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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