Comtech Telecommunications Corp. Receives $27.2 Million of Movement Tracking System Orders
MELVILLE, N.Y., Jan. 4, 2011 (GLOBE NEWSWIRE) -- Comtech Telecommunications Corp. (Nasdaq:CMTL) announced today that its Maryland-based subsidiary, Comtech Mobile Datacom Corporation, received orders totaling $27.2 million under its Movement Tracking System or MTS contract with the U.S. Army.
These multiple orders provide for the supply of MT-2012 satellite transceivers, V2 system components, vehicle installation kits, miscellaneous equipment items, software licenses, and engineering & technical support services.
Fred Kornberg, President and Chief Executive Officer of Comtech Telecommunications Corp., said, "We are pleased to receive these latest MTS orders which we believe demonstrate the U.S. Army's continued confidence in Comtech's ability to support the U.S. Army's operational needs."
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). Comtech's MT-2012 transceiver features the Savi Technology's ISO-compliant Echo Point RFID Reader integrated with an encrypted GPS module.
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.
CONTACT: Comtech Telecommunications Corp.
Michael D. Porcelain, Senior Vice President and
Chief Financial Officer