Comtech Telecommunications Corp. Announces Results for the First Quarter of Fiscal 2011 and Declares $0.25 Per Share Quarterly Cash Dividend
finance.yahoo.com
MELVILLE, N.Y., Dec. 8, 2010 (GLOBE NEWSWIRE) -- Comtech Telecommunications Corp. (Nasdaq:CMTL) today reported its operating results for the first quarter ended October 31, 2010.
Net sales for the first quarter of fiscal 2011 were $178.2 million compared to $133.8 million for the first quarter of fiscal 2010. The period-over-period comparative increase in net sales is attributable to higher net sales in both the Company's telecommunications transmission and mobile data communications segments that were offset, in part, by lower net sales in the Company's RF microwave amplifiers segment.
In commenting on the Company's performance, Fred Kornberg, President and Chief Executive Officer, stated, "We are pleased with our first quarter results. Although sales to the U.S. Army are expected to decline in future quarters as compared to our first quarter sales, we believe fundamentals across our company remain solid and that many of our product lines will benefit from slowly improving business conditions."
Mr. Kornberg added, "Appropriate acquisitions are high on our to-do list. While it is too early to forecast the outcomes, our acquisition initiatives are currently centered on a number of opportunities that we believe would complement our existing businesses and that would align with our long-term strategy." |
