Comtech Awarded Incremental Funding to Supply Troposcatter Equipment in Support of U.S. Military Next Generation Troposcatter System

Rhea-AI Summary

Comtech (NASDAQ: CMTL) announced on October 27, 2022, that it received over $50 million in incremental funding for an existing contract to provide next-generation troposcatter systems for the U.S. military. This funding reinforces Comtech's status as a leader in modernized troposcatter technologies, ensuring reliable connectivity for its customers. The company has over 50 years of experience in the sector, emphasizing its commitment to secure communications.

Positive

• Awarded over $50 million in incremental funding.
• Strengthens existing contract with U.S. military.
• Reinforces leadership position in troposcatter technologies.

Negative

• None.

MELVILLE, N.Y.--(BUSINESS WIRE)-- October 27, 2022-- Comtech (NASDAQ: CMTL) announced today that during its first quarter of fiscal 2023, the Company was awarded over $50.0 million of incremental funding on an existing contract to provide next generation troposcatter systems in support of the U.S. military. For over 50 years, Comtech has been a world leader in the design and supply of modernized troposcatter technologies. Our Troposcatter Family of Systems are just one way that Comtech helps to ensure that our customers can count on secure, uninterrupted connectivity where (and when) it matters most.

About Comtech

Comtech Telecommunications Corp. is a leading global provider of next-generation 911 emergency systems and secure wireless communications technologies to commercial and government customers around the world. Headquartered in Melville, New York and with a passion for customer success, Comtech designs, produces and markets advanced and secure wireless solutions. For more information, please visit www.comtech.com or see our Signals blog at https://www.comtech.com/comtech-signals/.

Forward-Looking Statements

Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results could differ materially from such forward-looking information. The Company’s Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such Securities and Exchange Commission filings.

PCMTL

View source version on businesswire.com: https://www.businesswire.com/news/home/20221027006153/en/

Investor Relations

Robert Samuels

631-962-7102

robert.samuels@comtech.com

Source: Comtech Telecommunications Corp.

FAQ

What funding did Comtech (CMTL) announce in October 2022?

Comtech announced over $50 million in incremental funding for next-generation troposcatter systems for the U.S. military.

How does the new funding impact Comtech (CMTL)?

The new funding strengthens Comtech's existing contract with the U.S. military and reinforces its leadership in modernized troposcatter technologies.

What is Comtech's expertise in telecommunications?

Comtech is a leading provider of secure wireless communications technologies with over 50 years of experience in the design of troposcatter systems.