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Comtech Telecomm. Corp.(NASDAQ:CMTL) Telecommunications Jumps 15% to 5-Year High

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By on Technology & Software

Comtech Telecomm. Corp.(NASDAQ:CMTL) has climbed to a five-year high after the company reported late Thursday better-than-expected financial results for Q3, or the quarter ended April 30, 2014, and raised its guidance for fiscal 2014 above analysts’ expectations. 

Shares are now up 10.22% at $36.36, and reached $36.49 – the highest since February 2009. 

The company, which designs, develops, produces and markets advanced communications solutions, reported Q3 GAAP earnings of $5.9 million or $0.32 per share, compared with $2.9 million or $0.17 per share in the prior-year period. The Capital IQ GAAP estimate is for $0.22 EPS. 

Revenue was $88.9 million, up from $69.9 million in the same quarter last year. Analysts were expecting revenue of $78.65 million. 

The company now expects fiscal 2014 GAAP EPS of $1.25 – $1.30 on revenue of $342 million – $346 million. This was raised from the previous guidance of $1.14 – $1.26 GAAP EPS on revenue of $325 million – $345 million. The Street view is for GAAP EPS of $1.20 on revenue of $336.38 million. 

Separately, the company said its board of directors declared a quarterly cash dividend of $0.30 per share, payable on Aug. 19, 2014, to shareholders of record at the close of business on July 18, 2014. 

This is maintained from the previous dividend paid to shareholders on May 30, 2014. 

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