Comtech Telecom up 16% after raising guidance

Comtech Telecommunications Corp. CMTL, +18.19% shares were up 16% to $29.53 Friday.

The company Thursday increased fiscal 2019 consolidated net sales guidance to $625 million to $640 million, from the prior range of $600 million to $625 million. The company updated its fiscal 2019 EPS target to 95 cents to $1.08. In September, it guided for 89 cents to $1.10.

First-quarter sales were $160.8 million, up from $121.6 million a year earlier. EPS came in at 14 cents, versus a 7-cent loss in the year-ago period.

Write to Michael Dabaie at [email protected]

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