Comtech Telecommunications Corp. Receives Strategic $200.0 Million IDIQ Contract for Microsatellites
October 13, 2009 at 8:00 AM EDT
MELVILLE, N.Y., Oct 13, 2009 (GlobeNewswire via COMTEX News Network) -- Comtech Telecommunications Corp. (Nasdaq:CMTL) announced today that its Virginia-based subsidiary, Comtech AeroAstro, Inc., has been awarded a contract from the Air Force Research Laboratory ("AFRL") for the development of Advanced Plug and Play Technologies for space missions. The contract is an indefinite delivery/indefinite quantity ("IDIQ") contract with a maximum value of $200.0 million and an order period of five years. The award includes an initial Task Order with a value of $500,000. Additional potential orders are not expected to be received until fiscal 2011.
"Plug and play technologies are changing the paradigm for space mission development," said Fred Kornberg, President and Chief Executive Officer of Comtech Telecommunications Corp. "This contract supports our ongoing work to modularize complex, highly capable satellites and payloads -- so that they can be assembled and launched in a matter of days rather than years -- while improving the fault tolerance and reliability of those systems to support the Air Force's operational space needs."
Mr. Kornberg added, "This award represents tangible evidence that our investment in our microsatellite product line is resulting in new contract awards and growth opportunities. We continue to solidify our position as a source for innovative mission solutions, as the U.S. government looks for lower-cost alternatives to achieving their goals in space."
This project is sponsored by the Air Force Research Laboratory's Space Vehicles Directorate, Kirtland Air Force Base, New Mexico.
This contract is an IDIQ contract, which can be terminated by the AFRL at any time and is not subject to automatic renewal.
Comtech AeroAstro, Inc. is a leader in satellite systems, components, and advanced communications technologies. To learn more about Comtech AeroAstro, please visit the company's website at www.AeroAstro.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.
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.