Analyst Summary:
Comtech reported its fiscal Q2 2023 financial results, indicating that its operational and cultural transformation named "One Comtech" has delivered positive results. The company has streamlined its operations, improved collaboration, and accelerated innovation to ensure rapid deployment of solutions. The company reported consolidated net sales of $133.7 million, a sequential increase of 2%, representing its fifth consecutive quarterly increase. Additionally, Comtech reported bookings of $167.5 million, showing a year-over-year increase of 62%, and a book-to-bill ratio of 1.25x. The company expects revenue to grow sequentially between 1% and 3%, and the consolidated Adjusted EBITDA margins to be in the range of 8.5% to 10%. President & CEO Ken Peterman stated that "today, businesses, governments, and individuals around the world are demanding communications infrastructures with the capability to provide seamless connectivity all the time, in every environment and in every imaginable situation. Comtech's innovative technologies are delivering the solutions, capabilities, and services to meet the expanding demand for ubiquitous connectivity."