RTTNews | Oct 5, 2021 10:01AM EDT

10:01 Tuesday, October 5, 2021 (RTTNews.com) - Comtech Telecommunications Corp. (CMTL) shares are sliding more than 11 percent on Tuesday morning trade after the quarterly revenue that declined from prior year missed estimates. Net sales declined to $145.81 million from $149.67 million in the prior year. Analysts were expecting $149.66 million. For the fourth quarter, the company reported net income of $7.36 million or $0.28 per share compared to $1.126 million or $0.04 per share in the previous year. Analysts were looking for earnings of $0.24 per share.

Currently, shares are at $22.43, down 11.62 percent from the previous close of $25.38 on a volume of 234,003. For the 52-week period, the shares have traded in a range of $14.23-$30.40 on a volume of 141,450.

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