Movers and SHAKERS
Outerbridge Starts a Proxy Contest; Nominates 3 for Board Election
Comtech Telecommunications Corp. engages in the design, development, production, and marketing of products, systems, and services for advanced communications solutions in the United States and internationally. It operates in three segments: Telecommunications Transmission, Mobile Data Communications, and RF Microwave Amplifiers. The Telecommunications Transmission segment provides satellite earth station equipment and systems, over-the-horizon microwave systems, and forward error correction technology, which are used in various commercial and government applications, including backhaul of wireless and cellular traffic, broadcasting (including HDTV), IP-based communications traffic, long distance telephony, and secure defense applications. The Mobile Data Communications segment provides mobile satellite transceivers, and computers and satellite earth station network gateways and associated installation, training, and maintenance services; supplies and operates satellite packet data networks, including arranging and providing satellite capacity; and offers microsatellites and related components. The RF Microwave Amplifiers segment designs, develops, manufactures, and markets satellite earth station traveling wave tube amplifiers (TWTA) and broadband amplifiers. Its amplifiers are used in broadcast and broadband satellite communication; defense applications, such as telecommunications systems and electronic warfare systems; and commercial applications comprising oncology treatment systems, as well as to amplify signals carrying voice, video, or data for air-to-satellite-to-ground communications. The company serves satellite systems integrators, wireless and other communication service providers, broadcasters, defense contractors, military, governments, and oil companies. Comtech markets its products through independent representatives and value-added resellers. The company was founded in 1967 and is headquartered in Melville, New York.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Nominates 3 Candidates For Board. Yesterday, Outerbridge Capital Management took the next step in its quest for a review of strategic alternatives with the nomination of three candidates for election to the Company's Board of Directors. The nominees, Wendi Carpenter, Sidney Fuchs, and Jonathan Wackrow, possess deep operational, financial, and strategic experience within the government, satellite, law enforcement, and public safety sectors, according to their bios.
June Letter. Recall, in its June letter seeking a review of strategic alternatives, Outerbridge Capital stated it believes that while "Comtech continues to be a market leader with best-in-class products and strong growth prospects, the Company...remains significantly undervalued." Outerbridge valued CMTL shares in the $32-$40 range. In yesterday's letter, Outerbridge stated that its "due diligence ...
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