US-based Comtech Telecommunications has reported that its net sales for the fourth quarter of fiscal 2008 was $126.5 million compared to $117.8 million for the fourth quarter of fiscal 2007.
GAAP net income was $17 million, or $0.61 per diluted share, for the three months ended July 31, 2008 compared to $17.1 million, or $0.63 per diluted share, for the same period of 2007.
Net sales for the fiscal year ended July 31, 2008 were $531.6 million, compared to $445.7 million for the corresponding period of 2007. GAAP net income was $76.4 million, or $2.76 per diluted share, for the fiscal year 2008 compared to $65.2 million, or $2.42 per diluted share, for the same period of 2007.
Fred Kornberg, president and CEO of Comtech Telecommunications, said: The fourth quarter was an outstanding finish to another record year for Comtech. The acquisition of Radyne Corporation closed on August 1, 2008 and the execution of our integration and restructuring plans is well underway. We continue to see strong demand for our products in all three of our business segments and we believe that fiscal 2009 will be another record year for Comtech, on both the top and bottom line.