Comtech Telecommunications Corp. Signs $8.4 Million Development Contract with Major Telecom Equipment Manufacturer for Global Commercial Wireless Market
By Business Wire News
By Business Wire News
May 12, 2016-–Comtech Telecommunications Corp. (NASDAQ:CMTL) announced today that during the fourth quarter of fiscal 2016, its commercial solutions segment has signed an additional multi-year contract valued at approximately $8.4 million with a major telecom equipment manufacturer. Under the terms of the development contract, the telecom equipment manufacturer, who is a global distributor of Comtech’s services, will support the continued roll out of Comtech’s advanced communication solutions to several wireless operators across the globe, including a large-scale North American-based wireless operator. Today’s announcement comes on the heels of Comtech’s announcement last month that the company had secured a similar contract valued at more than $12.0 million with this same major telecom equipment manufacturer.
“We are pleased that our customer has signed an additional multi-year contract and believe this demonstrates their confidence in our wireless service expertise,” said Dr. Stanton Sloane, President and Chief Executive Officer of Comtech Telecommunications Corp.
Comtech Telecommunications Corp. designs, develops, produces and markets innovative products, systems and services for advanced communications solutions. The Company sells products to a diverse customer base in the global commercial and government communications markets. The Company believes it is a leader in most of 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