CMTL FY 2011 Earnings Report — Comtech Telecommunications Corp. Revenue & Financial Results | Market Cap Arena

Comtech Telecommunications Corp.CMTL

FY 2011 Earnings

Reported September 27, 2011

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2011	Prior Q	FY 2010	QoQ Change	YoY Change
Revenue	$612M	—	$778M	—	-21.3%
Op. Income	$108M	—	$104M	—	3.7%
Gross Margin	39.4%	—	34.8%	—	4.6pp
Net Margin	11.1%	—	7.8%	—	3.3pp
EPS (Diluted)	$2.22	—	$1.91	—	16.2%
Free Cash Flow	$90M	—	$117M	—	-22.9%

Revenue Flow

Item	Amount
REVENUE	$612M
Cost of Revenue	$371M
GROSS PROFIT	$241M
R&D Expenses	$44M
Selling & Marketing	$0
General & Administrative	$94M
SG&A Expenses	$94M
Other Expenses	$8M
Operating Expenses	$146M
Cost & Expenses	$517M
OPERATING INCOME	$108M
Interest Income	$2M
Interest Expense	$8M
Other Income/Expenses	-$6M
INCOME BEFORE TAX	$102M
Income Tax Expense	$34M
Net Income from Continuing Ops	$68M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$68M
Net Income Deductions	$4M
BOTTOM LINE NET INCOME	$72M
D&A	$12M
EBIT	$110M
EBITDA	$133M
EPS	$3
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$612M
Cost of Revenue	$371M
GROSS PROFIT	$241M
R&D Expenses	$44M
Selling & Marketing	$0
General & Administrative	$94M
SG&A Expenses	$94M
Other Expenses	$8M
Operating Expenses	$146M
Cost & Expenses	$517M
OPERATING INCOME	$108M
Interest Income	$2M
Interest Expense	$8M
Other Income/Expenses	-$6M
INCOME BEFORE TAX	$102M
Income Tax Expense	$34M
Net Income from Continuing Ops	$68M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$68M
Net Income Deductions	$4M
BOTTOM LINE NET INCOME	$72M
D&A	$12M
EBIT	$110M
EBITDA	$133M
EPS	$3
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$68M
Depreciation & Amortization	$22M
Stock-Based Compensation	$0
Deferred Income Tax	$761.0K
Other Non-Cash Items	$73M
Change in Working Capital	-$5M
OPERATING CASH FLOW	$97M
Capital Expenditure	-$7M
Acquisitions (Net)	-$3M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$10M
Net Debt Issuance	-$539.0K
Common Stock Repurchased	-$120M
Common Dividends Paid	-$20M
Other Financing Activities	$4M
NET CASH FROM FINANCING	-$136M
FREE CASH FLOW	$90M
Net Change in Cash	-$49M

Balance Sheet

Item	Amount
Cash & Equivalents	$559M
Short-Term Investments	$0
Net Receivables	$71M
Inventory	$75M
Other Current Assets	$12M
TOTAL CURRENT ASSETS	$723M
PP&E (Net)	$27M
Goodwill	$137M
Intangible Assets	$45M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$5M
TOTAL NON-CURRENT ASSETS	$214M
TOTAL ASSETS	$938M
Account Payables	$24M
Short-Term Debt	$0
Deferred Revenue	$11M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$96M
Long-Term Debt	$200M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$2M
Other Non-Current Liabilities	$10M
TOTAL NON-CURRENT LIABILITIES	$212M
TOTAL LIABILITIES	$308M
Common Stock	$3M
Additional Paid-In Capital	$355M
Retained Earnings	$393M
Treasury Stock	-$122M
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$629M
Minority Interest	$0
TOTAL EQUITY	$629M
TOTAL LIABILITIES & EQUITY	$938M
Total Debt	$200M
Net Debt	-$359M