Latest news with #Comtech
Yahoo
3 days ago
- Business
- Yahoo
Comtech to Report Third Quarter Fiscal 2025 Results on June 9, 2025
CHANDLER, Ariz., June 04, 2025--(BUSINESS WIRE)--June 4, 2025-- Comtech Telecommunications Corp. (NASDAQ: CMTL) ("Comtech" or the "Company") today announced that it plans to release its third quarter fiscal 2025 results after the market closes on Monday, June 9, 2025. At 5:00 p.m. ET that day, Comtech's leadership team will hold a conference call to discuss the Company's third quarter fiscal 2025 results, operations, and business trends. A real-time webcast of the call will be available to the public at the investor relations section of the Comtech web site at Alternatively, investors can access the conference call by dialing (800) 225-9448 (primary) or (203) 518-9708 (alternate) and using the conference I.D. of "Comtech." A replay of the call will also be available by dialing (800) 934-2123 or (402) 220-1137 through Monday, June 23, 2025. About Comtech Comtech Telecommunications Corp. is a leading provider of satellite and space communications technologies; terrestrial and wireless network solutions; Next Generation 911 (NG911) and emergency services; and cloud native capabilities to commercial and government customers around the world. Through its culture of innovation and employee empowerment, Comtech leverages its global presence and decades of technology leadership and experience to create some of the world's most innovative solutions for mission-critical communications. For more information, please visit Forward-Looking Statements Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results and performance could differ materially from such forward-looking information. The Company's Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such Securities and Exchange Commission filings. View source version on Contacts Investor Relations Maria Ceriello631-962-7102investors@ Media Contact Jamie Longacre Square PartnersComtech@ Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Business Wire
3 days ago
- Business
- Business Wire
Comtech to Report Third Quarter Fiscal 2025 Results on June 9, 2025
CHANDLER, Ariz.--(BUSINESS WIRE)--June 4, 2025-- Comtech Telecommunications Corp. (NASDAQ: CMTL) ('Comtech' or the 'Company') today announced that it plans to release its third quarter fiscal 2025 results after the market closes on Monday, June 9, 2025. At 5:00 p.m. ET that day, Comtech's leadership team will hold a conference call to discuss the Company's third quarter fiscal 2025 results, operations, and business trends. A real-time webcast of the call will be available to the public at the investor relations section of the Comtech web site at Alternatively, investors can access the conference call by dialing (800) 225-9448 (primary) or (203) 518-9708 (alternate) and using the conference I.D. of 'Comtech.' A replay of the call will also be available by dialing (800) 934-2123 or (402) 220-1137 through Monday, June 23, 2025. About Comtech Comtech Telecommunications Corp. is a leading provider of satellite and space communications technologies; terrestrial and wireless network solutions; Next Generation 911 (NG911) and emergency services; and cloud native capabilities to commercial and government customers around the world. Through its culture of innovation and employee empowerment, Comtech leverages its global presence and decades of technology leadership and experience to create some of the world's most innovative solutions for mission-critical communications. For more information, please visit Forward-Looking Statements Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results and performance could differ materially from such forward-looking information. The Company's Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such Securities and Exchange Commission filings.
Yahoo
15-05-2025
- Business
- Yahoo
Ken Traub Flexes Corporate Governance Muscles in Comtech Turnaround
Ken Traub named CEO of Comtech Telecommunications Corp. (NASDAQ: CMTL) in January after joining board in October Traub to oversee turnaround of Comtech, whose shares have lagged for several years Turnaround goals include operational discipline, supporting profitable growth, review of strategic alternatives and a stronger capital structure Comtech already announced $40 million capital infusion to shore up balance sheet Traub swiftly made a deal with activist investor, giving one Comtech board seat and agreeing on a turnaround plan Traub brings extensive track record with corporate governance cleanups, including successful turnaround of American Banknote Holographics American Bank Note Holographics saw a more-than 1,000% increase in shareholder value after sale to JDSU with Mr. Traub as President, CEO and director By John Jannarone and Jarrett Banks From corporate governance shortcomings to balance sheet worries, Ken Traub isn't afraid to roll up his sleeves when he sees a company facing big structural problems. His latest mission: Turning around Comtech Telecommunications Corp. (Nasdaq: CMTL) as its new CEO. Comtech, which provides satellite, wireless and terrestrial technologies for both commercial and military applications, hired Mr. Traub late last year as a director and within three months he ascended to President and CEO. He's been tasked with reviving the company, whose share price has fallen steadily over the last several years. He's targeting a number of initiatives to right the ship, including better operational discipline, a review of strategic alternatives and a stronger capital structure. He's already made a big step on the latter effort, announcing a $40 million capital infusion that helped cure covenant breaches on some debt, lowered interest rates and added financial flexibility. That deal, which was announced just weeks after Mr. Traub became CEO, highlights his ability to work with all stakeholders when a company is under strain. In this case, it was existing holders of Comtech's convertible preferred stock and subordinated debt who agreed to the deal. To appreciate Mr. Traub's skill set, it's important to know more about his unusual history with troubled companies. Most notably, he arrived for his first day on the job at CFO at American Bank Note Holographics, a company with roots in the 18th century as the original printer of U.S. currency, only to quickly discover problems with the books. 'I met with auditors and management and it took me one day to realize SEC misstatements had been made,' Mr. Traub said in an interview with CorpGov. (He noted ironically that American Bank Note Holographics was itself in the business of preventing fraud). It was the start of a wild ride, with Mr. Traub resigning only to be asked to return and advise the company as a consultant. 'I wanted to save the company,' he said. Indeed, Mr. Traub took decisive measures. He believed that the Department of Justice would probably indict the board and orchestrated the departure of all but one director and recruited a new one. Mr. Traub restructured the company's debt and regained the confidence of both creditors and employees, even settling with an activist. Ultimately, the company was sold to JDSU resulting in a 1,000%+ return to shareholders under his leadership as CEO. Mr. Traub took his playbook to more companies in the role of an activist investor with a laser focus on corporate governance improvements. He has worked alongside Starboard Value while it was still part of Ramius and served as Managing Partner, Raging Capital Management, LLC. 'I started identifying public companies that fell out of favor for fixable reasons,' he said. Mr. Traub sees parallels with Comtech and some of his other turnaround efforts. The company, facing an unusual activist attack from two former CEOs, sought Mr. Traub out and invited him to join the board. He said he was drawn to the company because he admired its rich history and important work involving satellite emergency response and applications on the battlefield. Recognizing the challenge of going to a proxy contest, Mr. Traub decided to make a deal with the activist and focus on improving operations immediately. Just after Mr. Traub joined the Board, Comtech was awarded a $50 million contract from the U.S. Navy for its SATCOM modems. At the end of November, he was elevated to Executive Chairman and in January 2025 became President and CEO. Immediately, Mr. Traub recognized serious problems. Some products were being sold at a negative gross margin and he made the decision to exits those lines of business. 'We couldn't hold onto them for cosmetic reasons,' he said. The company has also demonstrated momentum with new product launches since Mr. Traub took the helm as CEO. Those include a new multipath radio platform and the ELEVATE 2.0 multi-orbit satellite communications ('SATCOM') platform. Comtech has a foothold in the critical satellite communications industry, though it serves a different role than Elon Musk's Starlink, which focuses on delivering high-speed, low-latency broadband internet through satellites operating in low Earth orbit. Comtech, on the other hand, provides satellite network equipment, ground station solutions, and technologies that support both satellite and terrestrial communications. Comtech supplies infrastructure that enables satellite communications to function effectively—a feature that also makes it resilient to economic cycles. The company specializes in high-security, mission-critical applications and excels in solving complex, time-sensitive communication challenges. This includes partnerships with the U.S. Navy and Airforce, for whom it supplies anti-jamming modems. The company's financial profile reflects a serious opportunity for Mr. Traub to unlock. Comtech generates about $500 million in annual revenue with positive adjusted Ebitda. It sports a funded backlog of $763.8 million and revenue visibility of approximately $1.6 billion. Comtech is 'in the business of keeping the world safe but it had lost credibility among all stakeholders,' Mr. Traub said. 'We have got to change perspective and deliver.' Contact: Editor@ The post Ken Traub Flexes Corporate Governance Muscles in Comtech Turnaround appeared first on CorpGov. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
31-03-2025
- Business
- Zawya
Ingdan, Inc. Announces 2024 Annual Results
Highlights of the Annual Results for the Year Ended December 31, 202 4: With rising demand for chips from AI technology-related industries, AI chip orders from Comtech continued to grow, driving the Group's revenue up by 14.3% year-on-year to RMB10,129.1 million. The Group recorded a gross profit of approximately RMB889.4 million and a net profit of approximately RMB273.5 million. Profit attributable to equity shareholders of the Company was approximately RMB189.9 million. Ingdan Academy continued to provide technical services and talent training for the industry and has successfully trained over 2,000 chip application engineers, further advancing the development of China's chip industry. HONG KONG SAR – Media OutReach Newswire - 31 March 2025 - Ingdan, Inc. ("Ingdan" or the "Company," Stock Code: together with its subsidiaries, the "Group"), an innovative technology services platform conglomerate with core businesses in "Comtech" and "Ingdan," announces its audited consolidated results for the year ended December 31, 2024 ("2024" or "the Year"). Financial Highlights for the F ull Year of 2024 Benefiting from sustained strong demand for AI computing power and significant growth in chip demand from AI-related industries, the Group's revenue for the Year reached approximately RMB10,129.1 million, representing a year-on-year increase of approximately 14.3% compared to RMB8,863.4 million in 2023. The Group's gross profit was approximately RMB889.4 million, down 13.6% year-on-year; operating profit amounted to approximately RMB427.9 million, down 8.0% year-on-year; and net profit after tax totalled approximately RMB273.5 million, a decrease of 14.5% year-on-year. Increased sales volume to large customers impacted overall gross margins, coupled with higher USD interest costs, leading to a decline in profit attributable to the Company's equity shareholders. Profit attributable to equity shareholders of the Company was approximately RMB189.9 million. As of December 31, 2024, the Group held cash and bank balances (including pledged deposits) of RMB839.7 million, bank loans of RMB1,885.9 million, and inventory value of RMB3,510.5 million. The total number of issued ordinary shares was 1,394,262,732, with a basic weighted average of 1,370,327,000 shares. Empowering Industry Innovation and Operational Efficiency in the AI Computing Power Supply Chain In the current strategic growth phase of the global semiconductor industry, the synergistic evolution of AI, cloud computing, and IoT technologies, combined with breakthroughs in humanoid robotics, is driving exponential growth in global computing power demand. This trend is not only spurring iterative demand for high-performance computing chips such as GPUs and ASICs but also accelerating technological upgrades across the entire industry chain, including high-speed storage chips and intelligent networking equipment, forming an integrated ecosystem from chip design and manufacturing to end applications. Against this backdrop, Comtech, as a core supplier in the AI computing power supply chain, is deeply involved in global computing network development, serving data centers, AI servers, AI switches, optical modules, and diverse AI applications. Comtech collaborates closely with leading global chip manufacturers, acting as an authorized distributor for over 80 core suppliers, including NVIDIA, AMD-Xilinx, Intel, and many leading domestic chipmakers. With years of market expertise, Comtech has accumulated extensive technical experience and industrial resources, enabling it to provide chip application solutions and supply chain management services to tens of thousands of downstream clients. Leveraging proprietary AI technologies, large language models (LLMs), and specialized knowledge bases, Comtech delivers intelligent and automated solutions in chip selection, hardware design, software development, and system integration, significantly enhancing product performance and reliability. Additionally, by applying AI and big data analytics to optimize supply chain management, Comtech improves operational efficiency while reducing costs. Comtech also holds multiple proprietary intellectual properties, including intelligent algorithm libraries, industry-specific LLMs, smart hardware design platforms, adaptive system architectures, and innovative patents, granting it multiple competitive advantages in AI chip applications and intelligent supply chains. By integrating advanced AI technologies with deep industry expertise, Comtech continues to elevate service quality, creating greater value for customers while leading technological innovation in the sector. Expanding into the New Energy Industry, and Driving Digital Transformation of the Chip Industry Through In gdan Academy Ingdan focuses on the new energy sector, developing solutions for two-wheeler battery swapping, re-utilization, and lifecycle management. Its smart battery management platform enables real-time monitoring, improves battery efficiency, and supports traceability from production to recycling. Strategically targeting the two-wheeler battery cloud service market, Ingdan aims to capture opportunities in the RMB100-billion "blue ocean" market, contributing to industry standardization and China's "Dual Carbon" (peak carbon emissions and carbon neutrality) goals. Building on the Group's semiconductor resources, Ingdan Academy introduces cutting-edge chip application technologies to provide technical services and talent training. The Academy collaborates with upstream AI chip manufacturers to promote products and cultivate AI professionals, empowering downstream enterprises to adopt advanced AI solutions. To date, Ingdan Academy has trained over 2,000 chip application engineers, supplying the industry with high-quality talent. Through continuous training and technical support, the Academy is positioning Shenzhen as a global hub for chip applications, and driving national semiconductor industry growth. Outlook Mr. Jeffrey Kang, CEO of Ingdan, Inc., said, "As AI technologies propel digital and intelligent transformations across industries, chip applications, smart hardware, and big data are becoming pivotal. We are actively capturing opportunities in the new AI-driven era, and expanding our presence in the AI industrial chain. Comtech will continue to innovate chip application solutions to meet growing demand for high-performance computing power, solidifying its role as a core supplier in the AI computing power ecosystem. Meanwhile, Ingdan will integrate smart hardware solutions via the 'Ingdan Cloud' to accelerate AI product deployment. By upgrading our service platforms and covering the entire AI value chain, we aim to lead the industry as a pioneer in AI chip applications." Caution Statement The information contained in this document has not been independently verified. No representation, warranty or undertaking, express or implied, is made by the Company or any of its affiliates, advisers or representatives as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of such information or opinions presented or contained herein. The information contained in this document should be considered in the context of the circumstances prevailing at the time, is subject to change without notice and the Company makes no undertaking to update the information in this document to reflect any developments that occur after the date of the presentation. It is not the Company's intention to provide, and you may not rely on these materials as providing, a complete or comprehensive analysis of the Company, or its financial or trading position or prospects. Neither of the Company nor any of its affiliates, advisers or representatives accept any responsibility or have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection with this document. This document may contain statements that reflect the Company's current intent, beliefs, and expectations about the future as of the respective dates indicated herein. These forward-looking statements do not guarantee future performance and are based on a number of assumptions about the Company's operations and factors beyond the Company's control and are subject to significant risks and uncertainties, and accordingly, actual results may differ materially from those described in these forward-looking statements. Neither the Company nor any of its affiliates, advisers or representatives has any obligation, nor do they undertake, to update these forward-looking statements for any events or developments including the occurrence of unanticipated events that occur subsequent to such dates. Hashtag: #Ingdan The issuer is solely responsible for the content of this announcement. About Ingdan, Inc. Ingdan, Inc. (stock code: is an innovative technology services platform conglomerate, connecting upstream chip technology with the needs of downstream innovation enterprises. Through proprietary artificial intelligence (AI) technology, large language models ("LLMs"), and specialized industry knowledge bases, the Group provides our customers with cutting-edge of chip application technology solutions, and efficient supply chain management services. Headquartered in Shenzhen, the Group operates offices and branches across major cities in China, including Hong Kong, Shanghai, Beijing, Wuhan, Chengdu, Nanjing, Hangzhou, and Xi'an, as well as overseas branches in Singapore and Japan. The Group's core businesses are Comtech, a technology services platform for the chip industry, and Ingdan, a platform providing Artificial Intelligence of Things ("AIoT") technology and services. For further information, please refer to the Company's website at Ingdan, Inc.
Yahoo
18-02-2025
- Business
- Yahoo
Comtech Appoints David B. Kagan to its Board of Directors
CHANDLER, Ariz., February 18, 2025--(BUSINESS WIRE)--February 18, 2025-- Comtech Telecommunications Corp. (NASDAQ: CMTL) ("Comtech" or the "Company"), a global communications technology leader, today announced that the Comtech Board of Directors (the "Board") has appointed David (Dave) B. Kagan as an independent director to the Board, effective February 13, 2025. Mr. Kagan has deep experience leading satellite communications companies over the course of his career, which spans more than 35 years. Most recently, he served as CEO of Globalstar, where he drove significant top and bottom line improvements. He also expanded Globalstar's services beyond the legacy of one-way messaging and GPS to focus on satellite IoT and was a key contributor in securing the industry's first service offering enabling direct-to-device satellite capability. Before that, he served in leadership roles at ITC Global, Globe Wireless and Spacenet, among others. "We are delighted to welcome Dave Kagan to the Comtech Board," said Ken Traub, Chairman, President and CEO of Comtech. "Dave brings both deep experience in the satellite industry as well as strength in capital markets, turnarounds and strategic transactions which will be invaluable as we continue to execute on the comprehensive transformation of Comtech." "I am thrilled to join the Comtech Board," said Mr. Kagan. "I look forward to working with my fellow directors and this highly engaged leadership team as it continues to execute on the recently announced strategic transformation." About David B. Kagan Mr. Kagan, 63, served as chief executive officer of Globalstar, Inc. (NASDAQ: GSAT), a leading provider of satellite solutions, from September 2018 to September 2023, where he also served as president and chief operating officer from December 2017 to September 2018 and from January 2016 to March 2017. From March 2017 to November 2017, he was the chief operating officer of SpeedCast International Limited. Mr. Kagan previously served as president of ITC Global LLC from August 2014 to September 2015, and president and chief executive officer of Globe Wireless LLC from June 2011 until it was sold to Inmarsat in August 2014. Prior to that, he served as president and chief executive officer of Maritime Telecommunications Network from January 1997 to December 2008. Mr. Kagan currently serves on the Boards of KVH Industries, Inc. (NASDAQ: KVHI) and AscendArc, Inc., and was inducted into the Satellite Hall of Fame in March 2023. He holds a master's degree of Business Administration from Florida Atlantic University and a bachelor's degree in both Finance and Marketing from the University of South Florida, Tampa. About Comtech Comtech Telecommunications Corp. is a leading provider of satellite and space communications technologies; terrestrial and wireless network solutions; Next Generation 911 (NG911) and emergency services; and cloud native capabilities to commercial and government customers around the world. Through its culture of innovation and employee empowerment, Comtech leverages its global presence and decades of technology leadership and experience to create some of the world's most innovative solutions for mission-critical communications. For more information, please visit Cautionary Note Regarding Forward-Looking Statements Certain information in this press release contains, and oral statements made by our representative from time to time may contain, forward-looking statements. Forward-looking statements can be identified by words such as: "anticipate," "believe," "continue," "could," "estimate," "expect," "future," "goal," "outlook," "intend," "likely," "may," "plan," "potential," "predict," "project," "seek," "should," "strategy," "target," "will," "would," and similar references to future periods. Forward-looking statements include, among others, statements regarding our expectations for our strategic alternatives process, our expectations for further portfolio-shaping opportunities, our expectations for other operational initiatives, future performance and financial condition, the plans and objectives of our management and our assumptions regarding such future performance, financial condition, and plans and objectives that involve certain significant known and unknown risks and uncertainties and other factors not under our control which may cause our actual results, future performance and financial condition to be materially different from the results, performance or other expectations implied by these forward-looking statements. Factors that could cause actual results to differ materially from current expectations are described in our filings with the Securities and Exchange Commission. We urge you to consider all of the risks, uncertainties and factors identified above or discussed in such reports carefully in evaluating the forward-looking statements. The risks described above are not the only risks that we face. We do not intend to update or revise publicly any forward-looking statements, whether because of new information, future events, or otherwise, except as required by law. View source version on Contacts Investor Relations Contact Maria Ceriello631-962-7102investors@ Media Contact Jamie
