Comtech Telecommunications Corp. Receives $26.3 Million of Movement Tracking System Orders
MELVILLE, N.Y., May 11, 2010 (GlobeNewswire via COMTEX News Network) -- Comtech Telecommunications Corp. (Nasdaq:CMTL) announced today that its Maryland-based subsidiary, Comtech Mobile Datacom Corporation, received orders totaling $26.3 million under its Movement Tracking System or MTS contract with the U.S. Army. Total orders received to date against the $672.4 million MTS contract increased to $621.3 million. This order follows Comtech's May 5, 2010 announcement that it received a $67.3 million ceiling increase to its MTS contract.
The multiple equipment orders provide for the supply of Comtech's MT-2012 mobile satellite transceivers, as well as V2 and control station systems, both of which include the MT-2012. Comtech's MT-2012 transceiver features the Savi Technology's ISO-compliant EchoPoint RFID Reader integrated with an encrypted GPS module. Other orders included in this announcement provide for miscellaneous equipment items, engineering support and software upgrades to support the Army's move towards full adoption of the RFID ISO 18000-7 standard.
Fred Kornberg, President and Chief Executive Officer of Comtech Telecommunications Corp., said, "We are pleased to receive these latest MTS orders which demonstrate the continued demand by the Army to field MTS units for its soldiers. This equipment provides U.S. Army logisticians with the latest RFID capabilities required by today's military and we look forward to supporting the future communication requirements of the MTS Program and other critical Department of Defense programs."
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.
Savi Technology is a leading provider of supply chain management and security solutions leveraging software and Automatic Identification and Data Collection (AIDC) technologies, including Radio Frequency Identification (RFID). Savi Technology is a wholly owned subsidiary of Lockheed Martin Corporation (NYSE:LMT).
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.