Comtech Telecommunications Says As We Enter Q3 Fiscal 2024, Business Conditions Continue To Be Challenging, Operating Environment Is Largely Unpredictable, We Anticipate Some Variability From Time To Time As We Move Through Our One Comtech Transformational Change, We Are Targeting Net Sales And Adjusted EBITDA For FY24 To Be Better Than FY23

Author: Benzinga Newsdesk | March 18, 2024 04:44pm

OUTLOOK:

 

 As I wrote earlier, we are encouraged by the progress we have made through our One Comtech transformation. We continue to implement many important lean initiatives and process improvement activities anticipated to drive sustainable, profitable growth in our business. Several of these actions have already contributed to our improved financial performance, affording us the opportunity to report our third consecutive fiscal quarter of positive GAAP operating income since fiscal 2021. As we enter the third quarter of fiscal 2024, as described in more detail in our Q2 FY24 Form 10-Q, business conditions continue to be challenging, and the operating environment is largely unpredictable. Nevertheless, despite these business conditions and resulting challenges and although we anticipate some variability from time to time as we move through our One Comtech transformational change, we are targeting net sales and Adjusted EBITDA* for fiscal year 2024 to be better than fiscal 2023.

Posted In: CMTL