Comtech Telecommunications Corp. Awarded $2.7 Million in Orders from U.S. Army for Mobile Satellite Equipment

Rhea-AI Summary

Comtech Telecommunications Corp. (NASDAQ: CMTL) announced on October 28, 2020, that its Mission-Critical Technologies group secured an additional $2.7 million in funding on a $124.2 million three-year contract. This contract focuses on providing ongoing sustainment services and baseband equipment, with $105.7 million funded to date. CEO Fred Kornberg emphasized the company's role in supporting the U.S. Army through communication system enhancements and field support. Comtech continues to deliver advanced communication solutions to both commercial and government sectors.

Positive

• Secured an additional $2.7 million funding on a $124.2 million contract.
• $105.7 million of the contract has been funded to date, indicating strong financial backing.

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• None.

MELVILLE, N.Y.--(BUSINESS WIRE)--October 28, 2020-- Comtech Telecommunications Corp. (NASDAQ: CMTL) announced today that during its first quarter of fiscal year 2021, its Mission-Critical Technologies group, which is part of Comtech’s Government Solutions segment, was awarded $2.7 million of additional funding on a previously announced three-year $124.2 million contract to provide ongoing sustainment services and baseband equipment. The contract has been funded $105.7 million to date.

“Comtech continues to remain a trusted provider to the warfighter by refreshing existing communications systems, and providing training and field support around the world,” said Fred Kornberg, Chairman of the Board and Chief Executive Officer of Comtech Telecommunications Corp. “This additional funding re-emphasizes our partnership with the U.S. Army.”

The Mission-Critical Technologies group is focused on ensuring its customers are able to successfully carry out their mission, whether that be communicating in an austere environment on land or at sea, launching or tracking a satellite, or protecting the cyber security posture of their network.

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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