or unearned income (6) the entity's income recognition policies for such receivables, including those that are impaired, past due or placed on nonaccrual status and (7) the treatment of foreclosures or repossessions (8) the nature and amount of any guarantees to repurchase receivables.

+ References + Details

Summary of Significant Accounting Policies (Tables)

9 Months Ended

Mar. 31, 2018

Accounting Policies [Abstract]

Basic and Diluted Weighted Average Shares Outstanding

Weighted-average shares were calculated as follows:



	Three Months Ended March 31,		Nine Months Ended March 31,
	2018	2017	2018	2017
Basic weighted-average shares outstanding	46,844	43,773	46,685	40,573
Effect of dilutive equity instruments	688	1,041	788	957
Diluted weighted-average shares outstanding	47,532	44,814	47,473	41,530

Acquisitions (Tables)

9 Months Ended

Mar. 31, 2018

Business Combinations [Abstract]

Schedule of the Net Purchase Price and Fair Values of Assets and Liabilities Acquired

The following table presents the net purchase price and the fair values of the assets and liabilities of Delta:



	Amounts
Consideration transferred
Cash paid at closing	$	40,500
Net purchase price	$	40,500

Fair value of tangible assets acquired and liabilities assumed
Accounts receivable and cost in excess of billings	$	957
Inventory	4,452
Fixed assets	1,918
Other current and non-current assets	77
Current liabilities	(2,055		)
Fair value of net tangible assets acquired	5,349
Fair value of identifiable intangible assets	17,000
Goodwill	18,151
Fair value of net assets acquired	40,500
Net purchase price	$	40,500

The following table presents the net purchase price and the fair values of the assets and liabilities of CES:



	Amounts
Consideration transferred
Cash paid at closing	$	39,123
Working capital adjustment	(330		)
Net purchase price	$	38,793

Fair value of tangible assets acquired and liabilities assumed
Accounts receivable and cost in excess of billings	$	2,698
Inventory	8,950
Fixed assets	1,480
Other current and non-current assets	748
Current liabilities	(3,154		)
Non-current liabilities	(6,140		)
Deferred tax liabilities	(1,148		)
Fair value of net tangible assets acquired	3,434
Fair value of identifiable intangible assets	14,722
Goodwill	20,637
Fair value of net assets acquired	38,793
Net purchase price	$	38,793

The following table presents the net purchase price and the fair values of the assets and liabilities of the Acquired Company on a preliminary basis:



	Amounts
Consideration transferred
Cash paid at closing	$	187,089
Working capital and net debt adjustment	(574		)
Less cash acquired	(6,810		)
Net purchase price	$	179,705

Estimated fair value of tangible assets acquired and liabilities assumed
Cash	$	6,810
Accounts receivable	7,713
Inventory	6,742
Fixed assets	479
Other current and non-current assets	2,896
Accounts payable	(3,287		)
Accrued expenses	(6,267		)
Other current and non-current liabilities	(1,180		)
Deferred tax liability	(14,778		)
Estimated fair value of net tangible assets acquired	(872		)
Estimated fair value of identifiable intangible assets	72,870
Estimated goodwill	114,517
Estimated fair value of net assets acquired	186,515
Less cash acquired	(6,810		)
Net purchase price	$	179,705

Business Acquisition, Pro Forma Information



	Three months Ended March 31,				Nine months Ended March 31,
	2018		2017		2018		2017
Pro forma net revenues	$	122,176	$	118,826	$	377,473	$	325,367
Pro forma net income	$	1,191	$	6,573	$	26,811	$	3,069
Basic pro forma net earnings per share	$	0.03	$	0.15	$	0.57	$	0.08
Diluted pro forma net earnings per share	$	0.03	$	0.15	$	0.56	$	0.07

Fair Value of Financial Instruments (Tables)

9 Months Ended

Mar. 31, 2018

Fair Value Disclosures [Abstract]

Summary of Financial Assets Measured at Fair Value

The following table summarizes the Company’s financial assets measured at fair value on a recurring basis at March 31, 2018:



	Fair Value Measurements
	March 31, 2018		Level 1		Level 2		Level 3
Assets:
Certificates of deposit	$	1,051	$	—	$	1,051	$	—
Total	$	1,051	$	—	$	1,051	$	—

Inventory (Tables)

9 Months Ended

Mar. 31, 2018

Inventory Disclosure [Abstract]

Inventory

Inventory was comprised of the following:



	March 31, 2018		June 30, 2017
Raw materials	$	63,290	$	48,645
Work in process	29,910		22,567
Finished goods	23,875		9,859
Total	$	117,075	$	81,071

Goodwill (Tables)

9 Months Ended

Mar. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in Carrying Amount of Goodwill

The following table sets forth the changes in the carrying amount of goodwill by reporting unit for the nine months ended March 31, 2018:



	SMP		AMS		MDS		Total
Balance at June 30, 2017	$	116,003	$	217,956	$	46,887	$	380,846
Goodwill adjustment for the CES acquisition	291		—		—		291
Goodwill adjustment for the Delta acquisition	—		191		—		191
Goodwill arising from the RTL acquisition	3,447		—		—		3,447
Goodwill arising from the Themis acquisition	—		—		114,517		114,517
Balance at March 31, 2018	$	119,741	$	218,147	$	161,404	$	499,292

Restructuring (Tables)

9 Months Ended

Mar. 31, 2018

Restructuring and Related Activities [Abstract]

Expenses by Reportable Segment for Restructuring Plans

The following table presents the detail of activity for the Company’s restructuring plans:



	Severance & Related			Facilities & Other			Total
Restructuring liability at June 30, 2017	$	1,365		$	—		$	1,365
Restructuring and other charges	1,665			127			1,792
Cash paid	(1,656		)	(127		)	(1,783		)
Restructuring liability at March 31, 2018	$	1,374		$	—		$	1,374

Stock-Based Compensation (Tables)

9 Months Ended

Mar. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Stock Option Plans

The following table summarizes activity of the Company’s stock option plans since June 30, 2017:



	Options Outstanding
	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)
Outstanding at June 30, 2017	51		$	13.53	0.60
Granted	—		—
Exercised	(47	)	14.12
Canceled	—		—
Outstanding at March 31, 2018	4		$	5.52	3.38

Summary of Nonvested Restricted Stock

The following table summarizes the status of the Company’s non-vested restricted stock awards since June 30, 2017:



	Non-vested Restricted Stock Awards
	Number of Shares		Weighted Average Grant Date Fair Value
Outstanding at June 30, 2017	1,564		$	18.93
Granted	516		47.40
Vested	(769	)	17.09
Forfeited	(121	)	31.40
Outstanding at March 31, 2018	1,190		$	31.19

Stock Based Compensation Expenses

The following table presents share-based compensation expenses included in the Company’s consolidated statements of operations:



	Three Months Ended March 31,						Nine Months Ended March 31,
	2018			2017			2018			2017
Cost of revenues	$	169		$	150		$	364		$	373
Selling, general and administrative	2,929			3,270			11,175			9,848
Research and development	499			295			1,506			1,219
Stock-based compensation expense before tax	3,597			3,715			13,045			11,440
Income taxes	(1,187		)	(1,418		)	(4,305		)	(4,381		)
Stock-based compensation expense, net of income taxes	$	2,410		$	2,297		$	8,740		$	7,059

Operating Segment, Geographic Information and Significant Customers (Tables)

9 Months Ended

Mar. 31, 2018

Segment Reporting [Abstract]

Geographic Distribution of Revenues and Long Lived Assets from Continuing Operations

The geographic distribution of the Company’s revenues as determined by order origination based on the country in which the Company's legal subsidiary is domiciled is summarized as follows:



	U.S.		Europe		Asia Pacific		Eliminations			Total
THREE MONTHS ENDED MARCH 31, 2018
Net revenues to unaffiliated customers	$	105,989	$	8,611	$	1,736	$	—		$	116,336
Inter-geographic revenues	1,621		235		—		(1,856		)	—
Net revenues	$	107,610	$	8,846	$	1,736	$	(1,856	)	$	116,336
THREE MONTHS ENDED MARCH 31, 2017
Net revenues to unaffiliated customers	$	98,599	$	8,085	$	633	$	—		$	107,317
Inter-geographic revenues	1,745		21		—		(1,766		)	—
Net revenues	$	100,344	$	8,106	$	633	$	(1,766	)	$	107,317
NINE MONTHS ENDED MARCH 31, 2018
Net revenues to unaffiliated customers	$	309,391	$	25,506	$	5,420	$	—		$	340,317
Inter-geographic revenues	6,537		300		—		(6,837		)	—
Net revenues	$	315,928	$	25,806	$	5,420	$	(6,837	)	$	340,317
NINE MONTHS ENDED MARCH 31, 2017
Net revenues to unaffiliated customers	$	273,054	$	14,747	$	5,179	$	—		$	292,980
Inter-geographic revenues	6,925		36		—		(6,961		)	—
Net revenues	$	279,979	$	14,783	$	5,179	$	(6,961	)	$	292,980

The following table below presents the Company's net revenue by end user for the periods presented:



	Three Months Ended March 31,				Nine Months Ended March 31,
	2018		2017		2018		2017
Domestic (1)	$	94,369	$	87,765	$	274,016	$	244,343
International/Foreign Military Sales (2)	21,967		19,552		66,301		48,637
Total Net Revenue	$	116,336	$	107,317	$	340,317	$	292,980

(1) Domestic revenues consist of sales where the end user is within the U.S., as well as sales to prime defense contractor customers where the ultimate end user location is not defined.

The following table below presents the Company's net revenue by end application for the periods presented:



	Three Months Ended March 31,				Nine Months Ended March 31,
	2018		2017		2018		2017
Radar (1)	$	37,262	$	33,017	$	118,480	$	115,308
Electronic Warfare (2)	19,531		35,920		76,950		78,204
Other Sensor & Effector (3)	14,403		7,697		35,144		17,004
Total Sensor & Effector	71,196		76,634		230,574		210,516
C4I (4)	26,593		10,242		52,981		21,194
Other (5)	18,547		20,441		56,762		61,270
Total Net Revenue	$	116,336	$	107,317	$	340,317	$	292,980

(1) Radar includes end-use applications where radio frequency signals are utilized to detect, track, and identify objects.

(2) Electronic Warfare includes end-use applications comprising the offensive and defensive use of the electromagnetic spectrum.

(3) Other Sensor & Effector products include all Sensor & Effector end markets other than Radar and Electronic Warfare.

(4) C4I includes rugged secure rackmount servers that are designed to drive the most powerful military processing applications.

(5) Other products include all component and other sales where the end use is not specified.

The following table below presents the Company's net revenue by product grouping for the periods presented:



	Three Months Ended March 31,				Nine Months Ended March 31,
	2018		2017		2018		2017
Components (1)	$	30,022	$	26,920	$	102,742	$	74,126
Modules and Sub-assemblies (2)	42,121		43,330		131,581		115,744
Integrated Subsystems (3)	44,193		37,067		105,994		103,110
Total Net Revenue	$	116,336	$	107,317	$	340,317	$	292,980

The geographic distribution of the Company’s long-lived assets is summarized as follows:



	U.S.		Europe		Asia Pacific		Eliminations		Total
March 31, 2018	$	49,503	$	1,777	$	11	$	—	$	51,291
June 30, 2017	$	50,340	$	1,288	$	15	$	—	$	51,643

Customers Comprising Ten Percent or More Revenues

Customers comprising 10% or more of the Company’s revenues for the periods shown below are as follows:



	Three Months Ended March 31,				Nine Months Ended March 31,
	2018		2017		2018		2017
Raytheon Company	21	%	14	%	19	%	17	%
Lockheed Martin Corporation	17	%	27	%	19	%	22	%
Northrop Grumman Corporation	*		*		10	%	*
	38	%	41	%	48	%	39	%


*	Indicates that the amount is less than 10% of the Company’s revenues for the respective period.

Schedules of Concentration of Risk, by Risk Factor

Programs comprising 10% or more of the Company’s revenues for the periods shown below are as follows:



	Three Months Ended March 31,				Nine Months Ended March 31,
	2018		2017		2018		2017
SEWIP (1)	*		18	%	*		*
	—	%	18	%	—	%	—	%


*	Indicates that the amount is less than 10% of the Company’s revenues for the respective period.

(1) SEWIP includes 16% and 2% of revenues during the three months ended March 31, 2017 related to the SEWIP Block II and SEWIP Block III, respectively.

Description of Business (Details)	9 Months Ended
Description of Business (Details)	Mar. 31, 2018 program contractor
Accounting Policies [Abstract]
Number of programs using products and services \| program	300
Number of defense prime contractors using products and services \| contractor	25

Summary of Significant Accounting Policies - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Mar. 31, 2018 accounting_method	Mar. 31, 2017	Mar. 31, 2018 USD ($) accounting_method	Mar. 31, 2017	Dec. 21, 2017 USD ($)
Significant Accounting Policies [Line Items]
Number of accounting methods for revenue recognition \| accounting_method	3		3
Purchase agreement, maximum receivable balances					$ 30,000,000
Factored accounts receivable			$ 18,821,000
Accounts receivable factoring fees			$ 69,000
Ship and bill
Significant Accounting Policies [Line Items]
Percentage of revenue recognized	47.00%	43.00%	43.00%	45.00%
Multiple deliverable
Significant Accounting Policies [Line Items]
Percentage of revenue recognized	30.00%	37.00%	35.00%	32.00%
Contract accounting
Significant Accounting Policies [Line Items]
Percentage of revenue recognized	23.00%	20.00%	22.00%	23.00%

Summary of Significant Accounting Policies -Basic and Diluted Weighted Average Shares Outstanding (Detail) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share [Abstract]
Basic weighted-average shares outstanding (in shares)	46,844	43,773	46,685	40,573
Effect of dilutive equity instruments (in shares)	688	1,041	788	957
Diluted weighted-average shares outstanding (in shares)	47,532	44,814	47,473	41,530
Antidilutive securities excluded from computation of earnings per share (in shares)	33	9	302	13

Acquisitions - Narrative (Details) - USD ($) $ in Thousands					3 Months Ended	9 Months Ended
Acquisitions - Narrative (Details) - USD ($) $ in Thousands	Feb. 01, 2018	Jul. 03, 2017	Apr. 03, 2017	Nov. 04, 2016	Mar. 31, 2018	Mar. 31, 2018	Mar. 31, 2017	Jun. 30, 2017
Business Acquisition [Line Items]
Acquisition of business, net of cash acquired						$ 185,396	$ 36,911
Estimated fair value of goodwill					$ 499,292	499,292		$ 380,846
Themis Computer Acquisition
Business Acquisition [Line Items]
Acquisition of business, net of cash acquired	$ 179,705
Estimated fair value of goodwill	114,517
Revenue of acquiree since acquisition date					9,501
Net income (loss) of acquiree since acquisition date					267
Cash paid at closing	187,089
Themis Computer Acquisition \| Customer Relationships
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired	$ 53,420
Useful life of acquired assets	12 years 6 months
Themis Computer Acquisition \| Developed Technology Rights
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired	$ 17,150
Useful life of acquired assets	9 years 6 months
Themis Computer Acquisition \| Backlog
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired	$ 2,300
Useful life of acquired assets	1 year
RTL
Business Acquisition [Line Items]
Total purchase price		$ 5,798
Delta
Business Acquisition [Line Items]
Acquisition of business, net of cash acquired			$ 40,500
Total purchase price			40,500
Estimated fair value of goodwill			18,151
Tax deductible goodwill					$ 17,298	$ 17,298
Cash paid at closing			40,500
Delta \| Customer Relationships
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired			$ 8,000
Useful life of acquired assets			9 years
Delta \| Developed Technology Rights
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired			$ 5,900
Useful life of acquired assets			7 years
Delta \| Backlog
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired			$ 3,100
Useful life of acquired assets			2 years
CES Creative Electronic Systems S.A.
Business Acquisition [Line Items]
Acquisition of business, net of cash acquired				$ 38,793
Estimated fair value of goodwill				20,637
Cash paid at closing				39,123
CES Creative Electronic Systems S.A. \| Customer Relationships
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired				$ 9,060
Useful life of acquired assets				9 years
CES Creative Electronic Systems S.A. \| Developed Technology Rights
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired				$ 5,662
Useful life of acquired assets				7 years

Acquisitions - Net Purchase Price and Fair Values of Assets and Liabilities Acquired (Details) - USD ($) $ in Thousands				9 Months Ended
	Feb. 01, 2018	Apr. 03, 2017	Nov. 04, 2016	Mar. 31, 2018	Mar. 31, 2017	Jun. 30, 2017
Consideration transferred
Net purchase price				$ 185,396	$ 36,911
Estimated fair value of tangible assets acquired and liabilities assumed
Estimated fair value of goodwill				$ 499,292		$ 380,846
Themis Computer Acquisition
Consideration transferred
Cash paid at closing	$ 187,089
Working capital adjustment	(574)
Cash Acquired from Acquisition	(6,810)
Net purchase price	179,705
Estimated fair value of tangible assets acquired and liabilities assumed
Cash	6,810
Accounts receivable and cost in excess of billings	7,713
Inventory	6,742
Fixed assets	479
Other current and non-current assets	2,896
Accounts payable	(3,287)
Accrued expenses	(6,267)
Other current liabilities	(1,180)
Deferred tax liabilities	(14,778)
Fair value of net tangible assets acquired	(872)
Fair value of identifiable intangible assets	72,870
Estimated fair value of goodwill	114,517
Estimated fair value of assets acquired	$ 186,515
Delta
Consideration transferred
Cash paid at closing		$ 40,500
Net purchase price		40,500
Estimated fair value of tangible assets acquired and liabilities assumed
Accounts receivable and cost in excess of billings		957
Inventory		4,452
Fixed assets		1,918
Other current and non-current assets		77
Current liabilities		(2,055)
Fair value of net tangible assets acquired		5,349
Fair value of identifiable intangible assets		17,000
Estimated fair value of goodwill		18,151
Estimated fair value of assets acquired		$ 40,500
CES Creative Electronic Systems S.A.
Consideration transferred
Cash paid at closing			$ 39,123
Working capital adjustment			(330)
Net purchase price			38,793
Estimated fair value of tangible assets acquired and liabilities assumed
Accounts receivable and cost in excess of billings			2,698
Inventory			8,950
Fixed assets			1,480
Other current and non-current assets			748
Current liabilities			(3,154)
Non-current liabilities			(6,140)
Deferred tax liabilities			(1,148)
Fair value of net tangible assets acquired			3,434
Fair value of identifiable intangible assets			14,722
Estimated fair value of goodwill			20,637
Estimated fair value of assets acquired			$ 38,793

Acquisitions - Pro Forma (Details) - Themis Computer Acquisition - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Business Acquisition [Line Items]
Pro forma net revenues	$ 122,176	$ 118,826	$ 377,473	$ 325,367
Pro forma net income	$ 1,191	$ 6,573	$ 26,811	$ 3,069
Basic pro forma net earnings per share (in dollars per share)	$ 30	$ 150	$ 570	$ 80
Diluted pro forma net earnings per share (in dollars per share)	$ 30	$ 150	$ 560	$ 70

Fair Value of Financial Instruments - Summary of Financial Assets Measured at Fair Value on Recurring Basis (Detail) - Fair Value - Fair Value, Measurements, Recurring $ in Thousands	Mar. 31, 2018 USD ($)
Assets:
Fair value measurement disclosure	$ 1,051
Certificates of deposit
Assets:
Fair value measurement disclosure	1,051
Level 1
Assets:
Fair value measurement disclosure	0
Level 1 \| Certificates of deposit
Assets:
Fair value measurement disclosure	0
Level 2
Assets:
Fair value measurement disclosure	1,051
Level 2 \| Certificates of deposit
Assets:
Fair value measurement disclosure	1,051
Level 3
Assets:
Fair value measurement disclosure	0
Level 3 \| Certificates of deposit
Assets:
Fair value measurement disclosure	$ 0

Inventory (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Jun. 30, 2017
Inventory Disclosure [Abstract]
Raw materials	$ 63,290	$ 48,645
Work in process	29,910	22,567
Finished goods	23,875	9,859
Total	$ 117,075	$ 81,071

Inventory - Additional Information (Detail) - Product	9 Months Ended
Inventory - Additional Information (Detail) - Product	Mar. 31, 2018 USD ($)
Schedule of Inventory [Line Items]
Inventory relating to contracts having production cycles longer than one year	$ 0
Production cycle term (in years)	P1Y

Changes in Carrying Amount of Goodwill (Detail) $ in Thousands	9 Months Ended
	Mar. 31, 2018 USD ($)
Goodwill [Roll Forward]
Beginning Balance	$ 380,846
Ending Balance	499,292
SMP
Goodwill [Roll Forward]
Beginning Balance	116,003
Ending Balance	119,741
AMS
Goodwill [Roll Forward]
Beginning Balance	217,956
Ending Balance	218,147
Mercury Defense Systems [Member]
Goodwill [Roll Forward]
Beginning Balance	46,887
Ending Balance	161,404
CES Creative Electronic Systems S.A.
Goodwill [Roll Forward]
Goodwill arising from the RTL acquisition	291
CES Creative Electronic Systems S.A. \| SMP
Goodwill [Roll Forward]
Goodwill arising from the RTL acquisition	291
Delta
Goodwill [Roll Forward]
Goodwill arising from the RTL acquisition	191
Delta \| AMS
Goodwill [Roll Forward]
Goodwill arising from the RTL acquisition	191
RTL
Goodwill [Roll Forward]
Goodwill arising from the RTL acquisition	3,447
RTL \| SMP
Goodwill [Roll Forward]
Goodwill arising from the RTL acquisition	3,447
Themis
Goodwill [Roll Forward]
Goodwill arising from the RTL acquisition	114,517
Themis \| Mercury Defense Systems [Member]
Goodwill [Roll Forward]
Goodwill arising from the RTL acquisition	$ 114,517

Restructuring - Expenses by Reportable Segment for Restructuring Plans (Detail) $ in Thousands	9 Months Ended
	Mar. 31, 2018 USD ($)
Restructuring Reserve [Roll Forward]
Restructuring liability at June 30, 2017	$ 1,365
Restructuring and other charges	1,792
Cash paid	(1,783)
Restructuring liability at March 31, 2018	1,374
Severance & Related
Restructuring Reserve [Roll Forward]
Restructuring liability at June 30, 2017	1,365
Restructuring and other charges	1,665
Cash paid	(1,656)
Restructuring liability at March 31, 2018	1,374
Facilities & Other
Restructuring Reserve [Roll Forward]
Restructuring liability at June 30, 2017	0
Restructuring and other charges	127
Cash paid	(127)
Restructuring liability at March 31, 2018	$ 0

Restructuring - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Other Income and Expenses [Abstract]
Restructuring expenses	$ 1,384	$ 459	$ 1,792	$ 825

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Federal statutory rate, blended rate for next fiscal year	28.00%		28.00%
Federal statutory rate in periods subsequent to next fiscal year	21.00%		21.00%
Deferred tax assets, effect of Tax Cuts and Jobs Act, tax expense (benefit)			$ 905
Provisional tax expense for foreign tax credits	$ 415
Income tax (benefit) expense	2,209	$ 3,170	(4,837)	$ 3,690
(Loss) income from operations before income taxes	5,905	10,218	25,945	19,761
Excess tax benefits on stock-based compensation	$ 96	$ 184	7,675	$ 3,001
Operating loss carryforward, increase in carrying value			$ 3,716

Debt - Additional Information (Detail) - USD ($)		3 Months Ended		9 Months Ended
Debt - Additional Information (Detail) - USD ($)	Jun. 27, 2017	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017	Jun. 30, 2017
Debt Instrument [Line Items]
Long-term debt		$ 195,000,000		$ 195,000,000		$ 0
Interest expense		999,000	$ 1,893,000	1,101,000	$ 5,613,000
Amount of outstanding letter of credit		2,771,000		2,771,000
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 400,000,000
Debt instrument term	5 years
Proceeds from lines of credit				195,000,000
Long-term debt		195,000,000		195,000,000
Interest expense		999,000		1,101,000
Term Loan
Debt Instrument [Line Items]
Debt issuance costs		$ 5,659,000		$ 5,659,000

Stock-Based Compensation - Additional Information (Detail) - USD ($) shares in Thousands, $ in Thousands	9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocation of recognized period costs, capitalized amount	$ 265	$ 177
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for issuance under stock incentive plan (in shares)	1,800
Shares available for future grant (in shares)	263
Purchase price as a percentage of the lesser of the market value of such shares at either the beginning or the end of each nine-month offering period	85.00%
Percentage of employee compensation that may be uses to purchase common stock through payroll deductions, maximum	10.00%
Granted (in shares)	39	50
2005 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for issuance under stock incentive plan (in shares)	15,252
Exercise price of stock option, percentage	100.00%
Shares available for future grant (in shares)	1,610
2005 Stock Incentive Plan \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of stock option	7 years

Stock-Based Compensation - Summary of Stock Option Plans (Detail) - Stock Options - $ / shares shares in Thousands	9 Months Ended	12 Months Ended
	Mar. 31, 2018	Jun. 30, 2017
Number of Shares
Outstanding at beginning of period (in shares)	51
Granted (in shares)	0
Exercised (in shares)	(47)
Cancelled (in shares)	0
Outstanding at end of period (in shares)	4	51
Weighted Average Exercise Price
Outstanding at beginning of period (usd per share)	$ 13.53
Granted (usd per share)	0.00
Exercised (usd per share)	14.12
Cancelled (usd per share)	0.00
Outstanding at end of period (usd per share)	$ 5.52	$ 13.53
Weighted Average Remaining Contractual Term (Years)
Outstanding at end of period	3 years 4 months 18 days	7 months 5 days

Stock-Based Compensation - Summary of Nonvested Restricted Stock (Detail) - Restricted Stock shares in Thousands	9 Months Ended
	Mar. 31, 2018 $ / shares shares
Number of Shares
Beginning Balance (in shares) \| shares	1,564
Granted (in shares) \| shares	516
Vested (in shares) \| shares	(769)
Forfeited (in shares) \| shares	(121)
Ending Balance (in shares) \| shares	1,190
Weighted Average Grant Date Fair Value
Beginning Balance (usd per share) \| $ / shares	$ 18.93
Granted (usd per share) \| $ / shares	47.40
Vested (usd per share) \| $ / shares	17.09
Forfeited (usd per share) \| $ / shares	31.40
Ending Balance (usd per share) \| $ / shares	$ 31.19

Stock-Based Compensation - Stock-Based Compensation Expenses (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense before tax	$ 3,597	$ 3,715	$ 13,045	$ 11,440
Income taxes	(1,187)	(1,418)	(4,305)	(4,381)
Net compensation expense	2,410	2,297	8,740	7,059
Cost of revenues
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense before tax	169	150	364	373
Selling, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense before tax	2,929	3,270	11,175	9,848
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense before tax	$ 499	$ 295	$ 1,506	$ 1,219

Employee Benefit Plan (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Employee Benefit Plan (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Pension benefit plan, net of tax	$ 5	$ 0	$ 45	$ 0
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit cost	213	$ 130	620	$ 199
Fiscal 2017 cash contributions to plan			516
Pension Plan \| Other Noncurrent Liabilities
Defined Benefit Plan Disclosure [Line Items]
Net funded status of plan	$ 6,991		$ 6,991

Operating Segment, Geographic Information and Significant Customers - Geographic Distribution of Revenues and Long Lived Assets from Continuing Operations (Detail) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2018 USD ($)	Mar. 31, 2017 USD ($)	Mar. 31, 2018 USD ($) segment	Mar. 31, 2017 USD ($)	Jun. 30, 2017 USD ($)
Segment Reporting [Abstract]
Number of operating segments \| segment			1
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	$ 116,336	$ 107,317	$ 340,317	$ 292,980
Identifiable long-lived assets	51,291		51,291		$ 51,643
Components
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	30,022	26,920	102,742	74,126
Modules and Sub-assemblies
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	42,121	43,330	131,581	115,744
Integrated Subsystems
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	44,193	37,067	105,994	103,110
Total Sensor & Effector
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	71,196	76,634	230,574	210,516
Radar
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	37,262	33,017	118,480	115,308
Electronic Warfare
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	19,531	35,920	76,950	78,204
Other Sensor & Effector
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	14,403	7,697	35,144	17,004
C4I
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	26,593	10,242	52,981	21,194
Other End Applications
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	18,547	20,441	56,762	61,270
Domestic
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	94,369	87,765	274,016	244,343
International/Foreign Military Sales
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	21,967	19,552	66,301	48,637
US
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	105,989	98,599	309,391	273,054
Europe
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	8,611	8,085	25,506	14,747
Asia Pacific
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	1,736	633	5,420	5,179
Reportable Geographical Components \| US
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	107,610	100,344	315,928	279,979
Identifiable long-lived assets	49,503		49,503		50,340
Reportable Geographical Components \| Europe
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	8,846	8,106	25,806	14,783
Identifiable long-lived assets	1,777		1,777		1,288
Reportable Geographical Components \| Asia Pacific
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	1,736	633	5,420	5,179
Identifiable long-lived assets	11		11		15
Geography Eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	(1,856)	(1,766)	(6,837)	(6,961)
Identifiable long-lived assets	0		0		$ 0
Geography Eliminations \| US
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	(1,621)	(1,745)	(6,537)	(6,925)
Geography Eliminations \| Europe
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	(235)	(21)	(300)	(36)
Geography Eliminations \| Asia Pacific
Segment Reporting, Revenue Reconciling Item [Line Items]
Net revenues	$ 0	$ 0	$ 0	$ 0

Operating Segment, Geographic Information and Significant Customers - Customers Comprising Ten Percent or more Revenues (Detail) - Sales Revenue, Net	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Revenue, Major Customer [Line Items]
Concentration risk, percentage	0.00%	18.00%	0.00%	0.00%
Customer Concentration Risk
Revenue, Major Customer [Line Items]
Concentration risk, percentage	38.00%	41.00%	48.00%	39.00%
Customer Concentration Risk \| Lockheed Martin Corporation
Revenue, Major Customer [Line Items]
Concentration risk, percentage	21.00%	14.00%	19.00%	17.00%
Customer Concentration Risk \| Lockheed Martin Corporation [Member]
Revenue, Major Customer [Line Items]
Concentration risk, percentage	17.00%	27.00%	19.00%	22.00%
Customer Concentration Risk \| Northrop Grumman Corporation
Revenue, Major Customer [Line Items]
Concentration risk, percentage			10.00%

Operating Segment, Geographic Information and Significant Customers - Programs Comprising Ten Percent or more of Company's Revenue (Detail) - Sales Revenue, Net	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Segment Reporting Information [Line Items]
Concentration risk, percentage	0.00%	18.00%	0.00%	0.00%
Program Concentration Risk \| SEWIP
Segment Reporting Information [Line Items]
Concentration risk, percentage		18.00%

Commitments And Contingencies - Additional Information (Detail) $ in Thousands	Mar. 31, 2018 USD ($)
Non-cancelable purchase commitments
Long-term Purchase Commitment [Line Items]
Purchase commitments for less than one year	$ 57,067