Comtech Telecom (CMTL) Reports Q1 EPS of $0.32, Updates Guidance

Comtech Telecom (NASDAQ: CMTL) reported Q1 EPS of $0.32, versus $0.29 reported last year. Revenue for the quarter came in at $76.4 million versus the consensus estimate of $78.84 million.

Comtech Telecom sees FY2014 revenue of $355-365 million, versus the consensus of $359.67 million.

Despite incurring $0.6 million of expenses associated with the Company's strategic alternatives analysis, the Company is maintaining its GAAP diluted earnings per share guidance range of $1.70 to $1.86. The Company is also maintaining its adjusted EBITDA (as defined in the below table) guidance which is expected to range from $63.0 million to $67.0 million.

In commenting on the Company's performance and updated fiscal 2015 business outlook, Fred Kornberg, President and Chief Executive Officer, stated, “Although market conditions remain challenging, we are pleased that we posted solid results in the first quarter. While we have become more cautious, we still expect top and bottom line growth in fiscal 2015.”

For earnings history and earnings-related data on Comtech Telecom (CMTL) click here.

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