
As a company that designs, develops, produces and markets innovative products, systems and services for advanced communications solutions, Comtech Telecommunications Corp. (CMTL) announced early last week that the company’s 1Q profits slipped year-over-year, but managed to come in ahead of market expectations. Comtech conducts business through three complementary segments, telecommunications transmission, mobile data communications and RF microwave amplifiers.
For the recent period, Comtech posted a net quarterly profit of $9M, or $0.30 per share, well below the previous year’s net earnings of $21.6M, or $0.80 per share, a decrease in profits of more than 58%. Total sales for the quarter retreated as well, falling from $191.9M to $133.8M, a decline of more than 30%.