Comtech Q3 net sales $128.1M (-6% YoY); operating loss $3.5M; secures $222M credit facility

COMTECH TELECOMMUNICATIONS CORP /DE/

2024-Q3 EPS reported -$1.21 revenue$414,212,000

Net sales $128.1M vs $136.3M a year ago; GAAP operating loss of $3.5M includes $2.5M CEO transition costs.
Adjusted EBITDA $11.9M (9.3% margin) versus $12.5M (9.2%) a year ago.
Completed refinancing with $60M revolver and $162M term loan maturing 2028.
Awarded Massachusetts NG911 contract: initial value $140M+, potential $250M over 10 years.
Expects Q4 fiscal 2024 net sales and Adjusted EBITDA similar to Q3.

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