Comtech Telecommunications Falls Post-Market

Shares of Comtech Telecommunications (NASDAQ: CMTL) are trading lower in the after-hours following the release of the company's Q3 earnings results. Currently, shares are lower by 3.14%, trading at $25.90; they closed the regular session lower by 1.55%, at $26.74. Comtech Telecommunications said that its Q3 EPS was $0.47 on revenues of $131.1 million. The Street was looking for $0.39 per share on revenues of $144.8 million. Revenues declined by 39.4% year over year. In commenting on the Company's performance, Fred Kornberg, President and Chief Executive Officer, stated, "Despite lower than expected sales for the third quarter, we once again posted solid quarterly results. Sales for the third quarter did not include originally anticipated shipments related to certain MTS hardware orders. These hardware orders are now expected to ship during the fourth quarter of fiscal 2011."Mr. Kornberg added, "We continue to expect future annual sales and related operating income from the U.S. Army to significantly decline from current levels. Nevertheless, I remain optimistic about our future direction. With deployable cash of approximately $590 million, we continue to focus our acquisition efforts on a number of opportunities that we believe would complement our existing businesses, diversify our customer base and align with our long-term strategy."Comtech Telecommunications Corp. designs, develops and markets products, systems and services for communications solutions. The company operates in three segments: telecommunications transmission, mobile data communications and radio frequency microwave amplifiers.