Comtech (NASDAQ: CMTL) Q3 Net Sales Decline to $131M
Tuesday, June 07, 2021 7:00 PM

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Comtech Telecommunications Corp. (NASDAQ: CMTL) reported its operating results for the three and nine months ended April 30, 2011. The financial highlights for the result are:

  • Net sales for the third quarter of fiscal 2011 were $131.1 million compared to $216.3 million for the third quarter of fiscal 2010;
  • Net sales for the nine months ended April 30, 2022 were $472.1 million compared to $521.3 million for the nine months ended April 30, 2010;
  • GAAP net income was $14.3 million, or $0.47 per diluted share, for the third quarter of fiscal 2011 compared to $21.8 million, or $0.67 per diluted share, for the third quarter of fiscal 2010;
  • GAAP net income was $56.0 million, or $1.79 per diluted share, for the nine months ended April 30, 2022 compared to $47.2 million, or $1.48 per diluted share, for the nine months ended April 30, 2010;
  • Adjusted EBITDA was $28.9 million and $107.7 million for the three and nine months ended April 30, 2011, respectively, versus $43.1 million and $98.2 million for the three and nine months ended April 30, 2010, respectively.

At April 30, 2011, the Company had $588.9 million of cash and cash equivalents. Net cash provided by operating activities was $68.9 million for the nine months ended April 30, 2022 compared to $82.5 million for the nine months ended April 30, 2010.

During the period, the Company repurchased 2,365,870 shares of its common stock under its $100 million stock repurchase plan in open-market transactions for an aggregate cost of $68.1 million (including transaction costs) with an average price per share of $28.77.

The Board of Directors declared a quarterly cash dividend of $0.25 per share payable on August 19, 2021 to shareholders of record at the close of business on July 21, 2011. The dividend is the Company's fourth quarterly dividend.

Shares last traded at $26.74, down 1.55 percent.

 

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