Comtech Telecommunications Corp. Awarded $6.2 Million of Additional Funding to Support the U.S. Army’s Blue Force Tracking System

Rhea-AI Summary

Comtech Telecommunications Corp. (NASDAQ: CMTL) has secured $6.2 million in additional funding for Option Period Four of its BFT-1 sustainment support contract with the U.S. Army, bringing the total value of the contract to $35.5 million. This contract supports the Army’s Project Manager Mission Command Blue Force Tracking program and includes engineering services, satellite network operations, and program management. The performance period for Option Period Four runs from April 15, 2021, to April 14, 2022. Comtech emphasizes its commitment to delivering critical services to the U.S. Army.

Positive

• Secured $6.2 million in additional funding.
• Total contract value increased to $35.5 million.
• Continued support for U.S. Army's Blue Force Tracking program.

Negative

• None.

May 3, 2021-- Comtech Telecommunications Corp. (NASDAQ: CMTL), a world leader in secure wireless communications technologies, announced today, that during its third quarter of fiscal 2021, its Government Solutions segment, through its Maryland-based subsidiary, Comtech Mobile Datacom Corporation, was awarded $6.2 million of additional funding for Option Period Four of contract GS03Q17DSC0002. The overall funded value to date, inclusive of the Base and Option Period 1 through Option Period 4, is $35.5 million.

This contract modification is part of the BFT-1 sustainment support contract for the U.S. Army’s Project Manager Mission Command (“PM MC”) Blue Force Tracking (“BFT-1”) program. Comtech continues to perform engineering services, satellite network operations and program management through a Firm Fixed Price (“FFP”) contract, with Time & Materials (“T&M”) and Cost Reimbursement elements. Option Period Four’s performance period began on April 15, 2021 and ends on April 14, 2022.

“We are pleased our U.S. Army continues to recognize the value of Comtech’s services,” said Fred Kornberg, Chairman of the Board and Chief Executive Officer of Comtech Telecommunications Corp. “Our team remains committed to providing the U.S. Army and its soldiers with critical BFT-1 sustainment support.”

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.

PCMTL

View source version on businesswire.com: https://www.businesswire.com/news/home/20210503005136/en/

FAQ

What contract did Comtech Telecommunications Corp. secure additional funding for in 2021?

Comtech Telecommunications Corp. secured $6.2 million in additional funding for the BFT-1 sustainment support contract with the U.S. Army.

What is the total value of Comtech's contract with the U.S. Army as of May 2021?

As of May 2021, the total value of Comtech's contract with the U.S. Army increased to $35.5 million.

What is the performance period for Option Period Four of the contract?

The performance period for Option Period Four began on April 15, 2021, and ends on April 14, 2022.

What services does Comtech provide under the BFT-1 contract?

Under the BFT-1 contract, Comtech provides engineering services, satellite network operations, and program management.