Comtech Telecommunications Corp. Awarded $3.2 Million Contract to Provide Additional Satellite Systems to Support the Brazilian Military

Rhea-AI Summary

On July 19, 2021, Comtech Telecommunications Corp. (NASDAQ: CMTL) announced a $3.2 million follow-on contract awarded by the Brazilian military. This contract aims to supply additional satellite equipment and services for Brazil's Air Traffic Control network. Fred Kornberg, the CEO, expressed satisfaction with the ongoing collaboration, emphasizing the importance of these advanced satellite communication solutions for critical infrastructure. Comtech's global presence spans over 100 countries, serving more than 1,000 customers with secure wireless technologies.

Positive

• Awarded a $3.2 million contract for satellite equipment and services from the Brazilian military.
• Continued collaboration with the Brazilian military indicating strong customer relationship.
• Expansion of Government Solutions segment's market presence.

Negative

• None.

July 19, 2021-- Comtech Telecommunications Corp. (NASDAQ: CMTL), a world leader in secure wireless communications technologies, announced today, that during its fourth quarter of fiscal 2021, its Government Solutions segment was awarded a $3.2 million follow-on contract from the Brazilian military to supply additional satellite equipment and services for its Air Traffic Control network.

“We are pleased that this customer continues to deploy our advanced satellite communication solutions to support their critical infrastructure,” said Fred Kornberg, Chairman of the Board and Chief Executive Officer of Comtech Telecommunications Corp. “We look forward to continuing to work with the Brazilian military on this and future opportunities.”

Comtech Telecommunications Corp. is a leader in the global communications market headquartered in Melville, New York. With a passion for customer success, Comtech designs, produces and markets advanced secure wireless solutions to more than 1,000 customers in more than 100 countries. 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.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20210719005044/en/

FAQ

What recent contract did CMTL secure with the Brazilian military?

Comtech Telecommunications Corp. secured a $3.2 million contract to supply satellite equipment and services for Brazil's Air Traffic Control network.

What is the significance of the contract for CMTL?

The contract signifies ongoing collaboration with the Brazilian military, enhancing Comtech's position in the Government Solutions market.

When was the contract awarded to CMTL?

The contract was awarded on July 19, 2021.

What is the stock symbol for Comtech Telecommunications Corp.?

The stock symbol for Comtech Telecommunications Corp. is CMTL.

How does the contract impact CMTL's financials?

The $3.2 million contract positively impacts CMTL's revenue in the Government Solutions segment.