Comtech Telecommunications Corp. Awarded $4.0 Million of Additional Funding to Develop the U.S. Navy's Advanced Time Division Multiple Access Interface Processor
MELVILLE, N.Y.--(BUSINESS WIRE)-- May 28, 2013--Comtech Telecommunications Corp. (NAS: CMTL) announced today that its Tempe, Arizona-based subsidiary, Comtech EF Data Corp., received a contract modification to its previously announced contract for the development of the Advanced Time Division Multiple Access (TDMA) Interface Processor (ATIP) for the U.S. government's Space and Naval Warfare Systems Command (SPAWAR). This modification funded the remaining $3.0 million of an initial $7.5 million development order and fully funded a $1.0 million option to develop the ATIP Terminal Simulator that will be used to complete testing of the ATIP system. With this contract modification, SPAWAR has funded $8.5 million of the $29.0 million total potential contract value.
The ATIP is a Layer-2 Ethernet bridging device that will be installed on ship, shore and submarine platforms in the Navy Multiband Terminal (NMT).
Fred Kornberg, President and Chief Executive Officer of Comtech Telecommunications Corp. commented, "This next generation development project presents us with a tremendous opportunity to help the U.S. Navy expand its capabilities and reduce communication costs."
Comtech EF Data Corp. is the recognized global leader in satellite bandwidth efficiency and link optimization. The advanced communication solutions encompass the Advanced VSAT Solutions, Modems, RAN & WAN Optimization, Managed Bandwidth and RF products. The Company is recognized as a technology innovator, and has a reputation for exceptional product quality and reliability. The solutions enable commercial and government users to reduce OPEX/CAPEX and to increase throughput for fixed and mobile/transportable satellite-based applications. For more information, visit www.comtechefdata.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.
Michael D. Porcelain, Senior Vice President and Chief Financial Officer
KEYWORDS: United States North America New York
The article Comtech Telecommunications Corp. Awarded $4.0 Million of Additional Funding to Develop the U.S. Navy's Advanced Time Division Multiple Access Interface Processor originally appeared on Fool.com.
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