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Comtech Announces Transformation Strategy and Capital Structure Update
Comtech (NASDAQ: CMTL) announced a transformation strategy to become a pure-play satellite and space communications company. The Board of Directors is exploring strategic alternatives for its Terrestrial & Wireless Networks (T&W) segment, which has shown strong performance in fiscal 2024. The company is also implementing operational initiatives to align its cost structure with this new focus.
Comtech has amended its credit facility and entered into a new $25 million subordinated unsecured term loan facility. The company expects to realize approximately $10 million in annual cash savings after exiting its U.K. operations. Comtech anticipates reporting lower-than-expected performance in Q4, primarily in its Satellite & Space Communications (S&S) segment.
Comtech has amended its credit facility and entered into a new $25 million subordinated unsecured term loan facility. The company expects to realize approximately $10 million in annual cash savings after exiting its U.K. operations. Comtech anticipates reporting lower-than-expected performance in Q4, primarily in its Satellite & Space Communications (S&S) segment.
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