Comtech Telecommunications Corp. Receives $51.1 Million Contract to Provide the Next Phase of a Tele
Comtech Telecommunications Corp. Receives $51.1 Million Contract to Provide the Next Phase of a Telecommunications System for Use by an African Government
MELVILLE, N.Y.--(BUSINESS WIRE)-- August 5, 2013--Comtech Telecommunications Corp. (NAS: CMTL) announced today that in July its Orlando, Florida-based subsidiary, Comtech Systems, Inc., received a $51.1 million contract from a domestic prime contractor to design and furnish the next phase of a telecommunications system for use in an African government's communications network.
The system is comprised of both fixed and transportable transmission systems. Comtech's performance on this contract, exclusive of the warranty period, is expected to occur over a four-year timeframe.
The Company also announced that it has received a $3.4 million order for incremental funding on the current phase of the same project.
In commenting on this important award, Fred Kornberg, President and Chief Executive Officer of Comtech Telecommunications Corp., stated, "We are pleased to receive this contract for the next phase of this important program. We look forward to working with this prime contractor and the foreign end-customer on this and future opportunities."
Comtech Systems, Inc. (www.comtechsystems.com) specializes in system design, integration, supply and commissioning of turnkey communication systems including over-the-horizon microwave, line-of-sight microwave and satellite.
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 Florida New York Africa
The article Comtech Telecommunications Corp. Receives $51.1 Million Contract to Provide the Next Phase of a Telecommunications System for Use by an African Government originally appeared on Fool.com.
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