Melville, New York, August 14, 2002 - Comtech Telecommunications Corp. (Nasdaq: CMTL) said today that it will be presenting to certain institutional investors on August 15, 2002. A copy of the presentation can be found on the Company’s website at www.comtechtel.com. The purpose of the meetings is to provide background information about the Company and address the impact of the current business environment on the Company’s outlook for fiscal 2003.
Among the information included in the presentation regarding the current business environment and the Company’s outlook for fiscal 2003 is:
Army MTS funding for the government year ending September 30, 2003 is expected to increase to $34.5 million, with potential plus-ups of between $9 and 10 million. Such amounts represent total funding for the program before Army program office expenses. Actual orders to the Company are determined by the program office.
Discussions are ongoing with the U.S. Army regarding future funding for the MTS program.
Resurgence of interest in our over-the-horizon microwave troposcatter product line continues and we have significant bids outstanding with potential customers.
Economic conditions remain choppy.
Telecommunications capital spending remains soft, which continues to impact many of our product lines, most notably satellite earth station equipment.
Diluted EPS is expected to range between 5 and 7 cents for the first quarter of fiscal 2003 (three months ended October 31, 2002).
Investors are encouraged to review the presentation in its entirety.
About Comtech Telecommunications Corp.
Comtech Telecommunications Corp. (Nasdaq: CMTL)is an innovative player in domestic and global high technology markets. Through its operating units, Comtech pursues opportunities in three interrelated market segments: telecommunications transmission, RF microwave amplifiers, and mobile data communications services. In each of these segments, growth has been driven by the increasing demand for telecommunications infrastructure and network and messaging services. The Company’s specialties include the design of and manufacture of advanced products and networks used for transmission of voice, data and video using satellite, over-the-horizon microwave, terrestrial line of sight and other wireless communications systems. More than 275 distinct Comtech products are in service in more than 100 countries.
Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results could differ materially from such forward-looking information. The Company's Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such Securities and Exchange Commission filings.