MELVILLE, N.Y. –
September 25, 2017– Comtech Telecommunications Corp. (Nasdaq:CMTL)
announced today that its Command & Control Technologies group, which is
part of Comtech’s Government Solutions segment, was awarded contract
modifications totaling $4.2 million. Of this amount, $3.0 million was
received during its fourth quarter of fiscal 2017 and $1.2 million was
received during its first quarter of fiscal 2018. This additional
funding applies to the original award in April 2017, which today totals
$7.7 million of the total potential value of the base year. These
modifications fulfilled the Government’s obligation to fund the Firm
Fixed Price (FFP) portion of the contract.
These contract modifications are part of the five-year BFT-1 sustainment
support contract for the U.S. Army’s Project Manager Mission Command (PM
MC) Blue Force Tracking (“BFT-1”) program. Comtech continues to perform
engineering services, satellite network operations and program
management through a Firm Fixed Price (FFP) contract with Time &
Materials (T&M) and Cost Reimbursement elements. The base performance
period began April 15, 2017 and ends April 14, 2018, and the contract
provides for four twelve-month option periods exercisable by GSA.
“We are pleased that our Army customer recognizes the value of Comtech’s
services,” said Fred Kornberg, President and Chief Executive Officer of
Comtech Telecommunications Corp. “Comtech is committed to providing the
Army and its soldiers with the highest level of support to enable them
to complete their missions.”
BFT-1 is a battle command, real-time situational awareness and control
system. Under the five-year BFT-1 sustainment contract, Comtech performs
engineering services, satellite network operations and program
management.
The Command & Control Technologies group is a leading provider of
mission-critical, highly-mobile C4ISR solutions.
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.
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.
PCMTL
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Media Contact:
Michael D. Porcelain, Senior Vice President
and Chief Financial Officer
(631) 962-7000
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