Comtech Telecommunications Corp. posted fourth-quarter earnings that surged 45% to $17.1M ($0.63/share) on revenue of $117.8M from $11.8M ($0.45/sh.) on revenue of $100.2M a year ago. Analysts had expected earnings of $0.44/share on revenue of about $113M, on average. Excluding items, earnings were $18.5M ($0.67/share) up from $12.9M ($0.48/share) last year. The company said fundamentals were solid across all three business segments, and that it continued to see strong demand. Growth in its mobile data communications and RF microwave amplifiers segments, it said, was partially offset by lower sales in the telecommunications transmission segment. Selling, general and administrative expenses were little-changed, while amortization expenses fell. Separately, the company announced that a unit received orders worth $37.3M under its recently awarded Movement Tracking System contract with the U.S. Army. Shares rose 2.2% in extended trading to $51.25 after a 4.2% gain in the regular trading session.
Sources: Press release, Reuters
Commentary: Comtech Comes Through With Big Contract Wins, Nine Top Earnings Surprise Candidates, Comtech Telecommunications: Stellar Track Record, Big Future Prospects
Stocks/ETFs to watch: CMTL. Competitors: ELMG, HRS, VSAT. ETFs: IYZ, TTH, VOX
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