CMTL FY 2013 Earnings Report — Comtech Telecommunications Corp. Revenue & Financial Results | Market Cap Arena

Comtech Telecommunications Corp.CMTL

FY 2013 Earnings

Reported October 3, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$320M	—	$425M	—	-24.8%
Op. Income	$34M	—	$51M	—	-32.7%
Gross Margin	44.0%	—	43.2%	—	0.9pp
Net Margin	5.6%	—	7.6%	—	-2.1pp
EPS (Diluted)	$0.97	—	$1.42	—	-31.7%
Free Cash Flow	$32M	—	$47M	—	-31.3%

Revenue Flow

Item	Amount
REVENUE	$320M
Cost of Revenue	$179M
GROSS PROFIT	$141M
R&D Expenses	$37M
Selling & Marketing	$0
General & Administrative	$63M
SG&A Expenses	$63M
Other Expenses	$6M
Operating Expenses	$106M
Cost & Expenses	$285M
OPERATING INCOME	$34M
Interest Income	$1M
Interest Expense	$8M
Other Income/Expenses	-$7M
INCOME BEFORE TAX	$27M
Income Tax Expense	$10M
Net Income from Continuing Ops	$18M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$18M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$18M
D&A	$15M
EBIT	$36M
EBITDA	$50M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$320M
Cost of Revenue	$179M
GROSS PROFIT	$141M
R&D Expenses	$37M
Selling & Marketing	$0
General & Administrative	$63M
SG&A Expenses	$63M
Other Expenses	$6M
Operating Expenses	$106M
Cost & Expenses	$285M
OPERATING INCOME	$34M
Interest Income	$1M
Interest Expense	$8M
Other Income/Expenses	-$7M
INCOME BEFORE TAX	$27M
Income Tax Expense	$10M
Net Income from Continuing Ops	$18M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$18M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$18M
D&A	$15M
EBIT	$36M
EBITDA	$50M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$18M
Depreciation & Amortization	$14M
Stock-Based Compensation	$3M
Deferred Income Tax	$1M
Other Non-Cash Items	$284.0K
Change in Working Capital	$1M
OPERATING CASH FLOW	$38M
Capital Expenditure	-$5M
Acquisitions (Net)	-$97M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$97M
NET CASH FROM INVESTING	-$5M
Net Debt Issuance	$0
Common Stock Repurchased	-$27M
Common Dividends Paid	-$19M
Other Financing Activities	$2M
NET CASH FROM FINANCING	-$44M
FREE CASH FLOW	$32M
Net Change in Cash	-$11M

Balance Sheet

Item	Amount
Cash & Equivalents	$357M
Short-Term Investments	$0
Net Receivables	$50M
Inventory	$65M
Other Current Assets	$10M
TOTAL CURRENT ASSETS	$490M
PP&E (Net)	$20M
Goodwill	$137M
Intangible Assets	$33M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$2M
TOTAL NON-CURRENT ASSETS	$192M
TOTAL ASSETS	$682M
Account Payables	$18M
Short-Term Debt	$200M
Deferred Revenue	$15M
Other Current Liabilities	$6M
TOTAL CURRENT LIABILITIES	$269M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$2M
Other Non-Current Liabilities	$7M
TOTAL NON-CURRENT LIABILITIES	$9M
TOTAL LIABILITIES	$278M
Common Stock	$3M
Additional Paid-In Capital	$364M
Retained Earnings	$403M
Treasury Stock	-$366M
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$404M
Minority Interest	$0
TOTAL EQUITY	$404M
TOTAL LIABILITIES & EQUITY	$682M
Total Debt	$200M
Net Debt	-$157M