Comtech Telecommunications Corp. Announces Results for Fiscal 2014 Fourth Quarter

Melville, NY, October 9, 2014--Comtech Telecommunications Corp. (NASDAQ:CMTL) today reported its operating results for the fourth quarter and fiscal year ended July 31, 2014. Net sales for the fourth quarter and full year of fiscal 2014 were US$ 89.4 million and US$ 347.2 million, respectively, as compared to US$ 84.4 million and US $319.8 million for the same periods in fiscal 2013. The year-over-year increase reflects higher sales in the Company's telecommunications transmission and RF microwave amplifiers segments, partially offset by lower sales in its mobile data communications segment.

The company reported GAAP diluted EPS of $0.48 and $1.37 for the fourth quarter and full fiscal year ended July 31, 2014, respectively, as compared to $0.28 and $0.97 for the comparative periods in fiscal 2013.

The company also announced initial financial guidance for its July 31, 2015 fiscal year. The Company projects that sales for fiscal 2015 will be between $355.0 million and $370.0 million. GAAP diluted EPS is expected to be between $1.70 and $1.86. Adjusted EBITDA for fiscal 2015 is expected to be in the range of $63.0 million to $67.0 million.

In commenting on the company's fiscal 2014 performance and fiscal 2015 business outlook, Fred Kornberg, President and Chief Executive Officer, stated, "We are extremely pleased with our financial results in fiscal 2014. As we look to fiscal 2015, we see momentum continuing and expect that fiscal 2015 will be a year of growth, both on the top and bottom lines."

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