Comtech Telecommunications Corp. Awarded $20.0 Million Additional Funding from U.S. Army
August 5, 2020-- Comtech Telecommunications (News - Alert) Corp. (NASDAQ: CMTL) announced today that during its fourth quarter of fiscal 2020, its Mission-Critical Technologies group, which is part of Comtech's Government Solutions segment, was awarded $20.0 million of additional funding on a previously announced $223.4 million contract to provide Very Small Aperture Terminals ("VSATs") to support the U.S. Army. The contract has been funded $214.9 million to date.
"We are pleased that our government customers continue to trust Comtech to provide this mission essential equipment. We understand the critical importance of these Army units and our team is poised to execute these orders to support the rapid fielding," said Fred Kornberg (News - Alert), Chairman of the Board and Chief Executive Officer of Comech Telecommunications Corp.
The Mission-Critical Technologies group is focused on ensuring its customers are able to successfully carry out their mission, whether that be communicating in an austere environment on land or at sea, launching or tracking a satellite, or protecting the cyber security posture of their network.
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.