Comtech Telecommunications Corp. Awarded $9.8 Million Contract with Tier-One Mobile Network Operator

Rhea-AI Summary

Comtech Telecommunications Corp. (NASDAQ: CMTL) announced a significant $9.8 million contract with a major tier-one mobile network operator for its Location Technologies group during Q3 fiscal 2021. This contract focuses on enhancing virtualized applications and 5G products. Fred Kornberg, CEO, highlighted the stability and mutual benefits derived from the ongoing relationship with this customer, emphasizing their commitment to service enhancements. Comtech provides advanced location, mapping, and messaging solutions globally to various sectors, including public safety and mobile networks.

Positive

• Secured a $9.8 million contract, indicating strong demand for 5G products.
• Ongoing successful relationship with a tier-one mobile network operator enhances stability.

Negative

• None.

May 12, 2021-- Comtech Telecommunications Corp. (NASDAQ: CMTL), a world leader in secure wireless communication technologies, announced today, that during its third quarter of fiscal 2021, its Location Technologies group, a division of Comtech’s Commercial Solutions segment, has finalized a $9.8 million contract with a major tier-one mobile network operator. This contract is for a broad suite of new capabilities and services centered around virtualized applications and 5G products.

“We continue to mutually benefit from the relationship with this customer, and we are already planning additional enhancements for their applications and services,” said Fred Kornberg, Chairman of the Board and Chief Executive Officer of Comtech Telecommunications Corp. “Our proven track record of long-term service to this customer creates stability and value for their end subscribers.”

The Location Technologies group of Comtech Telecommunications Corp. is a leading provider of precise device location, mapping and messaging solutions for public safety, mobile network operators, and enterprise solutions. Sold around the world to mobile network operators, government agencies, and Fortune 100 enterprises, our platforms locate, map, track and message. For more information, visit www.comtechlocation.com.

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/20210512005290/en/

FAQ

What contract did Comtech Telecommunications Corp. secure in May 2021?

Comtech secured a $9.8 million contract with a major tier-one mobile network operator for virtualized applications and 5G products.

What is the focus of the new contract announced by CMTL?

The contract is focused on providing new capabilities and services centered around virtualized applications and 5G technologies.

Who mentioned the benefits of the ongoing relationship with the customer?

Fred Kornberg, Chairman and CEO of Comtech Telecommunications Corp., mentioned the mutual benefits of the relationship.

What does Comtech's Location Technologies group specialize in?

Comtech's Location Technologies group specializes in precise device location, mapping, and messaging solutions for various sectors.

When was the contract announced?

The contract was announced on May 12, 2021.