| 2016-10-06 17:41:44|
CMTL 17:41 10/06 10/06/16
Comtech sees FY17 GAAP EPS approximately 30c, consensus 23c
Sees FY17 revenue approximately $600M, consensus $638.88M. FY17 Adjusted EBITDA goal of approximately $70M. The company's effective income tax rate (excluding discrete tax items in fiscal 2017) is expected to approximate 33.0%. Based on the anticipated timing of shipments and performance related to orders currently in backlog as well as expected orders, the Company anticipates its financial performance to be heavily weighted toward the second half of fiscal 2017 with fourth quarter net sales, operating income and Adjusted EBITDA expected to be the peak quarter, by far. As a result, the Company expects to report an operating loss in the first quarter of fiscal 2017 with each of the subsequent fiscal 2017 quarters being profitable.