Comtech Telecommunications Corp. Awarded $125 Million Contract for Cyber Training

Rhea-AI Summary

Comtech Telecommunications Corp. (NASDAQ: CMTL) announced a contract renewal with the Federal Government worth approximately $125 million for Joint Cyber Analysis Course (JCAC) Training solutions. The five-year Indefinite Delivery Indefinite Quantity (IDIQ) contract includes Firm Fixed Price (FFP) and Time and Materials (T&M) delivery orders. A funded delivery order of $1.4 million has already been received. This contract underscores Comtech's expertise in cybersecurity training, which is critical for the Federal Government's workforce development efforts.

Positive

• Awarded a $125 million contract renewal from the Federal Government.
• First delivery order of $1.4 million received and funded.
• Strengthens position in cybersecurity training for the government.

Negative

• None.

MELVILLE, N.Y.--(BUSINESS WIRE)-- October 4, 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 five-year single award Indefinite Delivery Indefinite Quantity (“IDIQ”) contract renewal with Firm Fixed Price (“FFP”) and Time and Materials (“T&M”) delivery orders valued at approximately $125 million from the Federal Government for the Joint Cyber Analysis Course (“JCAC”) Training solutions. The first delivery order on the IDIQ contract has been received and funded $1.4 million to date.

“The Federal Government’s cyber workforce development efforts are one of our nation’s top priorities. This contract renewal acknowledges our proven track record of excellence in developing and delivering complex cybersecurity operations training at the scale and demanding operational tempo required by our Federal Government customers,” said Fred Kornberg, Chairman of the Board and Chief Executive Officer of Comtech Telecommunications Corp.

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/20211004005251/en/

Comtech Investor Relations:

631-962-7005

investors@comtech.com

Source: Comtech Telecommunications Corp.

FAQ

What is the value of the new contract awarded to Comtech Telecommunications Corp. on October 4, 2021?

The contract awarded is valued at approximately $125 million.

What is the purpose of the contract awarded to Comtech Telecommunications Corp.?

The contract is for Joint Cyber Analysis Course (JCAC) Training solutions.

How much was the first delivery order funded under the new contract for Comtech Telecommunications Corp.?

The first delivery order was funded for $1.4 million.

What type of contract did Comtech Telecommunications Corp. receive from the Federal Government?

Comtech received a five-year Indefinite Delivery Indefinite Quantity (IDIQ) contract.

When was the contract renewal announced for Comtech Telecommunications Corp.?

The contract renewal was announced on October 4, 2021.