Comtech Telecommunications Earnings: Revenues Fall, Bringing Down Profit

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: What’s the Future of Microsoft’s Stock?

Comtech Telecommunications Corp Earnings Cheat Sheet for the Third Quarter

Results: Net income for Comtech Telecommunications Corp. fell to $6.1 million (29 cents per share) vs. $14.3 million (47 cents per share) a year earlier. This is a decline of 57.4% from the year-earlier quarter.

Revenue: Fell 23.9% to $99.8 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Comtech Telecommunications Corp. beat the mean analyst estimate of 24 cents per share. It beat the average revenue estimate of $97.8 million.

Quoting Management: In commenting on the Company’s performance and business outlook, Fred Kornberg, President and Chief Executive Officer, stated, “Although market conditions remain challenging, we posted solid results in the third quarter. During the quarter, we achieved our highest level of quarterly bookings in fiscal 2012 and continue to focus on our long-term growth plans.”

Key Stats:

The company has now surpassed analyst estimates for four quarters in a row. It beat the mark by 5 cents in the second quarter, by 12 cents in the first quarter, and by 6 cents in the fourth quarter of the last fiscal year.

Revenue has dropped for four quarters in a row. Revenue declined 39.1% to $99.1 million in the second quarter. The figure fell 36.4% in the first quarter from the year earlier and dropped 45.4% in the fourth quarter of the last fiscal year from the year-ago quarter.

Net income has dropped 43.7% year-over-year on average across the last five quarters. Performance was hurt by a 63.8% decline in the second quarter from the year-earlier quarter.

Looking Forward: For next quarter, analysts have a more positive outlook about the company’s expected results. The average estimate for the fourth quarter is 39 cents per share, up from 32 cents ninety days ago. Over the past three months, the average estimate for the fiscal year has climbed from $1.29 per to share to $1.37.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

Don’t Miss These Additional Hot Stories:

Meet the iPhone 5>>

The Fed Reserve Whispers Sweet Nothings to Gold and Silver>>

Is Facebook FINALLY Undervalued?

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Premium Newsletters

Stock Investor Cheat Sheet

Stock Investor Cheat Sheet®

The ultimate Cheat Sheet for finding winning stock picks.
Learn More

Gold & Silver Newsletter

Gold & Silver

Don't miss one of the biggest bull markets in history! Covers Gold, Silver, Gold & Silver stocks, and miners.
Learn More

Commodities Premium Newsletter

Commodities Premium

There's always a bull market in some sector! Find the best opportunities in commodities.
Learn more

ETF Investing

ETF Investing

At last, a trading system that buys the right ETFs at the right time, time after time!
Learn more

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business