Comtech Telecommunications Corp. Announces a Contract Renewal Worth $4.2 Million with Tier-One Carrier
Comtech Telecommunications Corp. (NASDAQ: CMTL) announced a $4.2 million contract renewal for location and mapping technologies with a tier-one mobile network operator during Q1 of fiscal 2021. This agreement underscores Comtech's expertise in location services, especially critical during the COVID-19 pandemic. The company's Location Technologies group provides advanced solutions for public safety, mobile operators, and enterprises globally. Forward-looking statements in the release highlight inherent risks and uncertainties that could affect actual results.
- Contract renewal worth $4.2 million enhances revenue stability.
- Strengthened relationships with tier-one mobile network operators.
- Potential risks and uncertainties highlighted in forward-looking statements may impact future performance.
MELVILLE, N.Y.--(BUSINESS WIRE)--November 16, 2020 -- Comtech Telecommunications Corp. (NASDAQ: CMTL), a world leader in secure and highly reliable location, public safety, navigation, and communication technologies, announced today, that during its first quarter of fiscal 2021, its Location Technologies group, a division of Comtech’s Commercial Solutions segment, has finalized a contract renewal for location and mapping technologies worth
“This long-standing service agreement represents the superior development, engineering and support operations for location and mapping Comtech is known for,” said Fred Kornberg, Chairman of the Board and Chief Executive Officer of Comtech Telecommunications Corp. “This customer has come to rely on Comtech’s unsurpassed service, which has become all the more imperative during the COVID-19 pandemic.”
The Location Technologies group of Comtech Telecommunications Corp. is a leading provider of precise device location, mapping and messaging solutions for public safety, mobile network operators, and enterprise solutions. Sold around the world to mobile network operators, government agencies, and Fortune 100 enterprises, our platforms locate, map, track and message. For more information, visit www.comtechlocation.com.
Comtech Telecommunications Corp. designs, develops, produces and markets innovative products, systems and services for advanced communications solutions. The Company sells products to a diverse customer base in the global commercial and government communications markets.
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.
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