Comtech Q1 net sales $151.9M (+15.9% YoY); bookings $185.6M; guides Q2 net sales +1-3%

COMTECH TELECOMMUNICATIONS CORP /DE/

2024-Q1 EPS reported -$0.11 revenue$151,911,000

Operating income $2.1M vs loss of $9.7M a year ago; adjusted EBITDA $18.4M (12.1% margin) versus $10.7M (8.2%).
Bookings $185.6M (1.22x book-to-bill); backlog $695.9M; revenue visibility ~$1.7B.
Satellite & Space segment net sales $102.4M (+26.6% YoY); Terrestrial & Wireless $49.5M (-1.6% YoY).
Divestiture of high-power amplifier product line closed Nov 7, 2023; net proceeds $32.5M.
Q2 FY2024 guidance: net sales +1-3% sequentially; adjusted EBITDA margin 11-13%; refinancing of credit facility (Oct 2024 maturity) under active discussion.

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 first quarter ended October 31, 2023 results: revenue $151.9 million.

Period: first quarter ended October 31, 2023
Revenue: $151.9 million
Result: reported results

Exact text from the filing

new fiscal year, I’m pleased to report that Comtech continues to deliver on our commitment to growth. Net sales for our first quarter of fiscal 2024 rose 15.9% year-over-year to $151.9 million, and bookings of $185.6 million (as high as they’ve been since I assumed the role of CEO last year) represent a quarterly book-to-bill ratio of 1.22x. Since my arrival at

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Source: SEC EDGAR

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