Dec 6 Communications equipment maker Comtech
Telecommunications Corp reported a drop in quarterly
profit and lowered its full-year forecast citing uncertainty
among its customers due to the impending "fiscal cliff".
Shares of the company were down 11.5 percent after the bell.
They closed at $25.80 on the Nasdaq on Thursday.
Comtech Telecommunications said it now expects full-year
earnings of between $1.26 and $1.34 per share on revenue of
between $350 million and $365 million.
It had previously forecast earnings of between $1.40 and
$1.50 per share on revenue of between $375 million and $395
First-quarter net income fell to $7.4 million, or 36 cents
per share, from $12.6 million, or 47 cents per share, a year
Sales fell almost 20 percent to $91 million on lower sales
in its mobile data communications business.