Comtech Telecommunications Corp. Announces $12.2 Million Increase in Order Funding to Support U.S. Army's BFT and MTS Programs
November 8, 2011 at 10:00 AM EST
MELVILLE, N.Y., Nov. 8, 2011 (GLOBE NEWSWIRE) -- Comtech Telecommunications Corp. (Nasdaq:CMTL) announced today that its Maryland-based subsidiary, Comtech Mobile Datacom Corporation, received additional funding of $11.7 million and $0.5 million to support the U.S. Army's Blue Force Tracking ("BFT-1") Program and Movement Tracking System ("MTS") Program, respectively. Total orders received to-date under the $384.0 million BFT-1 contract are $357.8 million.
These order funding increases relate to $51.7 million of BFT-1 orders (previously announced on April 4, 2011) and an aggregated $6.3 million of MTS orders (previously announced July 15, 2011 and September 13, 2011). All of these orders, together with these related order funding increases, have now been finalized and provide for the continued supply of satellite bandwidth, satellite network operations, engineering services, program management and related professional support services to the U.S. Army for the MTS and BFT-1 Programs through December 31, 2011 and March 31, 2012, respectively.
The Company also announced that it continues to have ongoing discussions with the U.S. Army related to a potential multi-year sustainment contract to support the BFT-1 and MTS Programs.
Fred Kornberg, President and Chief Executive Officer of Comtech Telecommunications Corp., said, "We are pleased to receive this additional funding to provide delivery of MTS and BFT-1 services by Comtech to the U.S. Army. We believe this increase in funding continues to demonstrate the ongoing importance of the U.S. Army's BFT-1 satellite tracking and communication system."
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, RF microwave amplifiers and mobile data communications. 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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