Comtech Telecommunications Signs $8.4 M Development Contract

Comtech Telecommunications Corp. (NASDAQ:CMTL) announced today that during the fourth quarter of fiscal 2016, its commercial solutions segment has signed an additional multi-year contract valued at approximately $8.4 million with a major telecom equipment manufacturer. Under the terms of the development contract, the telecom equipment manufacturer, who is a global distributor of Comtech's services, will support the continued roll out of Comtech's advanced communication solutions to several wireless operators across the globe, including a large-scale North American-based wireless operator. Today’s announcement comes on the heels of Comtech’s announcement last month that the company had secured a similar contract valued at more than $12.0 million with this same major telecom equipment manufacturer.

“We are pleased that our customer has signed an additional multi-year contract and believe this demonstrates their confidence in our wireless service expertise,” said Dr. Stanton Sloane, President and Chief Executive Officer of Comtech Telecommunications Corp.

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Source: Comtech Telecommunications Corp.
Date: May 12, 2016