Comtech Telecom (CMTL) Announces $10M Contract Renewal with Fortune 100 Customer
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Comtech Telecommunications Corp. (Nasdaq: CMTL) announced today that during the first quarter of fiscal 2017, a contract with its Commercial Solutions segment has been renewed for approximately $10.0 million for a one-year period beginning December 1, 2016 through December 1, 2017. Under this contract, Comtech provides a GPS-enabled application to a key Fortune 100 customer.
“This renewal by our customer is a testament to our technological leadership and strength in providing intelligent navigation applications including ones built on our Location Studio™ platform,” said Fred Kornberg, President and Chief Executive Officer of Comtech Telecommunications Corp. “We are pleased to continue to support our Fortune 100 customer and believe we will continue to do so for a number of years ahead.”
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.
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