Comtech Telecommunications Corp. Awarded $9.2 Million in Orders from the U.S. Army for Mobile Satellite Equipment

Rhea-AI Summary

Comtech Telecommunications Corp. (NASDAQ: CMTL) announced a $9.2 million funding boost for its Government Solutions segment from the U.S. Army during Q3 fiscal 2021. This funding adds to the $20.7 million already allocated of the $57.9 million ceiling for services related to the Army's AN/TSC-198 satellite terminals. The funding supports system refurbishments, spare parts, repairs, and training, evidencing Comtech's critical role in delivering secure communications. CEO Fred Kornberg highlighted the company's commitment to the Army’s mission.

Positive

• Awarded $9.2 million additional funding, increasing total to $20.7 million of $57.9 million ceiling.
• Continues support for critical Army communication systems, enhancing reliability and security.

Negative

• None.

May 5, 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 was awarded $9.2 million of additional funding on the Army’s previously announced award to provide ongoing system refurbishments, sustainment services and baseband equipment. To-date, the U.S. Army has funded $20.7 million of the $57.9 million base year ceiling. This most recent funding continues to support the sustainment of the Army’s AN/TSC-198 Secret Internet Protocol Router (“SIPR”) and Non-secure Internet Protocol Router (“NIPR”) Access Point (“SNAP”) family of ground satellite terminals, to include spare parts, repairs, upgrades, refurbishments, logistics and engineering services, and training.

“These orders further illustrate that Comtech is making an important contribution to the mission of our U.S. Army customer by delivering reliable, secure communications systems,” said Fred Kornberg, Chairman of the Board and Chief Executive Officer of Comtech Telecommunications Corp.

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/20210505005121/en/

FAQ

What is the recent funding amount awarded to Comtech Telecommunications Corp. by the U.S. Army?

Comtech was awarded $9.2 million in additional funding by the U.S. Army.

How much total funding has Comtech received from the U.S. Army to date?

To date, Comtech has received $20.7 million of the $57.9 million base year ceiling.

What services does the recent funding for Comtech support?

The funding supports system refurbishments, sustainment services, and training for the Army’s satellite terminals.

What is the significance of the contracts awarded to Comtech Telecommunications Corp.?

The contracts underline Comtech's role in providing secure communication systems for the U.S. Army.

Who is the CEO of Comtech Telecommunications Corp.?

The CEO is Fred Kornberg.