Comtech Telecom (NASDAQ: CMTL) shares were trading more than 7% lower after-hours, following Q4 results and the company’s announcement of senior leadership transition.

Q4 EPS came in at $0.23, slightly lower than the consensus estimate of $0.24. Quarterly revenue of $145.8 million was also worse than the Street estimate of $149.66 million.

The company provided its full 2022-year outlook, expecting revenue in the range of $580-600 million (vs. Street estimate of $585 million) reflecting the strength of the company’s backlog and a strong sales pipeline, offset by the lasting COVID-19 impact, tightening global supply chain constraints and start-up costs of two new high-volume technology manufacturing facilities.

The company also appointed Michael Porcelain, the company’s President and COO, to be the CEO, taking over from Fred Kornberg by the end of 2021. Mr. Porcelain will continue as the company’s President and join its Board of Directors.

It is expected that Mr. Kornberg, will continue as a director and a non-executive Chairman of the Board and become an advisor on technology matters, helping the company with the leadership transition and counseling the executive team based on his strong technical expertise.