Comtech Telecommunications Corp. Signs $8.4 Million Development Contract with Major Telecom Equipment Manufacturer for Global Commercial Wireless Market
May 12, 2016 at 10:00 AM EDT
MELVILLE, N.Y.--(BUSINESS WIRE)--
May 12, 2016--Comtech Telecommunications Corp. (NASDAQ:CMTL)
announced today that during the fourth quarter of fiscal 2016, its
commercial solutions segment has signed an additional multi-year
contract valued at approximately $8.4 million with a major telecom
equipment manufacturer. Under the terms of the development contract, the
telecom equipment manufacturer, who is a global distributor of Comtech's
services, will support the continued roll out of Comtech's advanced
communication solutions to several wireless operators across the globe,
including a large-scale North American-based wireless operator. Today's
announcement comes on the heels of Comtech's announcement last month
that the company had secured a similar contract valued at more than
$12.0 million with this same major telecom equipment manufacturer.
"We are pleased that our customer has signed an additional multi-year
contract and believe this demonstrates their confidence in our wireless
service expertise," said Dr. Stanton Sloane, President and Chief
Executive Officer of Comtech Telecommunications Corp.
Comtech Telecommunications Corp. designs, develops, produces and markets
innovative products, systems and services for advanced communications
solutions. The Company sells products to a diverse customer base in the
global commercial and government communications markets. The Company
believes it is a leader in most of 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.