Summary

Comtech Telecommunications Lowers Guidance

Comtech Telecom (CMTL) reported a 2nd Quarter January 2022 loss of $0.03 per share on revenue of $120.4 million. The consensus estimate was a loss of $0.14 per share on revenue of $125.2 million. Revenue fell 25.4% compared to the same quarter a year ago.

The company said in its shareholders letter it expects fiscal 2022 revenue of approximately $520.0 million. The company's previous guidance was revenue of $580.0 million to $600.0 million and the current consensus revenue estimate is $578.56 million for the year ending July 31, 2022.

Comtech Telecommunications Corp is engaged in designing, developing, producing and marketing products, systems and services for advanced communications solutions.

Earnings Release

Comtech Telecommunications Corp. Announces Results for its Second Quarter of Fiscal 2022 and Updates Fiscal 2022 Financial Targets

MELVILLE, N.Y.--(BUSINESS WIRE)--

March 10, 2022 -- Comtech Telecommunications Corp. (NASDAQ: CMTL), a leading global provider of next-generation 911 emergency systems and secure wireless communications technologies, today announced its second quarter fiscal 2022 financial results and updated its fiscal 2022 financial targets.

Comtech announced results and updated financial targets in a new investment letter format that it intends to use for quarterly communications. The letter is designed to provide a simplified discussion of performance, strategic progress, and growth plans. Investors are invited to access the second quarter fiscal 2022 shareholder letter at its web site at www.comtechtel.com or at its new web site which can be previewed at www.comtech.com. 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 4:30PM ET today that is intended to be briefer but provide more time for questions and discussion. Individuals can access the conference call by dialing (800) 895-3361 (domestic) or (785) 424-1062 (international) and using the conference I.D. of “Comtech.” A replay of the conference call will be available for seven days by dialing (800) 839-2475 or (402) 220-7220. A live webcast of the call is also available at www.comtechtel.com and www.comtech.com.

Comtech Telecommunications Corp. is a leading global provider of next-generation 911 emergency systems and secure wireless communications technologies to commercial and government customers around the world. Headquartered in Melville, New York and with a passion for customer success, Comtech designs, produces and markets advanced and secure wireless solutions. For more information, please visit www.comtechtel.com (and preview its new web site coming soon at 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/20220310005849/en/

Comtech Investor Relations:
631-962-7005
investors@comtech.com

Source: Comtech Telecommunications Corp.