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Comtech Telecommunications Corp. (CMTL) Pulled Back Sharply On Weak Guidance

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Comtech Telecommunications Corp. (CMTL: Quote) reported first quarter GAAP net income of $0.36 per share after the bell Thursday, down from $0.47 a year ago. Second quarter GAAP EPS is expected to be between $0.10 and $0.12. The company also lowered its full year 2013 GAAP EPS forecast to between $1.26 and $1.34, from prior guidance of $1.40 to $1.50.

Comtech Telecommunications gapped open sharply lower Friday, but recovered some ground late in the morning. The stock ended the day down by 1.67 at $24.13, with volume at over an 11-month high. Comtech closed testing the lows of the year.

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by RTT Staff Writer

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