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Comtech Telecommunications profit misses consensus by 15.9% in fiscal Q2

Comtech Telecommunications Corp. said its normalized net income for the fiscal second quarter ended Jan. 31 was 21 cents per share, compared with the S&P Capital IQ consensus estimate of 26 cents per share.

EPS fell 46.8% year over year from 40 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $3.5 million, a decline of 47.7% from $6.7 million in the prior-year period.

The normalized profit margin dropped to 4.9% from 8.1% in the year-earlier period.

Total revenue declined 14.0% year over year to $70.3 million from $81.8 million, and total operating expenses fell 9.0% year over year to $64.8 million from $71.2 million.

Reported net income decreased 68.0% year over year to $2.4 million, or 15 cents per share, from $7.6 million, or 46 cents per share.