Quarterly profit that topped market estimates, driven by growth in its telecommunications transmission and RF microwave amplifiers segments.
Comtech agreed to purchase Radyne for $223.6 million to expand its satellite earth station product portfolio and diversify global customer base.
Comtech Telecommunications reported its Q4 results, which exceeded analysts’ expectations. The net income for the quarter was $117.1 million, compared to $11.8 million last year. Further, the net sales increased from $100.2 million last year to $117.8 million this year. The growth was primarily driven by growth in the mobile data communications and RF microwave amplifiers segments.
Comtech Telecommunication announced that its subsidiary, Comtech Mobile Datacom Corp., received an order worth $53.3 million under its IDIQ contract with the U.S. Army Communications Electronics Command (CECOM). The company was also awarded a contract of $605.1 million by the U.S. Army for its movement tracking system.