Comtech Receives $4.2 Million of Funding for the U.S. Army Sustainment Support of the Blue Force Tracking Program
MELVILLE, N.Y.--(BUSINESS WIRE)-- 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.
Michael D. Porcelain, Senior Vice President and Chief Financial Officer
Source: Comtech Telecommunications Corp.