CMTL - Comtech Telecommunications Non-GAAP EPS of $0.06 beats by $0.06 revenue of $122.1M misses by $0.43M

Comtech Telecommunications press release (NASDAQ:CMTL): Q3 Non-GAAP EPS of $0.06 beats by $0.06. Revenue of $122.1M (-12.4% Y/Y) misses by $0.43M. New bookings, also referred to as orders, were $113.4 million, a 10.2% sequential increase and resulting in a quarterly book-to-bill ratio of 0.93x. Backlog of $602.3 million as of April 30, 2022, as compared to $611.1 million as of January 31, 2022. Given market conditions and near-term uncertainties, I have become more cautious with regards to our outlook and are adjusting our financial targets for fiscal 2022 as follows: Q4 fiscal 2022 net sales are expected to approximate $123.0 million ($156.23M consensus) resulting in expected fiscal 2022 consolidated net sales of approximately $482.0 million ($516.86M consensus). Q4 fiscal 2022 Adjusted EBITDA is expected to approximate $11.5 million resulting in expected fiscal 2022 Adjusted EBITDA of approximately $38.0 million.

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Comtech Telecommunications Non-GAAP EPS of $0.06 beats by $0.06, revenue of $122.1M misses by $0.43M