Comtech Announces Results for its Fourth Quarter of Fiscal 2023 and Provides First Quarter Fiscal 2024 Financial Targets

Rhea-AI Summary

Comtech announces Q4 fiscal 2023 financial results and Q1 fiscal 2024 targets

Positive

• Q4 consolidated net sales up 9.2% sequentially to $148.8 million
• Q4 consolidated adjusted EBITDA of $18.9 million, or 12.7% of consolidated net sales

Negative

• None.

Q4 Consolidated Net Sales Up 9.2% Sequentially to $148.8 Million

Q4 Consolidated Adjusted EBITDA of $18.9 Million, or 12.7% of Consolidated Net Sales

MELVILLE, N.Y.--(BUSINESS WIRE)-- October 12, 2023-- Comtech (NASDAQ: CMTL) today announced its fourth quarter fiscal 2023 financial results and provided its first quarter fiscal 2024 financial targets in a letter to shareholders which is now posted to the Investor Relations section of Comtech's website.

Investors are invited to access the fourth quarter fiscal 2023 shareholder letter at its web site at comtech.com/investors/. A copy of the letter will also be filed with the Securities and Exchange Commission in a Form 8-K.

Comtech also intends to host a previously scheduled earnings conference call at 5:00PM ET today. Individuals can access the conference call by dialing (800) 579-2543 (domestic) or (785) 424-1789 (international) and using the conference I.D. of “Comtech.” A replay of the conference call will be available for two weeks by dialing (800) 839-3020 or (402) 220-7234. A live webcast of the call is also available at comtech.com/investors/.

About Comtech

Comtech Telecommunications Corp. is a leading global technology company providing terrestrial and wireless network solutions, next-generation 9-1-1 emergency services, satellite and space communications technologies, and cloud native capabilities to commercial and government customers around the world. Our unique culture of innovation and employee empowerment unleashes a relentless passion for customer success. With multiple facilities located in technology corridors throughout the United States and around the world, Comtech leverages our global presence, technology leadership, and decades of experience to create the world’s most innovative communications solutions. For more information, please visit www.comtech.com.

Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results could differ materially from such forward-looking information. The Company's Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward- looking information in this press release is qualified in its entirety by the risks and uncertainties described in such Securities and Exchange Commission filings.

PCMTL

View source version on businesswire.com: https://www.businesswire.com/news/home/20231012464887/en/

Investor Relations

Robert Samuels

investors@comtech.com

Source: Comtech Telecommunications Corp.

FAQ

What are Comtech's Q4 fiscal 2023 net sales?

Comtech's Q4 net sales were $148.8 million, up 9.2% sequentially.

What is Comtech's Q4 consolidated adjusted EBITDA?

Comtech's Q4 consolidated adjusted EBITDA was $18.9 million, or 12.7% of consolidated net sales.

Where can I access Comtech's shareholder letter?

You can access Comtech's shareholder letter on its website at comtech.com/investors/.

How can I listen to the earnings conference call?

You can access the earnings conference call by dialing (800) 579-2543 (domestic) or (785) 424-1789 (international) and using the conference I.D. of 'Comtech'. A replay of the conference call will also be available.

Is there a webcast of the conference call?

Yes, there is a live webcast of the conference call available at comtech.com/investors/.