Comtech Telecommunications Corp. Announces a $1.7 Million Increase in Order Funding to Support the U.S. Army's MTS Program
September 13, 2011 at 1:00 PM EDT
MELVILLE, N.Y., Sept. 13, 2011 (GLOBE NEWSWIRE) -- Comtech Telecommunications Corp. (Nasdaq:CMTL) announced today that its Maryland-based subsidiary, Comtech Mobile Datacom Corporation, received additional funding of $1.7 million for its previously announced $4.6 million order, which was placed under Comtech's existing $384.0 million BFT-1 contract, to support the U.S. Army's Movement Tracking System Program.
The order, now funded up to $6.3 million, provides for the continued supply of MTS satellite bandwidth, satellite network operations, engineering services, and program management support for the period of July 1, 2011 through December 31, 2011. Comtech anticipates that the value of this order may further increase based on final negotiations with the U.S. Army. Total orders received to-date under the $384.0 million BFT-1 contract are $345.6 million.
Fred Kornberg, President and Chief Executive Officer of Comtech Telecommunications Corp., said, "We are pleased to receive this additional funding for the MTS support order issued under our BFT-1 contract, which is intended to provide for uninterrupted delivery of MTS services by Comtech."
Comtech Mobile Datacom Corporation, a Germantown, Maryland-based company, is engaged in the provision of satellite-based packet data communication systems and location and messaging services through the use of advanced communication and network technology. To learn more about Comtech Mobile Datacom, please visit the company's website at www.comtechmobile.com.
Comtech Telecommunications Corp. designs, develops, produces and markets innovative products, systems and services for advanced communications solutions. The Company believes many of its solutions play a vital role in providing or enhancing communication capabilities when terrestrial communications infrastructure is unavailable, inefficient or too expensive. The Company conducts business through three complementary segments: telecommunications transmission, mobile data communications and RF microwave amplifiers. The Company sells products to a diverse customer base in the global commercial and government communications markets. The Company believes it is a market leader in the market segments that it serves.
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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