UPDATE 1-Comtech set for strong growth in 2010 - CEO

* Current backlog positions us for strong 2010 growth-CEO

* Sees 2009 rev $590-$595 mln vs $531.63 mln yr ago

* Sees 2009 adj shr $2.13 to $2.16 vs $2.76 yr ago

* Shares up more than 7 percent

June 4 (Reuters) - Comtech Telecommunications Corp (CMTL.O) said it is poised for "dramatic growth" in 2010, despite near-term challenges, sending the telecom equipment maker's shares up more than 7 percent.

Chief Executive Fred Kornberg said the company's record backlog positions it to return to year-over-year growth in revenue and earnings in fiscal 2010.

"From a balance sheet perspective, we are rock solid and hope to be in a position to redeploy a large portion of the $450 million of cash that we have today," he said.

The company cut its revenue outlook for 2009 to $590 million to $595 million, citing delays in shipment orders but said it would realise this revenue in 2010.

"We anticipate a shift of about $15 million of revenue from the fourth quarter of 2009 to fiscal 2010," the company said in a conference call to analyts.

Comtech said it expects earnings of $1.70 to $1.72 a share for 2009, including the impact of notes in fiscal 2009.

Excluding items, the company expects earnings of $2.13 a share to $2.16 a share.

Shares of the company, whose products are used in commercial and defense satellite applications, were trading up 5.36 percent at $30.84 Thursday on Nasdaq. (Reporting by Mansi Dutta in Bangalore; Editing by Jarshad Kakkrakandy)