Comtech Telecommunications Corp. Awarded $1.7 Million Contract Renewal with U.S. Tier-One Mobile Network Operator

Rhea-AI Summary

Comtech Telecommunications Corp. (NASDAQ: CMTL) announced a $1.7 million renewal agreement with a U.S. tier-one mobile network operator during its first quarter of fiscal 2022, bringing total bookings from this customer to over $24 million. The contract involves a hosted turn-key system that interfaces with the carrier's network for enhanced location services. CEO Fred Kornberg emphasized the company's long-term commitment to providing advanced technology to its customers.

Positive

• Secured a $1.7 million renewal contract with a U.S. tier-one mobile operator.
• Total bookings with the Trusted Location customer exceed $24 million.
• Provides a hosted turn-key system that enhances location service capabilities.

Negative

• None.

MELVILLE, N.Y.--(BUSINESS WIRE)-- November 18, 2021-- Comtech Telecommunications Corp. (NASDAQ: CMTL), a leading global provider of next-generation 911 emergency systems and secure wireless communications technologies, announced today, that during its first quarter of fiscal 2022, it was awarded a $1.7 million renewal agreement with a U.S. tier-one mobile network operator. This brings total bookings to-date with this Trusted Location customer to over $24.0 million.

The service is a hosted turn-key system with diverse and redundant connections which interface with the carrier’s network to provide data for location services platforms.

“Comtech is dedicated to supporting this loyal customer with the best technology in location platforms,” said Fred Kornberg, Chairman of the Board and Chief Executive Officer of Comtech Telecommunications Corp. “Our decades-long commitment to this customer demonstrates the trust they have placed in Comtech.”

The contract was awarded to Comtech’s Trusted Location group, 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. 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.comtechtel.com.

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/20211118005274/en/

Comtech Investor Relations:

631-962-7005

investors@comtech.com

Source: Comtech Telecommunications Corp.

FAQ

What is the recent contract award for Comtech Telecommunications Corp. (CMTL)?

Comtech was awarded a $1.7 million renewal agreement with a U.S. tier-one mobile network operator.

How much total revenue has Comtech booked from its Trusted Location customer?

Total bookings from the Trusted Location customer have exceeded $24 million.

What services does Comtech provide under the new agreement?

The agreement includes a hosted turn-key system that enhances location services for the carrier's network.

When was the press release from Comtech about the contract award issued?

The press release was issued on November 18, 2021.