Comtech Telecommunications Corp. (NASDAQ:CMTL) posted a decrease in profit as revenue declined. Comtech Telecommunications designs, develops, produces, and markets innovative products, systems, and services for advanced communications solutions.

Investing Insights: Steve Jobs Prepares to Deliver a New Catalyst for Apple’s Stock.

Comtech Telecommunications Corp Earnings Cheat Sheet for the Fourth Quarter

Results: Net income for Comtech Telecommunications Corp. fell to $11.9 million (42 cents per share) vs. $13.5 million (43 cents per share) a year earlier. This is a decline of 11.7% from the year earlier quarter.

Revenue: Fell 45.4% to $140.3 million from the year earlier quarter.

Actual vs. Wall St. Expectations: CMTL beat the mean analyst estimate of 36 cents per share. Analysts were expecting revenue of $141.5 million.

Quoting Management: In commenting on the Company’s performance and business outlook, Fred Kornberg, President and Chief Executive Officer, stated, “Despite operating our business under extremely challenging economic conditions, I am pleased that we are were able to report solid results for the fourth quarter.”

Key Stats:

The company has now seen net income fall in each of the last three quarters. In the third quarter, net income fell 34.6% from the year earlier, while the figure fell 1.5% in the second quarter.

The company has now topped analyst estimates for the last three quarters. It beat the mark by 8 cents in the third quarter and by 12 cents in the second quarter.

Revenue has fallen for the past three quarters. In the third quarter, revenue declined 39.4% to $131.1 million while the figure fell 4.9% in the second quarter from the year earlier.

The company’s cost of sales fell 53.3% from a year earlier to $81.4 million. Last quarter, cost of sales was 58% or revenue versus 67.9% a year earlier.

Competitors to Watch: ViaSat, Inc. (NASDAQ:VSAT), Globecomm Systems, Inc. (NASDAQ:GCOM), EMS Technologies, Inc. (NASDAQ:ELMG), Harris Corporation (NYSE:HRS), General Dynamics Corp. (NYSE:GD), CalAmp Corp. (NASDAQ:CAMP), PHAZAR CORP. (NASDAQ:ANTP), Motorola Solutions Inc (NYSE:MSI), KVH Industries, Inc. (NASDAQ:KVHI), and Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC).

Investing Insights: Steve Jobs Prepares to Deliver a New Catalyst for Apple’s Stock.

(Source: Xignite Financials)

Get Your FREE Special Report: 4 Things You Must Know About the US Economy Now!