LA PLATA, Maryland — Comtech Telecommunications Corp. reported reported increased revenue and operating profit for the three months ending Oct. 31 but has been unable to close the refinancing of its credit facility, which expires in October, putting stresses on its balance sheet.
Comtech Chief Financial Officer Michael A. Bondi said the company’s recent financial performance, including several consecutive quarters of growth, should help unblock the debt refinancing, but that it hasn’t happened yet.
Comtech in November sold its solid-state power amplifier division to
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