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Comtech Telecommunications Corp. Announces Results For Fiscal Year 1998

October 13, 1998 at 12:00 AM EDT
Comtech Telecommunications Corp. Announces Results For Fiscal Year 1998 Melville, New York -- October 13, 1998 -- COMTECH TELECOMMUNICATIONS CORP. (NASDAQ/NMS: CMTL) today reported that for the fiscal year ended July 31, 1998, the Company had a net profit of $1,104,000 or $.42 per share, on sales of $30,114,000 as compared to a net profit of $484,000 or $.19 per share, on sales of $24,746,000 for fiscal 1997.

Backlog at July 31, 1998 was $15,452,000 as compared to $14,724,000 at July 31, 1997. Although we continue to experience effects of the Asian economic crisis at Comtech Communications, our international sales dollars were comparable to 1997.

In reporting these results, Fred Kornberg, President and Chief Executive Officer, said "In fiscal 1998, we achieved three major goals. We extended the number of profitable quarters to eleven, we increased bookings and we continued our transition to a product oriented business increasing our product offerings by introducing our new transceiver and modem product lines, our quick deployable 1.2 and 1.8 meter antenna systems and broadband solid state amplifiers covering the 800 to 2500 MHz bandwidth". Mr. Kornberg was also pleased to report that "Our New York Comtech PST operating unit achieved record bookings, sales and profits during this fiscal year".

Comtech manufacturers state-of-the-art solid state high power amplifiers and high technology satellite and over-the-horizon microwave products and systems for commercial and government applications. Please visit our website www.comtechtel.com for more information.