Comtech Telecommunications Corp. - Common Stock (CMTL)
1.6550
+0.0450 (2.80%)
Comtech Telecom Company specializes in providing advanced communications solutions, serving both commercial and government sectors
The company designs, develops, and manufactures a wide range of technology products, including satellite communication systems, wireless communication systems, and associated equipment that enable reliable data transmission and secure connectivity. Comtech is known for its expertise in high-performance systems that support mission-critical applications, enhancing communication capabilities across various industries. Their innovation-driven approach positions them as a key player in the rapidly evolving telecommunications landscape.
March 3, 2025-- Comtech Telecommunications Corp. (NASDAQCMTL) (“Comtech” or the “Company”), a global communications technology leader, today announced an amendment to its senior secured credit agreement that cures the covenant breaches as of January 31, 2025, that the Company had disclosed it anticipated in its earnings release, 10Q and conference call on January 13, 2025. The agreement also provides for improved financial flexibility with the suspension of the fixed charge coverage ratio and the net leverage ratio covenants in the senior secured credit agreement such that the next test will be for the quarter ending on October 31, 2025. Furthermore, the agreement reduces the interest rate on the senior secured loans.
February 26, 2025-- Comtech Telecommunications Corp. (NASDAQCMTL) (“Comtech” or the “Company”), a global communications technology leader, today announced the launch of the Company’s new ELEVATE 2.0 multi-orbit satellite communications (“SATCOM”) platform.
February 18, 2025-- Comtech Telecommunications Corp. (NASDAQCMTL) (“Comtech” or the “Company”), a global communications technology leader, today announced that the Comtech Board of Directors (the “Board”) has appointed David (Dave) B. Kagan as an independent director to the Board, effective February 13, 2025.
February 13, 2025-- Comtech Telecommunications Corp. (NASDAQCMTL) (“Comtech” or the “Company”), a global communications technology leader, today announced the launch of the Company’s new multipath radio (“MPR”) platform. As the first-ever terrestrial high data rate over-the-horizon integrated radio of its kind, MPR will empower first responders, warfighters, and commercial operators with new high data rate communications capabilities on a single antenna agnostic platform.
January 13, 2025-- Comtech Telecommunications Corp. (NASDAQCMTL) ("Comtech" or the "Company"), a global communications technology leader, today reported financial results for its first fiscal quarter ended October 31, 2024. In addition, Comtech separately announced today that its Board of Directors (the "Board") has named Ken Traub as President and Chief Executive Officer, effective immediately, in addition to his current role as Chairman, and that the Board and management team are undertaking a series of prompt and decisive actions to address the Company's current challenges and build a stronger company for long-term. That press release can be found on the Company’s investor relations website.
Jan. 13, 2025-- Comtech Telecommunications Corp. (NASDAQCMTL) (“Comtech” or the “Company”), a global communications technology leader, today announced that its Board of Directors (the “Board”) has named Ken Traub as President and Chief Executive Officer, replacing John Ratigan effective immediately. Mr. Traub joined the Comtech Board on October 31, 2024 and became Executive Chairman on November 27, 2024.
Jan. 10, 2025-- Comtech Telecommunications Corp. (NASDAQCMTL) (“Comtech” or the “Company”) today announced that it plans to release its first quarter fiscal 2025 results before the market opens on Monday, January 13, 2025.
December 23, 2024-- Comtech Telecommunications Corp. (NASDAQCMTL) (“Comtech” or the “Company”), a global technology leader, received a letter (the “Letter”) from the Nasdaq Listing Qualifications Department of the Nasdaq Stock Market (“Nasdaq”) notifying the Company that it is not in compliance with periodic requirements for continued listing set forth in Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”) because the Company’s Quarterly Report on Form 10-Q for the period ended October 31, 2024 (the “Report”) was not filed with the Securities and Exchange Commission (the “SEC”) by the required extended due date of December 16, 2024. This Letter received from Nasdaq has no immediate effect on the listing or trading of the Company’s shares.
Cantor Fitzgerald is charged with violating antifraud and proxy provisions. Former Comtech CEO is charged with insider trading ahead of negative earnings announcement.
Comtech Telecommunications Corp. (NASDAQCMTL) (“Comtech” or the “Company”), a global technology leader, today announced that its Board of Directors (the “Board”) has unanimously elected Kenneth (Ken) H. Traub as the Executive Chairman of the Company. Mark Quinlan has stepped down from his role as Chairman of the Board and will continue serving on the Board. In addition to Mr. Traub's role in chairing the Board, he will be the senior executive leading the Company. John Ratigan, Comtech's President and CEO, will report directly to Mr. Traub and they will be working closely together. In addition, former U.S. Army Chief Information Officer, Lieutenant General (Retired) Bruce T. Crawford, has been elected to serve as Lead Independent Director.
November 26, 2024-- Comtech Telecommunications Corp. (NASDAQCMTL) (“Comtech” or the “Company”), a global technology leader, today released its Fiscal Year 2024 (“FY24”) Corporate Social Responsibility (“CSR”) Report. The report highlights the Company’s progress in environmental impact, workforce development, community investment, and more.
November 19, 2024-- Comtech Telecommunications Corp. (NASDAQCMTL) (“Comtech” or the “Company”), a global technology leader, announced today the appointment of Daniel Gizinski as President of the Company’s Satellite & Space Communications (“S&S”) segment. With extensive industry leadership experience and a collaborative, hands-on approach to solving customer challenges, Gizinski will play a central role in advancing Comtech’s S&S strategy, including its expanding portfolio of next-generation satellite solutions and vision as a pure-play satellite and space communications company.
Comtech Telecommunications Corp. (NASDAQCMTL) (the “Company”), a global technology leader, today announced that its Board of Directors entered into a cooperation agreement with Michael Porcelain, Fred Kornberg, and Oleg Timoshenko (the “Investor Group”). Pursuant to the agreement:
November 14, 2024-- Comtech Telecommunications Corp. (NASDAQCMTL) (“Comtech” or the “Company”), a global technology leader, announced today that the U.S. Navy Information Warfare Systems Command awarded the Company a sole source contract for Comtech’s U.S sovereign software-defined SLM-5650B satellite communications (“SATCOM”) modems, upgrade kits, firmware options and technical support. The contract has a four-year period of performance and is valued in excess of $50.0 million. Funded orders received to date are valued at approximately $2 million.
Oct. 31, 2024-- In a letter to shareholders, Comtech (NASDAQCMTL) today announced that its fourth quarter fiscal 2024 financial results are now available.
Oct. 31, 2024-- Comtech (NASDAQCMTL) today announced that it will be hosting an earnings conference call at 4:30 p.m. ET today, to discuss its fourth quarter and fiscal year 2024 operating results. Individuals can access the conference call by dialing (800) 267-6316 (primary) or (203) 518-9783 (alternate) and using the conference I.D. of “Comtech.” A replay of the conference call will be available for two weeks by dialing (888) 225-1190 or (402) 220-4971. A live webcast of the call will also be available at comtech.com/investors/.
October 30, 2024-- Comtech (NASDAQCMTL) (the “Company”), a global technology leader, today announced that its Board of Directors has appointed John Ratigan as President, Chief Executive Officer and a member of the Board, effective October 28, 2024. Mr. Ratigan has been serving as Comtech’s interim CEO since March 2024. In addition, the Comtech Board appointed Kenneth (Ken) H. Traub as an independent director to the Board, effective October 31, 2024.
