Key Developments: Comtech Telecommunications Corp (CMTL.O)
26.50USD
24 May 2013
$0.25 (+0.95%)
$26.25
$26.20
$26.81
$26.01
101,845
121,942
$31.05
$22.33
Latest Key Developments (Source: Significant Developments)
Comtech Telecommunications Corp Secures Contract For $1.2 Million With European System Integrator
Comtech Telecommunications Corp announced that its Santa Clara, California-based subsidiary, Comtech Xicom Technology, Inc. was awarded a contract valued at $1.2 million for the supply of commercial satellite antenna-mount Ku-band amplifiers from one of Europe's system integrators. The amplifiers are to be used in transportable uplink systems for a TV broadcast network. Full Article
Comtech Telecommunications Corp Secures $1.1 Million Equipment Order to Support Satellite-Based High-Speed Data Trunking
Comtech Telecommunications Corp announced that its Tempe, Arizona-based subsidiary, Comtech EF Data Corp., was awarded a $1.1 million equipment order by a telecommunications operator in Asia. The operator will deploy the equipment to support high-speed trunking links transporting 880 Mbps of data traffic. The modems supplied have a combined ability to support over 3 Gbps of total traffic through software upgrades. Full Article
Comtech Telecommunications Corp Modifies BFT-1 Sustainment Contract and Receives Initial Order for Year 2 of Sustainment Services
Comtech Telecommunications Corp announced that its Germantown, Maryland-based subsidiary, Comtech Mobile Datacom Corporation, modified its Blue Force Tracking (BFT-1) sustainment contract and received an initial order for Year 2 of BFT-1 sustainment services. Due to budget pressures and administrative issues placed on the U.S. Army by the Continuing Resolution and Sequester, the U.S. government requested, and Comtech agreed to, a two year $43.6 million BFT-1 sustainment contract which modified the terms of Comtech`s previously announced three year BFT-1 sustainment contract, which had a not-to-exceed value of $80.7 million. The contract value for Year 2 was definitized at $20.8 million and has a performance period of April 1, 2013 to March 31, 2014. The contract value for Year 1 was definitized at $22.8 million. The modified two year BFT-1 sustainment contract provides the U.S. government with the ability to fund orders in stages. In connection with these modifications, Comtech received an initial $5.0 million funded order for Year 2, which includes $2.5 million for the first three months of the annual IP license fee, with the remaining funds allocated to network operations center services and telehousing. The U.S. Army has also informed the Company that it intends to award and fund a separate contract to Comtech to procure future BFT-1 sustainment services for periods beyond March 31, 2014. Full Article
Comtech Telecommunications Corp Issues FY 2013 Guidance Below Analysts' Estimates; Declares $0.275 Per Share Quarterly Cash Dividend
Comtech Telecommunications Corp announced that for fiscal 2013, it expects revenue to range from $320.0 million to $330.0 million and GAAP diluted earnings per share is now expected to be between $0.80 and $0.92. Adjusted EBITDA for fiscal 2013 is now expected to be in the range of $48.0 million to $52.0 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $353 million, EBITDA of $60.08 million and EPS of $1.26 for fiscal 2013. The Company also announced that its Board of Directors declared a quarterly cash dividend of $0.275 per share, payable on May 21, 2013, to shareholders of record at the close of business on April 19, 2013. Full Article
Comtech Telecommunications Corp's Comtech EF Data Corp Secures $5.0 Million WAN Optimization Order For Military Network
Comtech Telecommunications Corp's Comtech EF Data Corp announced that it was awarded a $5.0 million order from a government systems integrator for its turboIP-G2 Performance Enhancement Proxies. The United States Marine Corps will utilize the Performance Enhancement Proxies in their modular, tactical system to support reliable and high-bandwidth warfighter communications. Full Article
Comtech Telecommunications Corp Secures $1.1 Million Contract
Comtech Telecommunications Corp's Comtech Xicom Technology, Inc. announced that it has received an order for $1.1 million for the Company`s 500-Watt, continuous wave (CW), high-power amplifiers for high throughput satellite (HTS) services operating in the Ka-band frequency. Full Article
Comtech Telecommunications Corp's Subsidiary Receives $4.4 Million Traveling Wave Tube Amplifier Order For Military Communications
Comtech Telecommunications Corp announced that its Santa Clara, California-based subsidiary, Comtech Xicom Technology Inc., received a $4.4 million order from a domestic integrator for Traveling Wave Tube Amplifiers (TWTAs) for a U.S. Government Satellite Communications application. Full Article
Comtech Telecommunications Corp's Comtech EF Data Corp Secures $6.5 Million Buying Agreement From Harris Corporation
Comtech Telecommunications Corp's Comtech EF Data Corp announced that it was awarded a $6.5 million buying agreement from Harris Corporation. Under the buying agreement, Harris will purchase Comtech EF Data ground equipment to support the satellite network upgrade of the Federal Aviation Administration`s ("FAA") Alaskan Satellite Telecommunications Infrastructure (ASTI) program. The not to exceed $6.5 million buying agreement encompasses a range of Comtech EF Data ground equipment, including the CDM-625 Advanced Satellite Modem with DoubleTalk Carrier-in-Carrier, redundancy switches, and RF products for indoor and outdoor environments. Full Article
Comtech Telecommunications Corp Lowers FY 2013 Guidance-Conference Call
Comtech Telecommunications Corp announced that it now expects revenues in fiscal 2013 will be in the range of $350-$365 million, GAAP diluted EPS will be in the range of $1.26-$1.34 and adjusted EBITDA to be in the range of $65-$68 million. Full Article
Comtech Telecommunications Corp Declares $0.275 Per Share Quarterly Cash Dividend And Announces New $50.0 Million Stock Repurchase Program
Comtech Telecommunications Corp announced that its Board of Directors declared a quarterly cash dividend of $0.275 per share, payable on December 27, 2012, to shareholders of record at the close of business on December 17, 2012. The Company also announced that its Board of Directors has authorized a new $50.0 million stock repurchase program. These repurchases may be made in open-market or privately negotiated transactions and may be made pursuant to SEC Rule 10b5-1 trading plans. This program will be effective upon the completion of the Company`s current $250.0 million stock repurchase program, of which $11.3 million remains available for stock repurchases. Together with the new $50.0 million stock repurchase program, the Company is authorized to repurchase up to an additional $61.3 million of its common stock. Full Article
Comtech profit falls, cuts full-year forecast
- 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".
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