The changes my leadership team has implemented at Comtech over the 2023 fiscal year are creating significant competitive advantage for us. Today, we’re competing on the value we are delivering to our customers in a currency they understand. These recent contracts I believe represent only the beginnings of new customer engagements, and it is clear we are establishing valuable, long-term partnerships that we intend to continue to expand upon as we look to the future. For our shareholders, it means that Comtech’s investments in optimizing operational performance, improving process discipline and applying technology innovation are delivering revenues that create value today. Before I turn to Mike to talk about our results in detail, let me make one last observation about this quarter’s financial performance.
When I first started as CEO a year or so ago, it was clear that maintaining the status quo was not an option. The onus was on Comtech and its leadership to regain the confidence of our investors, and the only way to do that was through accelerating the decisive and total transformation of the organization. For our investors, this transformation is already translating into improved financial performance. I want to be sure to highlight the following. As a clear indication, we’re on the right path. Over the course of the past four quarters, the work we’ve done at Comtech has resulted in our consolidated net sales increasing sequentially every quarter of the fiscal year. Our adjusted EBITDA margins have also increased sequentially every quarter of the fiscal year.
Structurally, Comtech has undergone a series of thoughtful strategic changes that are beginning to manifest in margin improvement and growth. These encompass all aspects of our business, from identifying redundancies within the organization to supply chain management and implementing key performance indicators to ensure we’re meeting our customer commitments, all of which I’ve spoken about over the past three quarters, and we delved into much deeper during our Investor Day in June. During our Investor Day, both Maria Hedden, our COO, and Mike Bondi, our CFO, detailed multiple initiatives that we are implementing to drive operational efficiencies wherever we can. For those of you that may have missed Investor Day, you can find the full presentation and video on the Investor page of our website.
And we noted that not only did we identify opportunities ahead of us that would benefit our top-line, we believe we can achieve annual double-digit sales growth over time with significant opportunities to simultaneously drive enduring margin improvement. We are confident that while sales will grow, our margins will grow faster. Now, let me turn to Mike to talk about our results in detail. Mike?
Mike Bondi: Thanks, Ken. For Q4 fiscal 2023, we recorded $148.8 million of consolidated net sales, of which $94.2 million were reported in our Satellite and Space Communications segment and $54.6 million were reported in our Terrestrial and Wireless Network segment. Consolidated fourth quarter sales represented a 9.2% increase over last quarter and our seventh consecutive quarterly increase. Compared to the year-ago quarter, our consolidated Q4 fiscal 2022 net sales increased $21.8 million or 17.2%, reflecting higher net sales in both of our segments. Consolidated net sales for fiscal 2023 were $550 million, of which $337.8 million were related to our Satellite and Space Communication segment and $212.2 million were reported in our Terrestrial and Wireless Network segment.
Consolidated gross margins for Q4 and the fiscal year 2023 were 32.7% and 33.5%, respectively, and 35.9% and 37% in the comparable periods of the prior year. The 32.7% we achieved this past quarter reflects a sequential increase from the 31.7% reported in the third quarter of fiscal 2023. Such changes reflect an increase in net sales and overall product mix changes, primarily driven by higher net sales of our troposcatter and SATCOM solutions to U.S. government and international customers in our Satellite and Space Communications segment, including performance on our next-generation troposcatter terminals for the U.S. Marine Corps and VSAT equipment for the U.S. Army. Operating income in Q4 of fiscal 2023 was $1.1 million compared to an operating loss of $2.1 million in Q4 of fiscal 2022.
