Comtech Q2 revenue $133.7M (+11% YoY), suspends dividend; Q3 guidance 1-3% sequential growth

COMTECH TELECOMMUNICATIONS CORP /DE/

2023-Q2 EPS reported -$0.69 revenue$264,864,000

Q2 revenues $133.7M, up 11% YoY and 2% sequentially; fifth consecutive quarterly increase.
Adjusted EBITDA $11.3M (8.5% margin) vs $9.8M (8.1%) YoY; gross margin fell to 34.3% from 38.1%.
Funded backlog $702M, up 14.9% YoY; bookings $167.5M, book-to-bill 1.25x.
Q3 guidance: net sales +1-3% sequentially, Adj EBITDA margin 8.5%-10.0%.
Board suspends common stock dividend to increase financial flexibility.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

COMTECH TELECOMMUNICATIONS CORP /DE/ reported second quarter ended January 31, 2023 results: revenue $133.7 MM. Guidance reaffirmed.

Period: second quarter ended January 31, 2023
Revenue: $133.7 MM
Guidance: reaffirmed
Result: reported results

Exact text from the filing

play a major role in advancing the conditions necessary for digital equity around the world. SECOND QUARTER: Fiscal Year 2023 6 FISCAL Q2 2023 RESULTS CONSOLIDATED RESULTS $133.7 MM Revenues 34.3% Gross Margin $11.3 MM Adj. EBITDA $167.5 MM Bookings $702 MM OF FUNDED BACKLOG PROVIDES ADDED VISIBILITY TO FUTURE REVENUES. SECOND QUARTER: Fiscal Year 2023 7

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Source: SEC EDGAR

accession 0000023197-23-000020

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