Comtech: Fiscal 1Q Earnings Snapshot
MELVILLE, N.Y. (AP) _ Comtech Telecommunications Corp. (CMTL) on Thursday reported fiscal first-quarter net income of $3.5 million, after reporting a loss in the same period a year earlier.
The Melville, New York-based company said it had net income of 14 cents per share. Earnings, adjusted for non-recurring costs, came to 22 cents per share.
The communications company posted revenue of $160.8 million in the period, topping Street forecasts. Three analysts surveyed by Zacks expected $127.4 million.
Comtech expects full-year earnings to be 95 cents to $1.08 per share, with revenue in the range of $625 million to $640 million.
Comtech shares have increased 15 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $25.40, a climb of 22 percent in the last 12 months.