Exhibit 99.1
Media Contacts:                    
Michael D. Porcelain, Senior Vice President and Chief Financial Officer
(631) 962-7103
Info@comtechtel.com

COMTECH TELECOMMUNICATIONS CORP. ANNOUNCES
RESULTS FOR FISCAL 2018 FIRST QUARTER AND
UPDATES ITS FISCAL 2018 GUIDANCE

Melville, New York – December 6, 2017 – Comtech Telecommunications Corp. (NASDAQ: CMTL) today reported its operating results for the first fiscal quarter ended October 31, 2017 and updated its fiscal 2018 guidance.

Fiscal 2018 First Quarter Highlights

Net sales were $121.6 million.

Bookings were $165.7 million and Comtech achieved a company-wide book-to-bill ratio (a measure defined as bookings divided by net sales) of 1.36.

As of October 31, 2017, the Company had backlog of $490.4 million.

GAAP operating income was $0.2 million and GAAP net loss was $1.7 million, or $0.07 per diluted share. Comtech’s first quarter 2018 financial results do not include the benefit of $2.5 million of BFT-1 intellectual property license fees that Comtech earned in the first quarter of fiscal 2017 supporting the U.S. Army’s Blue Force Tracking Program.

Adjusted EBITDA was $9.6 million for the three months ended October 31, 2017. Adjusted EBITDA is a non-GAAP financial measure which is reconciled to the most directly comparable GAAP financial measure and is more fully defined in the below table.

Comtech generated cash flows from operating activities of $6.5 million.

Comtech paid cash dividends of $2.5 million to its common stockholders.

As of October 31, 2017, the Company had $42.5 million of cash and cash equivalents.

In commenting on Comtech’s performance during the first quarter of fiscal 2018 and Comtech’s fiscal 2018 guidance, Fred Kornberg, President and Chief Executive Officer, stated “Fiscal 2018 is off to a good start and our first quarter results exceeded our expectations. During the quarter, we received a number of large strategic orders and experienced strong order flow across many of our product lines. Based on our current business momentum, fiscal 2018 is beginning to look like a very strong year.”

2018 Fiscal Year Financial Targets

Comtech is still targeting a revenue goal with a range of approximately $550.0 million to $575.0 million.

Comtech is increasing its GAAP diluted EPS goal to a new range of $0.44 to $0.46, as compared to a prior range of $0.41 to $0.44.

Comtech is increasing its Adjusted EBITDA goal to a new range of $69.0 million to $73.0 million, as compared to a prior range of $68.0 million to $72.0 million. If order flow remains strong and Comtech is able to achieve all of its fiscal 2018 business goals, it is possible that Adjusted EBITDA in fiscal 2018 could exceed the $70.7 million it achieved in fiscal 2017.

In line with Comtech’s original 2018 Fiscal Year Financial Targets, given the straight-line amortization expense associated with intangible assets with finite lives, on a GAAP basis, Comtech expects to report an operating loss and net loss in the second quarter of fiscal 2018, with each of the third and fourth quarters of fiscal 2018 achieving operating income and net income.
- more -



The following information was filed by Comtech Telecommunications Corp (CMTL) on Wednesday, December 6, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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