NASDAQ$CMTL
Comtech Telecommunications Corp · Q4 2020 earnings
Q4 2020 earnings · · Investor relations
Briefing
Comtech reported solid Q4 2020 results, showing a sequential increase in net sales and achieving a book-to-bill ratio of 1.07. The company's prudent financial management enabled them to generate strong operating cash flows.
Comtech Telecommunications Corp. reported solid fourth-quarter results for fiscal year 2020, with net sales of $149.7 million and a book-to-bill ratio of 1.07. The company reported operating income of $2.8 million, a net income of $1.1 million and EPS of $0.04. Comtech provided forward-looking comments and financial targets for fiscal 2021.
- Consolidated net sales for the fourth quarter of fiscal 2020 were solid at $149.7 million, representing a sequential increase of 10.8% compared to the previous quarter.
- Bookings of $159.7 million resulted in a book-to-bill ratio of 1.07 for the fourth quarter of fiscal 2020.
- GAAP operating income was $2.8 million, net income was $1.1 million, and EPS was $0.04 for the fourth quarter of fiscal 2020.
- Adjusted EBITDA for the fourth quarter of fiscal 2020 was $23.5 million, or 15.7% of consolidated net sales, with strong GAAP operating cash flows of $13.8 million.
Headline financials
Revenue & EPS history
Comtech · Revenue · Quarterly
$150M
Revenue by segment
Comtech · $106M total across 2 segments · Q3 2026
- Allerium$55.7M—52.5%
- Satellite and Space Communications$50.3M—47.5%
Forward guidance
Comtech expects fiscal 2021 consolidated net sales and Adjusted EBITDA will be slightly higher than the amounts achieved in fiscal 2020.
Tailwinds
- Strong demand for Manpack Satellite Terminals, networking equipment and other advanced VSAT products by the U.S. Army.
- Ongoing sustainment services to the U.S. Army for the AN/TSC-198A SNAP terminal.
- Sustainment services for the U.S. Army's Project Manager Mission Command (“PM MC”) Blue Force Tracking (“BFT-1”) program.
- Joint Cyber Analysis Course (“JCAC”) training solutions.
- Additional orders for the newly introduced Comtech COMET, the world’s smallest deployable troposcatter terminal, and its next-generation troposcatter system used by the U.S. Marine Corps.
Headwinds
- Fiscal 2021 net sales will reflect the absence of a high margin 911 call routing software contract from a large U.S. mobile network operator whose contract with Comtech ended in March 2020.
- Fiscal 2021 will reflect the cessation of certain software-related services provided to a smaller U.S. mobile network operator that was recently acquired by a competitor.
- Fiscal 2021 operating income will be impacted by acquisition plan expenses (including litigation expenses) associated with the pending acquisitions of Gilat Satellite Networks Ltd. ("Gilat") and UHP Networks, Inc. ("UHP").
- To-date, during the first quarter of fiscal 2021, the Company has incurred approximately $14.2 million of acquisition related litigation expenses.
- Acquisition plan expenses are expected to continue through the Company’s second quarter of fiscal 2021.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q4 2020
-3.1%
Avg return
Earnings day
-3.0%
Avg return
5 days after
-3.9%
Avg return
30 days after
32%
21 / 66 earnings
Positive
+75.6%
Q3 2024
Best reaction
-26.9%
Q1 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | — | — | — | |
| Q2 2026 | -24.5% | -25.4% | -17.5% | |
| Q1 2026 | -15.5% | -21.3% | +51.1% | |
| Q4 2025 | +7.0% | +6.7% | +20.7% | |
| Q3 2025 | +0.0% | +14.4% | +26.2% | |
| Q2 2025 | -11.3% | -9.4% | -36.6% | |
| Q4 2024 | -24.8% | +1.7% | -26.6% | |
| Q3 2024 | +75.6% | +67.7% | +40.1% | |
| Q2 2024 | -25.3% | -30.1% | -56.2% | |
| Q1 2024 | -26.9% | -36.4% | -31.8% | |
| Q4 2023 | +17.8% | +17.3% | +37.0% | |
| Q3 2023 | -19.1% | -20.6% | -23.8% | |
| Q2 2023 | -15.8% | -22.6% | -24.8% | |
| Q1 2023 | +5.4% | +3.1% | -1.6% | |
| Q4 2022 | -2.4% | +4.2% | +5.9% | |
| Q3 2022 | -24.0% | -28.5% | -25.9% | |
| Q2 2022 | -19.3% | -19.5% | -25.2% | |
| Q1 2022 | -2.9% | -6.8% | -6.7% | |
| Q4 2021 | -13.5% | -12.9% | +1.1% | |
| Q3 2021 | -10.4% | -12.1% | +1.8% | |
| Q2 2021 | -3.5% | -10.4% | -13.8% | |
| Q1 2021 | -14.4% | -11.6% | +10.5% | |
| Q4 2020 | -0.2% | -0.4% | +6.8% | |
| Q3 2020 | -7.2% | +6.6% | -13.3% | |
| Q2 2020 | -15.2% | -22.4% | -56.8% | |
| Q1 2020 | -0.5% | -3.9% | -1.5% | |
| Q4 2019 | +17.6% | +12.3% | +6.6% | |
| Q3 2019 | +17.5% | +17.4% | +24.0% | |
| Q2 2019 | -10.0% | -14.9% | -12.2% | |
| Q1 2019 | +13.7% | +1.5% | -2.7% | |
| Q4 2018 | -5.9% | +2.3% | -19.0% | |
| Q3 2018 | -2.0% | -4.5% | -1.2% | |
| Q2 2018 | +25.3% | +28.2% | +23.9% | |
| Q1 2018 | +6.3% | -0.6% | +5.3% | |
| Q4 2017 | -13.5% | -4.3% | +5.6% | |
| Q3 2017 | +17.4% | +24.0% | +23.6% | |
| Q2 2017 | +24.8% | +28.5% | +20.6% | |
| Q1 2017 | -11.9% | -4.8% | -0.3% | |
| Q4 2016 | -7.2% | -10.0% | -24.6% | |
| Q3 2016 | -10.8% | -20.9% | -42.3% | |
| Q2 2016 | +0.0% | — | — | |
| Q1 2016 | -5.7% | — | — | |
| Q4 2015 | -19.4% | — | — | |
| Q3 2015 | -0.4% | — | — | |
| Q2 2015 | -13.1% | — | — | |
| Q1 2015 | -16.0% | — | — | |
| Q4 2014 | -5.7% | — | — | |
| Q3 2014 | +23.3% | — | — | |
| Q2 2014 | +1.4% | — | — | |
| Q1 2014 | +1.9% | — | — | |
| Q4 2013 | +5.8% | — | — | |
| Q3 2013 | +3.5% | — | — | |
| Q2 2013 | -4.9% | — | — | |
| Q1 2013 | -5.8% | — | — | |
| Q4 2012 | -2.7% | — | — | |
| Q3 2012 | +4.5% | — | — | |
| Q2 2012 | +4.2% | — | — | |
| Q1 2012 | -4.4% | — | — | |
| Q4 2011 | +2.0% | — | — | |
| Q4 2009 | +2.0% | — | — | |
| Q3 2010 | -10.8% | — | — | |
| Q3 2011 | -10.8% | — | — | |
| Q2 2010 | -3.5% | — | — | |
| Q2 2011 | -3.5% | — | — | |
| Q1 2011 | -12.1% | — | — | |
| Q4 2010 | -12.1% | — | — | |
| Q1 2010 | -12.1% | — | — |
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