Comtech Telecommunications Corp. Announces $5.3 Million Increase in Order Funding to Support the U.S. Army's Blue Force Tracking Program
July 20, 2015 at 10:00 AM EDT
MELVILLE, N.Y.--(BUSINESS WIRE)--
July 20, 2015--Comtech Telecommunications Corp. (NASDAQ:CMTL) announced
today that its Maryland-based subsidiary, Comtech Mobile Datacom
Corporation, received an additional $5.3 million of funding for its
previously announced three-year sustainment contract to support the U.S.
Army's Force XXI Battle Command Brigade and Below - Blue Force Tracking
("BFT-1") program, a battle command real-time situational awareness and
With this funding, the Option Year 1 of both our BFT-1 sustainment
contract and BFT-1 intellectual property license contract has now been
fully funded at the $25.1 million value. The Option Year 1 of the BFT-1
sustainment contract began on April 1, 2015 and ends March 31, 2016. The
Company's BFT-1 sustainment contract and related BFT-1 Intellectual
Property license agreement, both of which were first awarded in April
2014, now have a combined not-to-exceed value of $71.2 million. Total
funding received to-date for both contracts approximates $48.7 million.
Dr. Stanton Sloane, President and Chief Executive Officer of Comtech
Telecommunications Corp., said, "We are pleased to receive this
additional funding and the opportunity to continue to provide our
support for the U.S. Army."
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's 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 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.