Comtech Telecommunications Corp. Announces Contract Renewal of Approximately $8.4 Million with a Fortune 100 Customer
MELVILLE, N.Y.--(BUSINESS WIRE)-- October 12, 2017-- Comtech Telecommunications Corp. (Nasdaq: CMTL) announced today that during its first quarter of fiscal 2018, its Enterprise Technologies group, which is part of Comtech’s Commercial Solutions segment, has received a contract renewal for a GPS-enabled application from a key Fortune 100 customer. The contract value over the next twelve-months is estimated at $8.4 million.
“This renewal by a Fortune 100 customer demonstrates our continuing leadership in delivering powerful navigation solutions that use 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 many 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.
Michael D. Porcelain, Senior Vice President and Chief Financial Officer
Source: Comtech Telecommunications Corp.