Comtech Telecommunications Corp. Wednesday posted lower sales and net income for the quarter ended Oct. 31 on weakness in its telecommunications transmission business.
The Melville maker of communications systems for military and civilian markets reported that first quarter sales fell 16.1 percent compared to the year-earlier quarter, to $64.1 million.
Net income was $1.4 million, or 9 cents per diluted share, versus $5.2 million, or 32 cents per diluted share, in the year-earlier period.
The company maintained its fiscal 2016 revenue guidance of $300 million to $310 million.
Stanton Sloane, president and chief executive, said in a statement that the $430.8 million acquisition of Maryland-based TeleCommunications Systems Inc. announced in November will improve the company’s outlook.
“I believe that the acquisition of TCS is a turning point for Comtech and I am excited about the growth opportunities that are ahead of us,” he said.
Shares of Comtech were at $20.90 in after-hours trading following the earnings release.