Comtech Telecommunications Corp. Receives $27.5 Million Blue Force Tracking Contract Ceiling Increase and Provides BFT Contract Update
finance.yahoo.com
MELVILLE, N.Y., Feb. 25, 2010 (GLOBE NEWSWIRE) -- Comtech Telecommunications Corp. (Nasdaq:CMTL) announced today that its Maryland-based subsidiary, Comtech Mobile Datacom Corporation, received a $27.5 million ceiling increase to its Blue Force Tracking ("BFT-1") program contract with the U.S. Army. The total contract ceiling for its current BFT contract is now $243.5 million and expires December 2011.
Since our BFT contract was previously near its ceiling limit, the ceiling increase enables Comtech to continue to provide uninterrupted satellite airtime capacity as well as communications equipment and network management services, and related support for FBCB2-BFT, a battle command real-time situational awareness command and control system.
Fred Kornberg, President and Chief Executive Officer of Comtech Telecommunications Corp., said, "We are extremely pleased to receive this BFT contract ceiling increase and we are encouraged that there will be future contract ceiling increases under our existing BFT contract to continue to provide a full spectrum of equipment and satellite airtime and services required to meet the BFT program's needs. We believe this action demonstrates the critical role that our BFT technology plays within the Department of Defense's logistics and war fighter communities." |
