Comtech Telecom -10.4% as Q4 revenues decline and miss

|About: Comtech Telecommunications... (CMTL)|By:, SA News Editor

Comtech Telecommunications (NASDAQ:CMTL) is off 10.4% after hours following Q4 earnings where revenues declined and missed, though income rose and topped expectations.

Operating income (GAAP basis) rose to $14.8M from $7.5M, and net income on that basis increased to $7.3M from $2.7M. Adjusted EBITDA came to $29.1M, above an expected $26.2M.

Book-to-bill ratio came to 0.90; as of July 31, backlog was $446.2M.

Cash and equivalents came to $41.8M after cash flow from operations of $23M.

It's set fiscal 2018 targets for revenue of $550M-$575M (vs. consensus for $567M), GAAP EPS of $0.41-$0.44 (above consensus for $0.40), and an effective income tax rate of 34.75%.

Conference call to come tomorrow at 8:30 a.m. ET.

Press Release

Subscribe for full text news in your inbox