BUZZ-Comtech shares plunge as co expands strategic review to include Satellite & Space Communications unit

Reuters

2025/01/13

** Telecommunications technology company Comtech CMTL.O shares down ~14% to $3.55 premarket

** Co posts Q1'FY25 operating loss of $129.2 million

** CMTL says it is "not providing guidance"

** Separately, co says turnaround exec Ken Traub has replaced John Ratigan as president and CEO to explore strategic alternatives

** CMTL says the board has broadened its strategic review process to include its satellite & space communications unit along with a terrestrial & wireless networks unit

** Co says global workforce reduced by ~13% since July 2024 and expects to incur $1.1 mln of ~$2.8 mln severance costs in Q2 FY25

** CMTL lost ~48.1% of its value in 2024

(Reporting by Rishi Kant in Bengaluru)

((Rishi.Kant@thomsonreuters.com))

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Space Communications unit</title></head><body><p>** Telecommunications technology company Comtech <span>CMTL.O</span> shares down ~14% to $3.55 premarket</p><p>** Co posts Q1'FY25 operating loss of $129.2 million </p><p>** CMTL says it is \"not providing guidance\"</p><p>** Separately, co says turnaround exec Ken Traub has replaced John Ratigan as president and CEO to explore strategic alternatives     </p><p>** CMTL says the board has broadened its strategic review process to include its satellite &amp; space communications unit along with a terrestrial &amp; wireless networks unit</p><p>** Co says global workforce reduced by ~13% since July 2024 and expects to incur $1.1 mln of ~$2.8 mln severance costs in Q2 FY25</p><p>** CMTL lost ~48.1% of its value in 2024</p><p> (Reporting by Rishi Kant in Bengaluru)</p><p> ((Rishi.Kant@thomsonreuters.com))</p></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CMTL","symbol_name":"康姆泰克通訊","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250113:nL4N3O910P:1","article_id":"2503305012","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2503305012","pubTimestamp":1736772155,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"BUZZ-Comtech shares plunge as co expands strategic review to include Satellite & Space Communications unit** Telecommunications technology company Comtech CMTL.O shares down ~14% to $3.55 premarket** Co posts Q1'FY25 operating loss of $129.2 million ** CMTL says it is \"not providing guidance\"** Separately, co says turnaround exec Ken Traub has replaced John Ratigan as president and CEO to explore strategic alternatives     ** CMTL says the board has broadened its strategic review process to include its satellite & space communications unit along with a terrestrial & wireless networks unit** Co says global workforce reduced by ~13% since July 2024 and expects to incur $1.1 mln of ~$2.8 mln severance costs in Q2 FY25** CMTL lost ~48.1% of its value in 2024  ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"CMTL":"康姆泰克通讯","BK4020":"通信设备"},"translate_title":"BUZZ-Comtech股价暴跌，公司扩大战略审查范围，将卫星和空间通信部门纳入其中","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CMTL":0.9},"content_text":"BUZZ-Comtech shares plunge as co expands strategic review to include Satellite & Space Communications unit** Telecommunications technology company Comtech CMTL.O shares down ~14% to $3.55 premarket** Co posts Q1'FY25 operating loss of $129.2 million ** CMTL says it is \"not providing guidance\"** Separately, co says turnaround exec Ken Traub has replaced John Ratigan as president and CEO to explore strategic alternatives     ** CMTL says the board has broadened its strategic review process to include its satellite & space communications unit along with a terrestrial & wireless networks unit** Co says global workforce reduced by ~13% since July 2024 and expects to incur $1.1 mln of ~$2.8 mln severance costs in Q2 FY25** CMTL lost ~48.1% of its value in 2024 (Reporting by Rishi Kant in Bengaluru) ((Rishi.Kant@thomsonreuters.com))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-2","news_tag":"executive","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}