Comtech sees FY24 revenue, adusted EBITDA ‘better than FY23’

The company states: “We continue to implement many important lean initiatives and process improvement activities anticipated to drive sustainable, profitable growth in our business. Several of these actions have already contributed to our improved financial performance, affording us the opportunity to report our third consecutive fiscal quarter of positive GAAP operating income since fiscal 2021. As we enter the third quarter of fiscal 2024, as described in more detail in our Q2 FY24 Form 10-Q, business conditions continue to be challenging, and the operating environment is largely unpredictable. Nevertheless, despite these business conditions and resulting challenges and although we anticipate some variability from time to time as we move through our One Comtech transformational change, we are targeting net sales and Adjusted EBITDA* for fiscal year 2024 to be better than fiscal 2023.”