Comtech Telecommunications Corp. (NASDAQ:CMTL) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 0.55%.
Comtech Telecommunications Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 48.15% to $0.14 in the quarter versus EPS of $0.27 in the year-earlier quarter.
Revenue: Decreased 24.77% to $74.58 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Comtech Telecommunications Corp. reported adjusted EPS income of $0.14 per share. By that measure, the company beat the mean analyst estimate of $0.11. It missed the average revenue estimate of $77.12 million.
Quoting Management: In commenting on the Company’s second quarter results and updated fiscal 2013 guidance, Fred Kornberg, President and Chief Executive Officer, noted, “Our second quarter results were impacted by a weak global economic environment and the U.S. government’s failure to resolve its budget issues. We believe these issues have resulted in increased uncertainty amongst our global customer base and we have adjusted our guidance accordingly.”
Key Stats (on next page)…