Exhibit 99.1
Media Contact:                    
Michael D. Porcelain, President and Chief Operating Officer
(631) 962-7000
Info@comtechtel.com

COMTECH TELECOMMUNICATIONS CORP. ANNOUNCES
RESULTS FOR ITS FISCAL 2021 THIRD QUARTER AND
UPDATES ITS FINANCIAL TARGETS FOR FISCAL 2021

Melville, New York – June 8, 2021
– Comtech Telecommunications Corp. (NASDAQ: CMTL) today reported its operating results for the third fiscal quarter ended April 30, 2021 and updated its financial targets for fiscal 2021.

Fiscal 2021 Third Quarter Highlights

Consolidated net sales of $139.4 million and Adjusted EBITDA of $17.7 million (or 12.7% of consolidated net sales). Adjusted EBITDA, which significantly exceeded Comtech's expectation for its third quarter of fiscal 2021, is a non-GAAP financial measure that is reconciled to the most directly comparable GAAP financial measure and is more fully defined below.

With bookings of $115.9 million, the Company achieved a book-to-bill ratio (a measure defined as bookings divided by net sales) of 0.83 during its third quarter of fiscal 2021. Backlog as of April 30, 2021 was $636.5 million. The total value of multi-year contracts that Comtech has received is substantially higher than its reported backlog. When adding Comtech’s backlog and the total unfunded value of multi-year contracts that Comtech has received and for which it expects future orders, its revenue visibility approximates $1.1 billion.

The Company incurred an aggregate of $5.3 million of acquisition plan expenses due to the April 2021 settlement of litigation related to the 2019 acquisition of GD NG-911 as well as the March 2021 closing of the UHP acquisition. The integration of UHP into Comtech’s satellite ground station product line is well underway, and it does not expect to incur any significant acquisition plan expenses for the remainder of fiscal 2021.

The Company's annual effective income tax rate was 11.5%, excluding a net discrete tax expense of $0.2 million.

Comtech reported GAAP operating income of $2.4 million, GAAP net income of $0.8 million and GAAP net income per diluted share ("EPS") of $0.03 for the third quarter of fiscal 2021. Non-GAAP operating income was $8.9 million, Non-GAAP net income was $6.8 million and Non-GAAP EPS was $0.26. These Non-GAAP amounts exclude acquisition plan expenses, restructuring costs, COVID-19 related costs, strategic emerging technology costs for next-generation satellite technology and a net discrete tax expense. Non-GAAP amounts are reconciled to the most directly comparable GAAP financial measures in the table below.

Comtech generated GAAP operating cash flows of $6.8 million during the third quarter and had $39.2 million of cash and cash equivalents and total debt outstanding of $215.0 million as of April 30, 2021.

Commenting on the Company's third quarter fiscal 2021 performance, Fred Kornberg, Chairman of the Board and Chief Executive Officer, stated, "Thanks to the hard work of all of our team members, we achieved solid operating performance and have recently secured important contract awards that bode well for our future. We are continuing to invest in new state-of-the-art production and engineering facilities as well as new next-generation wireless technology solutions that we believe our customers will want in the post-COVID-19 pandemic economic recovery. Looking forward, we are confident that we will have a strong finish to fiscal 2021 and achieve growth in fiscal 2022.”


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The following information was filed by Comtech Telecommunications Corp (CMTL) on Tuesday, June 8, 2021 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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