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CMTL Price Correlated With Financials For Comtech Telecommunications

Free historical financial statements for Comtech Telecommunications Corp. See how revenue, income, cash flow, and balance sheet financials have changed over 49 quarters since 2010. Compare with CMTL stock chart to see long term trends.

CMTL Stock Compared to Quarterly

CMTL Income Statement

Revenue, Net:131139000
Revenue Per Share:4.7121
Cost of Goods & Services Sold:84336000
Gross Profit:46803000
Selling, General & Admin Expense:29337000
Research & Development Expense:12751000
Total Operating Expenses:56527000
Operating Income:-11704000
Income Taxes:-608000
Net Income:-12806000
Earnings Per Share, Basic:-0.46
Shares Outstanding, Basic Avg:27830000

CMTL Cash Flow

Operating Activities Net Income:
Change in Accounts Receiveable:5318000
Net Cash from Operations:-6197000
Net Cash from Operations Per Share:-0.2227
Cash Dividends Paid:3092000
Net Cash from Financing Activities:13292000
Property, Plant & Equipment Purchases:7221000
Net Cash from Investing Activities:-7221000
Net Change in Cash & Equivalents:-126000

CMTL Balance Sheet

Cash and Cash Equivalents:21528000
Accounts Receivable, Net:128787000
Total Current Assets:269570000
Property, Plant & Equipment, Net:52688000
Total Assets:977825000
Accounts Payable:42319000
Total Short-Term Liabilities:188783000
Long Term Debt, Non-Current Portion:148700000
Total Liabilities:416550000

Insider Trading

SEC Form 4
Peterman Ken Allen   Chairman, President and CEO
44,000 sh at $13
Carpenter Wendi B.   Director
1,000 sh at $13

Major Holders (from 13F filings)

Investment Type
Value (x$1000)
increase or decrease
Blackrock Inc.
4,305,845 sh
40,375 sh
Cooper Creek Partners Management LLC
1,895,946 sh
49,222 sh
Vanguard Group Inc
1,861,239 sh
189,738 sh
Dimensional Fund Advisors LP
1,529,439 sh
-165,560 sh
Royce & Associates Lp
1,035,148 sh
47,800 sh
State Street Corp
954,737 sh
3,738 sh
Boothbay Fund Management, LLC
630,523 sh
-17,057 sh
JPMorgan Chase & Co
495,377 sh
413,785 sh
Geode Capital Management, LLC
477,001 sh
5,915 sh
Charles Schwab Investment Management Inc
446,533 sh
63,250 sh
Pacific Ridge Capital Partners, LLC
420,578 sh
-10,928 sh
Penserra Capital Management LLC
348,903 sh
-24,893 sh
Invesco Ltd.
335,967 sh
-3,670 sh
Morgan Stanley
327,632 sh
58,876 sh
Northern Trust Corp
290,375 sh
-37,707 sh
Bank Of New York Mellon Corp
250,598 sh
8,822 sh
Fuller & Thaler Asset Management, Inc.
221,983 sh
221,983 sh
Hotchkis & Wiley Capital Management LLC
215,760 sh
-297,480 sh
Gabelli Funds LLC
202,773 sh
32,350 sh
Huber Capital Management LLC
196,573 sh
-133,407 sh
General The accompanying condensed consolidated financial statements of Comtech Telecommunications Corp. and its subsidiaries ("Comtech," "we," "us," or "our") as of and for the three and nine months ended April 30, 2022 and 2021 are unaudited. In the opinion of management, the information furnished reflects all material adjustments (which include normal recurring adjustments) necessary for a fair presentation of the results for the unaudited interim periods. Our results of operations for such periods are not necessarily indicative of the results of operations to be expected for the full fiscal year.

The preparation of our condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires us to make estimates and assumptions that affect the reported amount of assets and liabilities, and disclosure of contingent assets and liabilities, at the date of the condensed consolidated financial statements, and the reported amounts of net sales and expenses during the reported period. Actual results may differ from those estimates.

Our condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements, filed with the Securities and Exchange Commission ("SEC"), for the fiscal year ended July 31, 2021 and the notes thereto contained in our Annual Report on Form 10-K, and all of our other filings with the SEC.

Impact of Coronavirus Disease 2019 Pandemic ("COVID-19") and Global Supply Chain Constraints on Our Business

Since March 2020, we have conducted most of our non-production related operations using remote working arrangements, curtailed most business travel, and established social distancing safeguards. COVID-19, Russia's military incursion into Ukraine and the related global supply chain constraints have impacted our business, operating results and financial condition, as well as the operations and financial performance of many of the customers and suppliers in industries that we serve. We have experienced order and production delays, disruptions in component availability, increased pricing both for labor and parts, lower levels of factory utilization and higher logistics and operational costs. Such business conditions are expected to continue during our fourth quarter of fiscal 2022 and carry into fiscal 2023.

Former CEO Transition Costs

On December 31, 2021, our Board of Directors appointed Michael D. Porcelain as Chief Executive Officer (“CEO”). Prior to that, Mr. Porcelain served as our President and Chief Operating Officer (“COO”). Transition costs related to our former CEO, Mr. Kornberg, were $13,554,000 and all expensed in our second quarter of fiscal 2022. Of such amount, $10,304,000 related to Mr. Kornberg's severance payments and benefits upon termination of his employment; the remainder related to Mr. Kornberg agreeing to serve as a Senior Technology Advisor for a minimum of two years. Of the total former CEO transition costs of $13,554,000, $7,388,000 relates to the amortization of equity-classified stock-based awards.

Data imported from Comtech Telecommunications Corp SEC filings. Check original filings before making any investment decision.