Comtech Telecommunications Cp Stock Price, News & Analysis

Comtech Telecommunications Corp. (CMTL) reported its Q1 fiscal 2022 results, revealing consolidated net sales of $116.8 million and a GAAP net loss of $6.0 million, outperforming expectations. In comparison, Q1 fiscal 2021 saw net sales of $135.2 million and a net loss of $85.8 million. New bookings reached $86.4 million, with a book-to-bill ratio of 0.74x. The company has a backlog of $628.5 million and revenue visibility exceeding $1.2 billion. Comtech reconfirms fiscal 2022 targets, expecting net sales between $580 million to $600 million.

Outerbridge Capital Management, holding 4.9% of Comtech Telecommunications Corp. (CMTL), announced nominations for Wendi Carpenter and Sidney Fuchs to the Board of Directors amidst accusations of misleading tactics from Comtech's Board. Outerbridge emphasizes that the incumbent Board has resorted to scare tactics to prevent independent candidates from joining. The firm argues that the election of these nominees is critical for improving Comtech's governance and performance, highlighting both nominees' distinguished backgrounds in the military and intelligence.

Comtech Telecommunications Corp. (CMTL) announced a $2 million order from Intellian for C-Band and Ku-Band Low Power Outdoor Block Up Converters (LPOD BUCs) during its first fiscal quarter of 2022. This contract will enhance Intellian's capabilities in providing reliable marine satellite communication systems in demanding environments like oil & gas, cruise ships, and merchant shipping. The LPOD BUCs offer advanced monitoring features, supporting efficient network management. Comtech's products are recognized for their performance in critical maritime communications.

On December 7, 2021, Comtech Telecommunications Corp. (CMTL) addressed a report by Institutional Shareholder Services (ISS) regarding its board of directors' election. Comtech highlighted its significant shareholder returns over five years, outperforming industry benchmarks by delivering 126.7% returns. The company criticized ISS for underestimating risks linked to candidate Sidney Fuchs, citing concerns from major customers. Comtech urges shareholders to vote for its nominees, Judy Chambers and Larry Waldman, while emphasizing the importance of maintaining the current board's strategic direction for long-term growth.

Outerbridge Capital Management announced that Institutional Shareholder Services (ISS) supports the election of nominees Sidney Fuchs and Wendi Carpenter to Comtech's Board of Directors, urging shareholders to vote on the WHITE proxy card.

ISS criticized Comtech's poor financial performance and questioned the board's commitment to meaningful change. The board's decision to pursue financing options without thorough exploration was flagged. The upcoming vote is set for December 17, 2021, emphasizing the need for independent voices in response to an acquisition offer from Acacia Research Corp (NASDAQ: ACTG).

Comtech Telecommunications Corp. (CMTL) filed a presentation with the SEC addressing false statements made by Outerbridge Capital Management regarding its director nominees. Comtech argues that Outerbridge's nominees lack qualifications and threaten shareholder value. The company's board cites its commitment to long-term value, noting a 126.7% return over five years, surpassing industry benchmarks. A $100 million strategic investment from White Hat Capital Partners is set to enhance Comtech's strategic growth. Shareholders are encouraged to vote for Comtech’s nominees using the blue proxy card.

Comtech Telecommunications Corp. (NASDAQ: CMTL) will announce its first quarter fiscal 2022 results on December 9, 2021. The company provides next-generation 911 emergency systems and secure wireless communication technologies. A live investor conference call is scheduled for 4:30 PM ET on the same day, accessible via the Comtech website or by phone. Forward-looking statements in the release caution that actual results may differ due to risks outlined in SEC filings.

Comtech Telecommunications Corp. appointed Jennie Reilly as Vice President of Human Resources, effective December 13, 2021. This strategic hire aims to enhance the company's HR initiatives as it embarks on significant growth. Reilly brings over 20 years of experience, particularly in leading organizations through transformations. CEO Michael Porcelain emphasized that her leadership will help strengthen Comtech's position in response to accelerating demand in key markets and follow a recent $100 million investment for strategic initiatives.

On December 2, 2021, Comtech Telecommunications Corp. (NASDAQ: CMTL) announced a follow-on order worth $1.2 million for its next-generation Ka-band Solid-State Power Amplifiers (SSPAs), using advanced Gallium Nitride (GaN) technology, for In-Flight Connectivity (IFC) applications. The Falcon 50Ka GaN amplifiers feature tri-band Block Upconverter capabilities and comply with ARINC 791 standards. Comtech's robust portfolio aims to enhance RF amplification for satellite communications across both ground and airborne platforms.