Comtech's 2Q profits fall 60 percent
Photo credit: Newsday / Alejandra Villa | Fred Kornberg, president and chief executive at defense electronics contractor Comtech Telecomunications Corp. in Melville. (May 15, 2003)
Comtech Telecommunications Corp., a Melville defense-electronics contractor, reported a sharp drop in second-quarter profits Thursday amid a sluggish global economy and uncertainty over the future of government spending in Washington.
Net income dropped 60 percent, to $2.4 million, or 14 cents per share, during November, December and January, compared to the same period a year earlier. Sales...
