Comtech Telecommunications Corp Profit Falls 72% In Q1

(RTTNews) - Comtech Telecommunications Corp (CMTL) revealed earnings for first quarter that lost ground from last year.

The company said its bottom line dropped to $1.44 million, or $0.09 per share. This was down from $5.23 million, or $0.32 per share, in last year's first quarter.

Analysts had expected the company to earn $0.27 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 16.1% to $64.12 million. This was down from $76.39 million last year.

Comtech Telecommunications Corp earnings at a glance:

-Earnings (Q1): $1.44 Mln. vs. $5.23 Mln. last year. -Earnings Decline (Y-o-Y): -72.5% -EPS (Q1): $0.09 vs. $0.32 last year. -EPS Decline (Y-o-Y): -71.9% -Analysts Estimate: $0.27 -Revenue (Q1): $64.12 Mln vs. $76.39 Mln last year. -Revenue Change (Y-o-Y): -16.1%