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Comtech Telecommunications Corp. (CMTL) filed Quarterly Report for the period ended 2011-10-31.
Comtech Telecommunications Corp. has a market cap of $724.9 million; its shares were traded at around $30.9 with a P/E ratio of 15.8 and P/S ratio of 1.2. The dividend yield of Comtech Telecommunications Corp. stocks is 3.5%. Comtech Telecommunications Corp. had an annual average earning growth of 24.5% over the past 10 years. GuruFocus rated Comtech Telecommunications Corp. the business predictability rank of 2.5-star.
This is the annual revenues and earnings per share of CMTL over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of CMTL.
Highlight of Business Operations:
Excluding the net benefit to operating income in the first quarter of fiscal 2012 associated with both the previously discussed finalization of pricing and increased funding for certain MTS and BFT-1 orders and the professional fees associated with the withdrawn contested proxy solicitation, operating income approximated $12.8 million, or 11.9% of consolidated net sales for the three months ended October 31, 2011. Excluding the net merger termination fee of $12.5 million recorded in the first quarter of fiscal 2011, operating income approximated $27.6 million or 15.5% of consolidated net sales for the three months ended October 31, 2010.Excluding the net benefit to operating income in the first quarter of fiscal 2012 associated with both the previously discussed finalization of pricing and increased funding for certain MTS and BFT-1 orders and the professional fees associated with the withdrawn contested proxy solicitation, operating income approximated $12.8 million, or 11.9% of consolidated net sales for the three months ended October 31, 2011. Excluding the net merger termination fee of $12.5 million recorded in the first quarter of fiscal 2011, operating income approximated $27.6 million or 15.5% of consolidated net sales for the three months ended October 31, 2010.
Our RF microwave amplifiers segment generated operating income of $0.3 million or 1.4% of related net sales for the three months ended October 31, 2011 as compared to $0.6 million or 2.8% of related net sales for the three months ended October 31, 2010. This decrease in operating income, both in dollars and as a percentage of the related net sales, is primarily due to this segment s decline in net sales and gross profit percentage, partially offset by lower research and development expenses, as discussed above.
Our mobile data communications segment generated operating income of $9.4 million or 26.5% of related net sales for the three months ended October 31, 2011 as compared to $25.1 million or 23.6% of related net sales for the three months ended October 31, 2010. The decrease in operating income, in dollars, was primarily due to this segment s lower net sales and gross profit, as discussed above. The increase in operating income, as a percentage of related net sales, was driven by the increase in the gross profit percentage (including the benefit associated with the finalization of pricing related to certain MTS and BFT-1 orders) and lower operating expenses, as discussed above.
Unallocated operating expenses were $7.0 million for the three months ended October 31, 2011 as compared to unallocated operating income of $6.1 million for the three months ended October 31, 2010. Excluding the aforementioned $2.6 million of professional fees recorded as selling, general and administrative expenses and excluding the previously discussed receipt of a $12.5 million net merger termination fee associated with the termination of the CPI acquisition agreement, unallocated operating expenses were $4.4 million and $6.4 million for the three months ended October 31, 2011 and 2010, respectively. This $2.0 million decrease is primarily attributable to a decline in selling, general and administrative expenses associated with the lower level of consolidated net sales, as discussed above.
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