COMTECH TELECOMMUNICATIONS CORP DE
For the period ended Jul 31, 2024. Filed Oct 30, 2024.
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FY2024 · Filed Oct 30, 2024
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Item 7. Results of Operations
The following table sets forth, for the periods indicated, certain income and expense items expressed as a percentage of our consolidated net sales:
| Fiscal Years Ended July 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Gross margin | 29.1% | 33.5% | 37.0% |
| Selling, general and administrative expenses | 22.8% | 21.8% | 23.6% |
| Research and development expenses | 4.5% | 8.8% | 10.8% |
| Amortization of intangibles | 3.9% | 3.9% | 4.4% |
| Impairment of long-lived assets, including goodwill | 11.9% | —% | —% |
| CEO transition costs | 0.5% | 1.7% | 2.8% |
| Loss on business divestiture | 0.2% | —% | —% |
| Proxy solicitation costs | —% | —% | 2.3% |
| Operating loss | (14.8)% | (2.7)% | (6.9)% |
| Interest expense and other items | 3.8% | 2.9% | 0.7% |
| Loss before benefit from income taxes | (18.6)% | (5.6)% | (7.6)% |
| Net loss | (18.5)% | (4.9)% | (6.8)% |
| Net loss attributable to common stockholders | (25.1)% | (6.2)% | (8.9)% |
| Adjusted EBITDA (a Non-GAAP measure) | 8.5% | 9.7% | 8.1% |
For a definition and explanation of Adjusted EBITDA, see "Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations - Comparison of Fiscal 2024 and 2023 - Adjusted EBITDA."
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