Comtech Gets Additional U.S. Army Funding For SNAP Terminals
Zacks Investment Research | Sep 10, 2019 08:37AM ET
Comtech Telecommunications Corp. (NASDAQ:CMTL) recently announced that its Command & Control Technologies group (which is part of the company’s Government Solutions segment) got additional funding of $9.2 million on a previously announced three-year $124.2 million contract. This financial happening took place during Comtech’s fourth-quarter fiscal 2019.
Per the contract, which has been funded $74.9 million to date, the company is providing sustainment services for the AN/TSC-198A SNAP (Secret Internet Protocol Router and Non-classified Internet Protocol Router Access Point), and baseband equipment. Markedly, SNAP terminals offer rapid mobile satellite communications capabilities to personnel in the field.
Comtech’s Command & Control Technologies group is known to be a leading provider of mission-critical, highly-mobile C4ISR (Command, Control, Communications, Computer, Intelligence, Surveillance, and Reconnaissance) solutions. This additional funding underscores that U.S. Army continues to trust the company as a preferred service provider for its deployed soldiers.
Comtech sells products to a diverse customer base in the global commercial and government communications markets. Moreover, the acquisitions of Solacom and the GD NG-911 business significantly enhanced its ability to deliver innovative market-leading products and services to public safety agencies.
Backed by positive business momentum including strong backlog, Comtech’s shares have added 23.1% compared with the Zacks Investment Research
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