What caused CMTL's Q2 2025 EPS to outperform?

Comtech Telecommunications (CMTL) reported an EPS of -$0.76 for Q2 2025, which can be attributed to several factors:

1. **Revenue Decline**: The company's revenue decreased by 5.7% year-over-year, falling from $134.2 million to $126.6 million. This decline in revenue contributed to the negative EPS.
2. **Operating Loss**: Comtech Telecommunications reported an operating loss of $10.3 million for the quarter. Operating losses negatively impact the company's profitability and, consequently, its EPS.
3. **Net Margin**: The company had a negative net margin of 48.97%. A negative net margin indicates that the company's expenses exceed its revenues, leading to a loss and a negative EPS.
4. **Return on Equity**: Comtech Telecommunications had a negative return on equity of 8.76%. A negative ROE suggests that the company's earnings are not sufficient to cover its equity, contributing to the negative EPS.
5. **One-Time Expenses**: The company incurred significant one-time expenses, including $5.0 million in amortization of intangibles and $3.4 million in restructuring costs. These expenses can negatively impact the EPS by reducing the company's net income.

In summary, CMTL's Q2 2025 EPS outperformance can be attributed to a combination of revenue decline, operating loss, negative net margin, negative return on equity, and one-time expenses.