Comtech Telecommunications Corp. (CMTL) reported third quarter EPS of $0.32 after the close Thursday, up from $0.17 in the previous year. Analysts expected EPS of $0.18. The company also increased its full year 2014 EPS forecast to between $1.25 and $1.30, from prior expectations of $1.14 to $1.26. The consensus estimate is for EPS of $1.19.
Comtech Telecommunications gapped open sharply higher Friday and climbed throughout the first half of the session. Shares finished with a gain of 5.77 at $38.76 on the highest volume of the year. The stock soared to a new high for the year.
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