CMTL

[BigSully1]

Hoping  I can pick this up for around $48 tommorrow(again) maybe in PM with confusion on the ER and outlook. Beat the consensus, my expectations, and then some, and I want it.


Comtech Telecommunications Corp.
68 South Service Road
Suite 230
Melville, NY 11747
United States - Map
Phone: 631-962-7000
Fax: 631-962-7001
Web Site: http://www.comtechtel.com

DETAILS  
Index Membership: S&P 600 SmallCap
S&P 1500 Super Comp
Sector: Technology
Industry: Communication Equipment
Full Time Employees: NaN


BUSINESS SUMMARY  
Comtech Telecommunications Corp. engages in the design, development, production, and marketing of products, systems, and services for communications solutions in the United States and internationally. It operates in three segments: Telecommunications Transmission, Mobile Data Communications, and RF Microwave Amplifiers. The Telecommunications Transmission segment provides satellite earth station equipment and systems, over-the-horizon microwave systems, and forward error correction technology, which are used in various commercial and government applications, including the transmission of voice, video, and data over the Internet; long distance telephony; and in backhaul of cellular traffic using satellites, broadcast, cable, and secure defense applications. The Mobile Data Communications segment provides mobile satellite transceivers, and computers and satellite earth station network gateways and associated installation, training, and maintenance services; and supplies and operates satellite packet data networks, including arranging and providing satellite capacity. The RF Microwave Amplifiers segment designs, develops, manufactures, and markets broadband amplifiers in the microwave and radio frequency spectrums. Its amplifiers are used in defense applications, including telecommunications systems, such as transmitting and boosting signals; and electronic warfare systems, including simulation, radar, jamming, as well as in commercial applications comprising oncology treatment systems and amplify signals carrying voice, video, or data for air-to-satellite-to-ground communications. The company serves satellite systems integrators, wireless and other communication service providers, defense contractors, military customers, manufacturers of copier and data storage products, and oil companies. Comtech markets its products through independent representatives and value-added resellers. The company was founded in 1967 and is headquartered in Melville, New York.
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Comtech Telecommunications Corp. Announces Results for the First Quarter of Fiscal 2008
Wednesday December 5, 4:08 pm ET


MELVILLE, N.Y.--(BUSINESS WIRE)--Comtech Telecommunications Corp. (NASDAQ: CMTL - News) today reported its operating results for the three months ended October 31, 2007. Net sales for the first quarter of fiscal 2008 were $115.1 million compared to $97.1 million in the first quarter of fiscal 2007, reflecting significant growth in both the mobile data communications and RF microwave amplifiers segments, offset by lower net sales in the telecommunications transmission segment.
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GAAP net income was $14.7 million, or $0.54 per diluted share, for the three months ended October 31, 2007 compared to $10.8 million, or $0.41 per diluted share, for the three months ended October 31, 2006. Non-GAAP net income, which excludes the amortization of stock-based compensation expense, was $16.5 million, or $0.59 per diluted share, for the three months ended October 31, 2007 as compared to Non-GAAP net income of $12.1 million, or $0.45 per diluted share, for the three months ended October 31, 2006.

In commenting on the Company's performance during the first quarter of fiscal 2008, Fred Kornberg, President and Chief Executive Officer of Comtech Telecommunications Corp., said, "We are very pleased with our first quarter results and believe they underscore the strength of our businesses. We achieved outstanding results, as evidenced by the strong levels of net income and earnings per share, while significantly increasing our research and development spending."

Mr. Kornberg added, "We intend to continue this ramp up in research and development spending for the balance of the year in order to remain an innovative technology leader in our markets. At the same time, we continue to see increased demand from customers in each of our three business segments that we believe positions us well for another record year in fiscal 2008."

Selected First Quarter Fiscal 2008 Financial Metrics and Other Items


Bookings for the first quarter of fiscal 2008 were $235.0 million compared to $121.4 million in the first quarter of fiscal 2007. Backlog as of October 31, 2007 was a record $248.9 million compared to $129.0 million as of July 31, 2007.
Earnings before interest, taxes, depreciation and amortization (EBITDA) were $23.9 million and $19.2 million for the three months ended October 31, 2007 and 2006, respectively.
Cash used in operating activities for the first quarter of fiscal 2008 was $9.7 million compared to cash used in operating activities of $3.6 million for the first quarter of fiscal 2007, primarily reflecting a significant increase in accounts receivable due to the timing of shipments in the first quarter of fiscal 2008 to our customers (primarily the U.S. government), a buildup of inventory anticipated to be shipped throughout fiscal 2008, payment of fiscal 2007 incentive awards and the net impact of normal changes in other working capital accounts primarily associated with timing.
Conference Call

The Company has scheduled an investor conference call for 8:30 AM (ET) on Thursday, December 6, 2007. Investors and the public are invited to access a live webcast of the conference call from the news section of the Comtech web site at www.comtechtel.com. Alternatively, investors can access the conference call by dialing (800) 862-9098 (domestic) or (785) 424-1051 (international) and using the conference I.D. of "Comtech." A replay of the conference call will be available for seven days by dialing (402) 220-2653. In addition, an updated investor presentation, including earnings guidance, will be available on our web site shortly after the conference call.

About Comtech

Comtech Telecommunications Corp. designs, develops, produces and markets innovative products, systems and services for advanced communications solutions. The Company believes many of its solutions play a vital role in providing or enhancing communication capabilities when terrestrial communications infrastructure is unavailable or ineffective. The Company conducts business through three complementary segments: telecommunications transmission, mobile data communications and RF microwave amplifiers. The Company sells products to a diverse customer base in the global commercial and government communications markets. The Company believes it is a market leader in the market segments that it serves.

Cautionary Statement Regarding Forward-Looking Statements

Certain information in this press release contains forward-looking statements, including but not limited to, information relating to the Company's future performance and financial condition, plans and objectives of the Company's management and the Company's assumptions regarding such future performance, financial condition, plans and objectives that involve certain significant known and unknown risks and uncertainties and other factors not under the Company's control which may cause actual results, future performance and financial condition, and achievement of plans and objectives of the Company's management to be materially different from the results, performance or other expectations implied by these forward-looking statements. These factors include the timing of receipt of, and the Company's performance on, new orders that can cause significant fluctuations in net sales and operating results, the timing and funding of government contracts, adjustments to gross profits on long-term contracts, risks associated with international sales, rapid technological change, evolving industry standards, frequent new product announcements and enhancements, changing customer demands, changes in prevailing economic and political conditions, risks associated with the subpoena from the U.S. Immigration and Customs Enforcement branch of the Department of Homeland Security, and other factors described in the Company's filings with the Securities and Exchange Commission.

   
COMTECH TELECOMMUNICATIONS CORP.

AND SUBSIDIARIES

Condensed Consolidated Statements of Operations

(Unaudited)

   
 Three Months Ended October 31,  
 2007     2006  
Net sales   $  115,055,000    97,070,000  
Cost of sales      64,577,000      57,695,000    
Gross profit      50,478,000      39,375,000    
     
Expenses:      
Selling, general and administrative    20,399,000    16,587,000  
Research and development    11,041,000    7,157,000  
Amortization of intangibles      379,000      649,000    
    31,819,000      24,393,000    
     
Operating income    18,659,000    14,982,000  
     
Other expenses (income):      
Interest expense    677,000    695,000  
Interest income      (4,447,000  )   (3,175,000  )  
     
Income before provision for income taxes    22,429,000    17,462,000  
Provision for income taxes      7,735,000      6,635,000    
Net income   $  14,694,000      10,827,000    
     
Net income per share:      
Basic   $  0.61      0.47    
Diluted   $  0.54      0.41    
     
Weighted average number of common shares outstanding – basic      23,924,000      22,948,000    
     
Weighted average number of common and common equivalent shares outstanding assuming dilution – diluted      28,208,000      27,389,000    
 
COMTECH TELECOMMUNICATIONS CORP.

AND SUBSIDIARIES

Condensed Consolidated Balance Sheets

       
 
 October 31,
2007
 July 31,
2007

Assets   (Unaudited)    
Current assets:      
Cash and cash equivalents   $  333,391,000    342,903,000  
Accounts receivable, net    89,517,000    73,585,000  
Inventories, net    71,685,000    61,987,000  
Prepaid expenses and other current assets    9,946,000    6,734,000  
Deferred tax asset – current      9,616,000      9,380,000    
Total current assets    514,155,000    494,589,000  
     
Property, plant and equipment, net    30,349,000    29,282,000  
Goodwill    24,363,000    24,387,000  
Intangibles with finite lives, net    6,257,000    5,717,000  
Deferred financing costs, net    1,767,000    1,903,000  
Other assets, net      415,000      464,000    
Total assets   $  577,306,000      556,342,000    
     
Liabilities and Stockholders' Equity      
Current liabilities:      
Accounts payable   $  27,928,000    26,137,000  
Accrued expenses and other current liabilities    40,141,000    47,332,000  
Customer advances and deposits    21,620,000    20,056,000  
Current installments of other obligations    137,000    135,000  
Interest payable    525,000    1,050,000  
Income taxes payable – current      3,862,000      2,796,000    
Total current liabilities    94,213,000    97,506,000  
     
Convertible senior notes    105,000,000    105,000,000  
Other obligations, less current installments    73,000    108,000  
Income taxes payable – non-current    2,854,000    -  
Deferred tax liability – non-current      8,184,000      7,960,000    
Total liabilities    210,324,000    210,574,000  
     
Commitments and contingencies      
     
Stockholders' equity:      
Preferred stock, par value $.10 per share; shares authorized and unissued 2,000,000    -    -  
Common stock, par value $.10 per share; authorized 100,000,000 shares, issued 24,236,629 shares and 24,016,329 shares at October 31, 2007 and July 31, 2007, respectively    2,424,000    2,402,000  
Additional paid-in capital    172,201,000    165,703,000  
Retained earnings      192,542,000      177,848,000    
  367,167,000    345,953,000  
Less:      
Treasury stock (210,937) shares      (185,000  )   (185,000  )  
Total stockholders' equity      366,982,000      345,768,000    
Total liabilities and stockholders' equity   $  577,306,000      556,342,000    
 
COMTECH TELECOMMUNICATIONS CORP.

AND SUBSIDIARIES

Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures

(Unaudited)

   
 Three Months Ended October 31,  
 2007     2006  
Reconciliation of Non-GAAP Net Income To GAAP Net Income(1):
   
Non-GAAP net income   $  16,472,000    12,142,000  
Amortization of stock-based compensation    (2,719,000  )   (1,810,000  )  
Tax effect of stock-based compensation expense      941,000      495,000    
GAAP net income   $  14,694,000      10,827,000    
     
Reconciliation of Non-GAAP Diluted Earnings Per Share To GAAP Diluted Earnings Per Share(1):
   
Non-GAAP diluted earnings per share   $  0.59    0.45  
Amortization of stock-based compensation    (0.08  )   (0.06  )  
Tax effect of stock-based compensation expense      0.03      0.02    
GAAP diluted earnings per share   $  0.54      0.41    
     
Reconciliation of GAAP Net Income to EBITDA(2):      
GAAP net income   $  14,694,000    10,827,000  
Income taxes    7,735,000    6,635,000  
Net interest income    (3,770,000  )   (2,480,000  )  
Amortization of stock-based compensation    2,719,000    1,810,000  
Depreciation and amortization      2,491,000      2,417,000    
EBITDA   $  23,869,000      19,209,000    


(1) Non-GAAP net income is used by management in assessing the Company's operating results. The Company believes that investors and analysts may use non-GAAP measures that exclude the amortization of stock-based compensation, along with other information contained in its SEC filings, in assessing the Company's operating results.

(2) Represents earnings before interest, income taxes, depreciation and amortization of intangibles and stock-based compensation. EBITDA is a non-GAAP operating metric used by management in assessing the Company's operating results and ability to meet debt service requirements. The Company's definition of EBITDA may differ from the definition of EBITDA used by other companies and may not be comparable to similarly titled measures used by other companies. EBITDA is also a measure frequently requested by the Company's investors and analysts. The Company believes that investors and analysts may use EBITDA, along with other information contained in its SEC filings, in assessing its ability to generate cash flow and service

Contact:
Comtech Telecommunications Corp.
Robert G. Rouse,
Executive Vice President and Chief Operating Officer
or
Jerome Kapelus,
Senior Vice President, Strategy and Business Development
631-962-7000
[email protected]
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http://stockcharts.com/h-sc/ui?s=CMTL&p=D&b=5&g=0&id=p19505435248

[BigSully1]

My buy at $47.68 Thurs. looks pretty good now. As I thought, the confusion created a good  buying opp.

[BigSully1]

Comtech Telecommunications Corp. Receives an Order for $4.9 Million to Supply Additional AN/TRC-170 Modem Upgrade Kits to the U.S. Army
Thursday December 6, 8:15 am ET


MELVILLE, N.Y.--(BUSINESS WIRE)--Comtech Telecommunications Corp. (Nasdaq: CMTL - News) announced today that its Orlando, Florida-based subsidiary, Comtech Systems, Inc., has received a $4.9 million order for additional AN/TRC-170 modem upgrade kits from a major U.S. contractor under the U. S. Army Common Hardware Software-3 (CHS-3) Contract.
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These additional state-of-the-art modem upgrade kits will be used by the U.S. Army to upgrade its AN/ TRC-170 troposcatter terminals to 16 MB/s and include Comtech's patented Turbo Product Code forward error correction technology. In addition to providing the highest level of proven performance achieved on troposcatter links to date, the modems also include automatic power control, which allows for lower transmitted power when communication channel conditions permit, reducing the risk of unfriendly intercept and interference with other communications. Operators can select data rates from 2 MB/s to 16 MB/s from the front panel of the modem. The increased capability of the upgraded AN/TRC-170 terminals reduces the dependence on satellite communications in areas of conflict.

Recent field exercises using the AN/TRC-170s upgraded with Comtech Systems' advanced troposcatter modems have shown data throughputs and quality of service never before achieved in the AN/TRC-170.

Fred Kornberg, President and Chief Executive Officer of Comtech Telecommunications Corp., said, "We are extremely pleased by this award from the U.S. Army for additional modem upgrade kits. Once again our industry-leading and field-proven troposcatter modem technology was the key to success in receiving this award."

Comtech Systems, Inc. (www.comtechsystems.com) specializes in system design, integration, supply and commissioning of turnkey communication systems including over-the-horizon microwave, line-of-sight microwave and satellite.

Comtech Telecommunications Corp. designs, develops, produces and markets innovative products, systems and services for advanced communications solutions. The Company believes many of its solutions play a vital role in providing or enhancing communication capabilities when terrestrial communications infrastructure is unavailable or ineffective. The Company conducts business through three complementary segments: telecommunications transmission, mobile data communications and RF microwave amplifiers. The Company sells products to a diverse customer base in the global commercial and government communications markets. The Company believes it is a market leader in the market segments that it serves.

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
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[BigSully1]

Comtech Telecommunications Corp. Announces Receipt of Defense Transportation Tracking System (DTTS) Certification for Tracking and Monitoring Hazardous Cargo Shipments
Thursday December 13, 8:00 am ET


MELVILLE, N.Y.--(BUSINESS WIRE)--Comtech Telecommunications Corp. (NASDAQ:CMTL - News) announced today that its Maryland-based subsidiary, Comtech Mobile Datacom Corporation (CMDC), received certification from the Department of the Army, Military Surface Deployment and Distribution Command (SDDC), Defense Transportation Tracking System (DTTS) Program Office, to track and monitor hazardous cargo shipments, including Arms, Ammunition & Explosives (AA&E) and other sensitive items, being transported by commercial carriers. CMDC is only the second company since the start of the DTTS program to receive this certification, which is based on the use of CMDC's L-Band satellite network infrastructure, mobile satellite transceivers, and DTTS application software.
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CMDC's current DTTS product offering features its MT-2011 L-band mobile satellite transceiver, as well as its geoOpsTM based tracking, messaging, and emergency notification software application, integrated with a rugged in-cab computer. The system provides secure, near real-time, mobile data communications capabilities that meet the demanding tracking and communication requirements for commercial and government shippers handling hazardous cargo.

CMDC's mobile satellite transceivers, global satellite network, and application software are currently used by key military and government programs including the U.S. Army's Movement Tracking System (MTS) and Force XXI Battle Command Brigade and Below - Blue Force Tracking (FBCB2-BFT) programs, the North Atlantic Treaty Organization's (NATO's) International Force Tracking System (IFTS), the U.S. Army National Guard, and the National Guard's Civil Support Teams (CSTs). To date, CMDC has shipped over 70,000 mobile satellite transceivers to its military and government customers.

Fred Kornberg, President and Chief Executive Officer of Comtech Telecommunications Corp., said, "We are extremely pleased to have received DTTS certification. This significant milestone allows CMDC to leverage its expertise in secure mobile communications, and successfully take its satellite network, field-proven MT-2011 mobile satellite transceivers, and future product offerings into new market segments serving military, government, and commercial customers."

Comtech Mobile Datacom Corporation, a Germantown, Maryland-based company, is engaged in the provision of satellite-based packet data communication systems and location and messaging services through the use of advanced communication and network technology. To learn more about Comtech Mobile Datacom, please visit the company's website at www.comtechmobile.com.

Comtech Telecommunications Corp. designs, develops, produces and markets innovative products, systems and services for advanced communications solutions. The Company believes many of its solutions play a vital role in providing or enhancing communication capabilities when terrestrial communications infrastructure is unavailable or ineffective. The Company conducts business through three complementary segments: telecommunications transmission, mobile data communications and RF microwave amplifiers. The Company sells products to a diverse customer base in the global commercial and government communications markets. The Company believes it is a market leader in the market segments that it serves.

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

[BigSully1]

Comtech Telecommunications Corp. Receives $3.4 Million Contract for High Power Amplifier Systems
Wednesday December 19, 8:00 am ET


MELVILLE, N.Y.--(BUSINESS WIRE)--Comtech Telecommunications Corp. (Nasdaq: CMTL - News) announced today that its New York-based subsidiary, Comtech PST Corp., has received a $3.4 million contract for broadband, high power RF microwave amplifier systems from a prime U.S. defense contractor.
ADVERTISEMENT


The systems, which utilize the latest in solid state technology, provide for very broad frequency coverage and are used as a major subsystem in a conventional ground mobile jammer.

Fred Kornberg, President and Chief Executive Officer of Comtech Telecommunications Corp., said, "This award continues to highlight Comtech PST's industry-leading position as a supplier of broadband, high power amplifier systems for communications jamming applications. The demanding nature of these applications requires the high quality and innovative design of Comtech's amplifier products, and is yet another example of how Comtech's products assist the U.S. military in fulfilling mission critical requirements."

Comtech PST Corp. (www.comtechpst.com) is a leading independent supplier of broadband high power, high performance RF microwave amplifiers for use in a broad spectrum of applications including defense, high power instrumentation, medical and satellite communications systems.

Comtech Telecommunications Corp. designs, develops, produces and markets innovative products, systems and services for advanced communications solutions. The Company believes many of its solutions play a vital role in providing or enhancing communication capabilities when terrestrial communications infrastructure is unavailable or ineffective. The Company conducts business through three complementary segments: telecommunications transmission, mobile data communications and RF microwave amplifiers. The Company sells products to a diverse customer base in the global commercial and government communications markets. The Company believes it is a market leader in the market segments that it serves.

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

[bjc]

Work it Sully.  You've been bringing the heat.

I saw MTW and FLS in the first IBD I finally got today.  I think MTW is toward the bottom of the 100 and FLS was mentioned as one of the nyse stocks of the week or something. 

I still like both of those stocks and I'm really starting to wonder why I sold FLS.  I'm going to have to get long it somehow. 

[BigSully1]

Work it Sully.  You've been bringing the heat.

I saw MTW and FLS in the first IBD I finally got today.  I think MTW is toward the bottom of the 100 and FLS was mentioned as one of the nyse stocks of the week or something. 

I still like both of those stocks and I'm really starting to wonder why I sold FLS.  I'm going to have to get long it somehow. 

Yeah, I hadn't checked them for awhile and I see MTW made it as #100 along with a whole lot of other new ones. Good deal. Hope you enjoy your IBD.

[BigSully1]

Comtech Telecommunications Corp. Receives $17.7 Million in Orders for Satellite Communications and Professional Support Services
Thursday January 3, 8:00 am ET


MELVILLE, N.Y.--(BUSINESS WIRE)--Comtech Telecommunications Corp. (NASDAQ: CMTL - News) announced today that its Maryland-based subsidiary, Comtech Mobile Datacom Corporation, received orders totaling $17.7 million under its IDIQ contract with the U.S. Army Communications Electronics Command (CECOM).
ADVERTISEMENT


Under the terms of this contract with CECOM, Comtech provides mobile satellite transceivers, satellite bandwidth, satellite network operations, engineering services and program management to the Force XXI Battle Command Brigade and Below – Blue Force Tracking (FBCB2-BFT) program, a battle command real-time situational awareness and control system. These current orders are for the supply of satellite bandwidth, software licenses, and related professional support services, with all work expected to be completed by June 30, 2008.

Fred Kornberg, President and Chief Executive Officer of Comtech Telecommunications Corp., said, "We are pleased to receive these recent orders, and look forward to continuing our support of this critical program and the soldiers that rely on the FBCB2-BFT system."

Comtech Mobile Datacom Corporation, a Germantown, Maryland-based company, is engaged in the provision of satellite-based packet data communication systems and location and messaging services. To learn more about Comtech Mobile Datacom, please visit the company's website at www.comtechmobile.com.

[BigSully1]

8:00AM Comtech Telecom receives $3.9 million contract for high power amplifiers (CMTL) 51.25 : Co announces that its New York-based subsidiary, Comtech PST, has received a $3.9 mln contract from Raytheon (RTN) for the production of the Integrated Radio Frequency Assembly used in the Enhanced Position Location Reporting System UHF radio.

[BigSully1]

Comtech Telecommunications Corp. Receives $23.4 Million Blue Force Tracking Order for Its Mobile Ground Satellite Data Communications Transceivers
Wednesday January 9, 8:00 am ET


MELVILLE, N.Y.--(BUSINESS WIRE)--Comtech Telecommunications Corp. (NASDAQ: CMTL - News) announced today that its Maryland-based subsidiary, Comtech Mobile Datacom Corporation, received an order totaling $23.4 million under its IDIQ contract with the U.S. Army Communications Electronics Command (CECOM).
ADVERTISEMENT


Under the order with the U.S. Army Communications Electronics Command (CECOM), Comtech will supply its Model MT-2011F Mobile Satellite Data Transceivers to the Force XXI Battle Command Brigade and Below – Blue Force Tracking (FBCB2-BFT) program, a battle command real-time situational awareness and control system.

Fred Kornberg, President and Chief Executive Officer of Comtech Telecommunications Corp., said, "We are extremely pleased to receive this new order from our Blue Force Tracking customer for further deployment of our enhanced satellite transceiver model – the MT 2011F. The continuing strong customer demand for this and other products provided by Comtech Mobile Datacom, further demonstrates the critical role our technology plays in this important program".

Comtech Mobile Datacom Corporation, a Germantown, Maryland-based company, is engaged in the provision of satellite-based packet data communication systems and location and messaging services. To learn more about Comtech Mobile Datacom, please visit the company's website at www.comtechmobile.com.

Comtech Telecommunications Corp. designs, develops, produces and markets innovative products, systems and services for advanced communications solutions. The Company believes many of its solutions play a vital role in providing or enhancing communication capabilities when terrestrial communications infrastructure is unavailable or ineffective. The Company conducts business through three complementary segments: telecommunications transmission, mobile data communications and RF microwave amplifiers. The Company sells products to a diverse customer base in the global commercial and government communications markets. The Company believes it is a market leader in the market segments that it serves.

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.

[BigSully1]

latest contracts. Keep em coming!
--------------------


Comtech Telecommunications Corp. Receives $6.7 Million of Movement Tracking System Orders
Wednesday January 16, 8:00 am ET


MELVILLE, N.Y.--(BUSINESS WIRE)--Comtech Telecommunications Corp. (NASDAQ: CMTL - News) announced today that its Maryland-based subsidiary, Comtech Mobile Datacom Corporation, received orders totaling $6.7 million under its Movement Tracking System, or MTS contract, with the U.S. Army.
ADVERTISEMENT


The orders are for the supply of MTS systems which feature Comtech's Model MT-2012 mobile satellite transceivers integrated with both ruggedized and control station computers, miscellaneous hardware, installation kits, program management, and technical support services. Comtech's Model MT-2012 Transceiver features Savi Technology's ISO-compliant EchoPoint RFID Reader, as well as secure Global Positioning System (GPS) capabilities. The orders are in support of ongoing MTS program activities in the United States and abroad.

Fred Kornberg, President and Chief Executive Officer of Comtech Telecommunications Corp., said, "We are pleased to have received these most recent MTS orders. We look forward to our continued involvement in the MTS Program and the continued deployment of our satellite products and related technology."

Comtech Mobile Datacom Corporation, a Germantown, Maryland-based company, is engaged in the provision of satellite-based packet data communication systems and location and messaging services through the use of advanced communication and network technology. To learn more about Comtech Mobile Datacom, please visit the company's website at www.comtechmobile.com.

Comtech Telecommunications Corp. designs, develops, produces and markets innovative products, systems and services for advanced communications solutions. The Company believes many of its solutions play a vital role in providing or enhancing communication capabilities when terrestrial communications infrastructure is unavailable or ineffective. The Company conducts business through three complementary segments: telecommunications transmission, mobile data communications and RF microwave amplifiers. The Company sells products to a diverse customer base in the global commercial and government communications markets. The Company believes it is a market leader in the market segments that it serves.

Savi Technology is a leading provider of supply chain management and security solutions leveraging software and Automatic Identification and Data Collection (AIDC) technologies, including Radio Frequency Identification (RFID). Savi Technology is a wholly owned subsidiary of Lockheed Martin Corporation (NYSE: LMT - News).
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Comtech Telecommunications Corp Awarded $6.9 Million of Orders for High Power Amplifiers and Switches
Tuesday January 22, 8:00 am ET


MELVILLE, N.Y.--(BUSINESS WIRE)--Comtech Telecommunications Corp. (NASDAQ: CMTL - News) announced today that its Melville, New York-based subsidiary, Comtech PST Corp., has received $6.9 million of orders from a domestic prime contractor to supply broadband, solid state, high power radio signal jamming amplifiers and switches.
ADVERTISEMENT


These amplifiers and switches, which include the latest solid state transistor technology and provide for very broad frequency coverage, are key components in jamming systems manufactured by our customer.

Fred Kornberg, President and Chief Executive Officer of Comtech Telecommunications Corp., said, "We are proud of our RF microwave amplifier segment's continuing success and recognition as a premier supplier of solid state, high power amplifiers and switches to the electronic warfare marketplace."

Comtech PST Corp. (www.comtechpst.com) is a leading independent supplier of broadband, high power, high performance RF microwave amplifiers for use in a broad spectrum of applications including defense, medical, satellite communications systems and instrumentation.

Comtech Telecommunications Corp. designs, develops, produces and markets innovative products, systems and services for advanced communications solutions. The Company believes many of its solutions play a vital role in providing or enhancing communication capabilities when terrestrial communications infrastructure is unavailable or ineffective. The Company conducts business through three complementary segments: telecommunications transmission, mobile data communications and RF microwave amplifiers. The Company sells products to a diverse customer base in the global commercial and government communications markets. The Company believes it is a market leader in the market segments that it serves.
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Comtech Telecommunications Corp. Awarded $2.1 Million Contract for Communications Jamming High Power Amplifier Systems
Thursday January 24, 8:00 am ET


MELVILLE, N.Y.--(BUSINESS WIRE)--Comtech Telecommunications Corp. (Nasdaq: CMTL - News) announced today that its New York-based subsidiary, Comtech PST Corp., has received a $2.1 million contract for broadband, solid state, high power RF microwave amplifier systems from a major international OEM.
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The amplifier systems, which include the latest solid state switching and transistor technology and provide for very broad frequency coverage, will be utilized as part of communications jamming systems supplied to an international end user.

In commenting on this contract award, Fred Kornberg, President and Chief Executive Officer of Comtech Telecommunications Corp., said, "Our technology leadership position, specifically in communications jamming technology, in the high power, broadband amplifier area has enabled us to participate in various major electronic warfare application programs in both the domestic and international markets. This contract is another validation of the performance and reliability of this state-of-the-art product line."
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[BigSully1]

They just keep on keeping on! Beat estimates top and bottom again as usual.

Comtech Telecommunications Corp. Announces Results for the Second Quarter of Fiscal 2008
Wednesday March 5, 4:07 pm ET


MELVILLE, N.Y.--(BUSINESS WIRE)--Comtech Telecommunications Corp. (NASDAQ: CMTL - News) today reported its operating results for the three months ended January 31, 2008. Net sales for the second quarter of fiscal 2008 were $152.0 million compared to $111.4 million in the second quarter of fiscal 2007, reflecting significant growth in the mobile data communications and RF microwave amplifiers segments, partially offset by lower net sales in the telecommunications transmission segment.
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GAAP net income was $25.5 million, or $0.91 per diluted share, for the three months ended January 31, 2008 compared to $18.2 million, or $0.68 per diluted share, for the three months ended January 31, 2007. Non-GAAP net income, which excludes the amortization of stock-based compensation expense, was $27.1 million, or $0.96 per diluted share, for the three months ended January 31, 2008 as compared to Non-GAAP net income of $19.1 million, or $0.70 per diluted share, for the three months ended January 31, 2007.

Net sales for the six months ended January 31, 2008 were $267.1 million compared to $208.5 million for the six months ended January 31, 2007. GAAP net income was $40.2 million, or $1.45 per diluted share, for the six months ended January 31, 2008 compared to $29.0 million, or $1.09 per diluted share, for the six months ended January 31, 2007. Non-GAAP net income, which excludes the amortization of stock-based compensation expense, was $43.6 million, or $1.56 per diluted share, for the six months ended January 31, 2008 as compared to Non-GAAP net income of $31.3 million, or $1.15 per diluted share, for the six months ended January 31, 2007.

In commenting on the Company's performance during the second quarter of fiscal 2008, Fred Kornberg, President and Chief Executive Officer of Comtech Telecommunications Corp., said, "I am pleased to announce the strongest quarterly performance in our Company's history. We achieved record quarterly revenues and earnings per share."

Mr. Kornberg added, "Based on our outstanding results for the first half of the year, we are confident that fiscal 2008 will be another record year."

Selected Second Quarter Fiscal 2008 Financial Metrics and Other Items


Bookings for the three and six months ended January 31, 2008 were $122.3 million and $357.3 million, respectively, compared to $104.5 million and $226.0 million for the three and six months ended January 31, 2007, respectively. Backlog as of January 31, 2008 was $219.2 million compared to $129.0 million as of July 31, 2007.
Earnings before interest, taxes, depreciation and amortization (EBITDA) were $40.7 million and $64.6 million for the three and six months ended January 31, 2008, respectively, versus $27.3 million and $46.5 million for the three and six months ended January 31, 2007, respectively.
Cash used in operating activities for the first six months of fiscal 2008 was $1.0 million, primarily reflecting an increase in working capital requirements associated with the significant increase in sales activity across the Company. The increase in working capital requirements (primarily for accounts receivable and inventory) was driven by the timing of shipments and the related collection of cash from customers, as well as the necessary investments in inventory in support of current backlog that is expected to be recognized as revenue during the second half of fiscal 2008.
Conference Call

The Company has scheduled an investor conference call for 8:30 AM (ET) on Thursday, March 6, 2008. Investors and the public are invited to access a live webcast of the conference call from the news section of the Comtech web site at www.comtechtel.com. Alternatively, investors can access the conference call by dialing (800) 862-9098 (domestic) or (785) 424-1051 (international) and using the conference I.D. of "Comtech." A replay of the conference call will be available for seven days by dialing (402) 530-9027. In addition, an updated investor presentation, including earnings guidance, will be available on our web site shortly after the conference call.

About Comtech

Comtech Telecommunications Corp. designs, develops, produces and markets innovative products, systems and services for advanced communications solutions. The Company believes many of its solutions play a vital role in providing or enhancing communication capabilities when terrestrial communications infrastructure is unavailable or ineffective. The Company conducts business through three complementary segments: telecommunications transmission, mobile data communications and RF microwave amplifiers. The Company sells products to a diverse customer base in the global commercial and government communications markets. The Company believes it is a leader in the market segments that it serves.

Cautionary Statement Regarding Forward-Looking Statements

Certain information in this press release contains forward-looking statements, including but not limited to, information relating to the Company's future performance and financial condition, plans and objectives of the Company's management and the Company's assumptions regarding such future performance, financial condition, plans and objectives that involve certain significant known and unknown risks and uncertainties and other factors not under the Company's control which may cause actual results, future performance and financial condition, and achievement of plans and objectives of the Company's management to be materially different from the results, performance or other expectations implied by these forward-looking statements. These factors include the timing of receipt of, and the Company's performance on, new orders that can cause significant fluctuations in net sales and operating results, the timing and funding of government contracts, adjustments to gross profits on long-term contracts, risks associated with international sales, rapid technological change, evolving industry standards, frequent new product announcements and enhancements, changing customer demands, changes in prevailing economic and political conditions, risks associated with the subpoena from the U.S. Immigration and Customs Enforcement branch of the Department of Homeland Security, and other factors described in the Company's filings with the Securities and Exchange Commission.

         
COMTECH TELECOMMUNICATIONS CORP.

AND SUBSIDIARIES

Condensed Consolidated Statements of Operations

(Unaudited)

       
Three months ended

January 31,
  Six months ended

January 31,

2008     2007   2008   2007 
         
Net sales  $  152,030,000    111,383,000    267,085,000    208,453,000   
Cost of sales     85,705,000      61,533,000      150,282,000      119,228,000     
Gross profit     66,325,000      49,850,000      116,803,000      89,225,000     
         
Expenses:         
Selling, general and administrative   21,304,000    18,257,000    41,703,000    34,844,000   
Research and development   9,140,000    7,616,000    20,181,000    14,773,000   
Amortization of intangibles     434,000      679,000      813,000      1,328,000     
    30,878,000      26,552,000      62,697,000      50,945,000     
         
Operating income   35,447,000    23,298,000    54,106,000    38,280,000   
         
Other expense (income):         
Interest expense   670,000    672,000    1,347,000    1,367,000   
Interest income and other     (4,095,000  )   (3,315,000  )   (8,542,000  )   (6,490,000  ) 
         
Income before provision for income taxes   38,872,000    25,941,000    61,301,000    43,403,000   
Provision for income taxes     13,403,000      7,770,000      21,138,000      14,405,000     
Net income  $  25,469,000      18,171,000      40,163,000      28,998,000     
         
Net income per share:         
Basic  $  1.06      0.79      1.67      1.26     
Diluted  $  0.91      0.68      1.45      1.09     
         
Weighted average number of common shares outstanding – basic     24,099,000      23,095,000      24,012,000      23,022,000     
         
Weighted average number of common and common equivalent shares outstanding assuming dilution – diluted     28,303,000      27,491,000      28,256,000      27,440,000     
     
COMTECH TELECOMMUNICATIONS CORP.

AND SUBSIDIARIES

Condensed Consolidated Balance Sheets

     
 
January 31, 2008   July 31,
2007

Assets  (Unaudited)   
Current assets:     
Cash and cash equivalents  $  340,938,000    342,903,000   
Accounts receivable, net   112,376,000    73,585,000   
Inventories, net   77,743,000    61,987,000   
Prepaid expenses and other current assets   7,246,000    6,734,000   
Deferred tax asset – current     9,657,000      9,380,000     
Total current assets   547,960,000    494,589,000   
     
Property, plant and equipment, net   31,297,000    29,282,000   
Goodwill   24,363,000    24,387,000   
Intangibles with finite lives, net   5,823,000    5,717,000   
Deferred financing costs, net   1,630,000    1,903,000   
Other assets, net     395,000      464,000     
Total assets  $  611,468,000      556,342,000     
     
Liabilities and Stockholders' Equity     
Current liabilities:     
Accounts payable  $  27,920,000    26,137,000   
Accrued expenses and other current liabilities   43,142,000    47,332,000   
Customer advances and deposits   24,066,000    20,056,000   
Current installments of other obligations   140,000    135,000   
Interest payable   1,050,000    1,050,000   
Income taxes payable – current     1,819,000      2,796,000     
Total current liabilities   98,137,000    97,506,000   
     
Convertible senior notes   105,000,000    105,000,000   
Other obligations, less current installments   37,000    108,000   
Income taxes payable – non-current   3,018,000    -   
Deferred tax liability – non-current     8,140,000      7,960,000     
Total liabilities   214,332,000    210,574,000   
     
Commitments and contingencies     
     
Stockholders' equity:     
Preferred stock, par value $.10 per share; shares authorized and unissued 2,000,000   -    -   
Common stock, par value $.10 per share; authorized 100,000,000 shares; issued 24,424,127 shares and 24,016,329 shares at January 31, 2008 and July 31, 2007, respectively   2,442,000    2,402,000   
Additional paid-in capital   176,868,000    165,703,000   
Retained earnings     218,011,000      177,848,000     
  397,321,000    345,953,000   
Less:     
Treasury stock (210,937) shares     (185,000  )   (185,000  ) 
Total stockholders' equity     397,136,000      345,768,000     
Total liabilities and stockholders' equity  $  611,468,000      556,342,000     
   
COMTECH TELECOMMUNICATIONS CORP.

AND SUBSIDIARIES

Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures

(Unaudited)

     
Three Months Ended
January 31,
  Six Months Ended
January 31,

2008     2007   2008     2007 
Reconciliation of Non-GAAP Net Income To GAAP Net Income(1):         
Non-GAAP net income  $  27,133,000    19,129,000    43,605,000    31,271,000   
Amortization of stock-based compensation   (2,552,000  )   (1,537,000  )   (5,271,000  )   (3,347,000  ) 
Tax effect of stock-based compensation expense     888,000      579,000      1,829,000      1,074,000     
GAAP net income  $  25,469,000      18,171,000      40,163,000      28,998,000     
         
Reconciliation of Non-GAAP Diluted Earnings Per Share To GAAP Diluted Earnings Per Share(1):         
Non-GAAP diluted earnings per share  $  0.96    0.70    1.56    1.15   
Amortization of stock-based compensation   (0.08  )   (0.04  )   (0.16  )   (0.10  ) 
Tax effect of stock-based compensation expense     0.03      0.02      0.05      0.04     
GAAP diluted earnings per share  $  0.91      0.68      1.45      1.09     
         
Reconciliation of GAAP Net Income to EBITDA(2):         
GAAP net income  $  25,469,000    18,171,000    40,163,000    28,998,000   
Income taxes   13,403,000    7,770,000    21,138,000    14,405,000   
Net interest income and other   (3,425,000  )   (2,643,000  )   (7,195,000  )   (5,123,000  ) 
Amortization of stock-based compensation   2,552,000    1,537,000    5,271,000    3,347,000   
Depreciation and amortization     2,693,000      2,469,000      5,184,000      4,886,000     
EBITDA  $  40,692,000      27,304,000      64,561,000      46,513,000     
(1)
Non-GAAP net income is used by management in assessing the Company's operating results. The Company believes that investors and analysts may use non-GAAP measures that exclude the amortization of stock-based compensation, along with other information contained in its SEC filings, in assessing the Company's operating results. 
   
(2)
Represents earnings before interest, income taxes, depreciation and amortization of intangibles and stock-based compensation. EBITDA is a non-GAAP operating metric used by management in assessing the Company's operating results and ability to meet debt service requirements. The Company's definition of EBITDA may differ from the definition of EBITDA used by other companies and may not be comparable to similarly titled measures used by other companies. EBITDA is also a measure frequently requested by the Company's investors and analysts. The Company believes that investors and analysts may use EBITDA, along with other information contained in its SEC filings, in assessing its ability to generate cash flow and service debt.