Comtech Q1 FY2025 net loss $148.4M, revenue down 23.8%; CEO Ken Traub appointed, strategic review underway

COMTECH TELECOMMUNICATIONS CORP /DE/

Net loss of $148.4M vs $1.4M loss year ago; revenue $115.8M, down 23.8% YoY.
Operating loss $129.2M includes $79.6M goodwill impairment and $17.4M reserve for receivable.
S&S segment sales fell 42.5%; T&W segment sales up 14.9%.
Company expects to breach debt covenants; total debt ~$225M as of Oct 31, 2024.
Ken Traub named President and CEO; Board conducting comprehensive strategic alternatives review.

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