04:30 AM EDT, 10/18/2024 (MT Newswires) -- Comtech Telecommunications ( CMTL ) said late Thursday it is exploring strategic alternatives for its terrestrial and wireless networks segment to boost profitability.

The company said there is no guarantee the exploration will result in a transaction or significant changes, and there is no set timeline for the process.

Comtech is also working with independent advisers to realign its cost structure with a focused strategy on satellite and space communications.

The potential divestiture and target portfolio optimization will better position the company to seize growth opportunities and strengthen its balance sheet, Comtech said.

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