Comtech Telecommunications Corp. Awarded $1.3 Million Renewal from Canadian Carrier

Rhea-AI Summary

On February 16, 2021, Comtech Telecommunications Corp. (NASDAQ: CMTL) announced a $1.3 million renewal agreement for maintenance and support with a Canadian mobile network operator during its second quarter of fiscal 2021. This agreement reinforces Comtech’s established relationship with the carrier, highlighting their role as a trusted partner. The Location Technologies group specializes in precise location, mapping, and messaging solutions for various sectors, including public safety and mobile network operators. The company emphasizes its commitment to supporting its partners in the future.

Positive

• Secured a $1.3 million renewal agreement, enhancing financial stability.
• Strengthened long-term relationship with a Canadian mobile network operator.
• Demonstrated leadership in location technologies with diverse clientele.

Negative

• None.

February 16, 2021 -- 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 second quarter of fiscal 2021, its Location Technologies group, a division of Comtech’s Commercial Solutions segment, has finalized a renewal agreement worth $1.3 million for maintenance and support with a Canadian mobile network operator.

“Comtech has developed a long-standing relationship with this Canadian carrier and we have become a trusted partner in their core business processes,” said Fred Kornberg, Chairman of the Board and Chief Executive Officer of Comtech Telecommunications Corp. “We are deeply honored to support our customer and look forward to servicing them for many years ahead.”

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.

PCMTL

View source version on businesswire.com: https://www.businesswire.com/news/home/20210216005373/en/

FAQ

What is the significance of the $1.3 million agreement for CMTL?

The $1.3 million agreement enhances Comtech's financial stability and reinforces its partnership with a Canadian mobile network operator.

When was the renewal agreement announced by CMTL?

The renewal agreement was announced on February 16, 2021.

What services does the Location Technologies group of CMTL provide?

The Location Technologies group provides precise device location, mapping, and messaging solutions for public safety and mobile network operators.

What type of customers does CMTL serve?

Comtech serves a diverse customer base, including mobile network operators, government agencies, and Fortune 100 enterprises.