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March 12, 2009

Comtech Telecommunications Q2 net income down

Reported Net sales of $143.9m compared to $152m for the second quarter of fiscal 2008

By CBR Staff Writer

Comtech Telecommunications has reported a net income of $12.8m, or $0.46 per diluted share, for the second quarter of fiscal 2009, ended January 31, 2009, compared to a net income of $25.5m, or $0.91 per diluted share, for the same period in fiscal 2008.

Net sales for the second quarter of fiscal 2009 were $143.9m, compared to $152m for the second quarter of fiscal 2008.

For the six months ended January 31, 2009, net income was $35.2m, or $1.26 per diluted share, compared to $40.2m, or $1.45 per diluted share, for the same period in 2008.

Net sales for the six months ended January 31, 2009 were $335.8m, compared to $267.1m for the same period in 2008.

Fred Kornberg, president and CEO of Comtech Telecommunications, said: Despite difficult market conditions, our second quarter results were in-line with our expectations. We continue to benefit from our strong leadership positions in the markets we serve, the differentiated and compelling value of our products, and the benefits we are generating from the Radyne acquisition.

Although business conditions are much more challenging than they were just a few months ago, we believe our overall business momentum will continue and drive growth into fiscal 2010.

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