Comtech Secures Additional Orders For SATCOM Antenna Feeds
Zacks Investment Research | Jan 15, 2020 08:28PM ET
Comtech Telecommunications Corp. (NASDAQ:CMTL) said that its Mission-Critical Technologies group, which is part of its Government Solutions segment, got orders beyond $2.6 million for SATCOM antenna feeds from Cubic Mission Solutions (CMS). This development took place during Comtech’s second-quarter fiscal 2020.
Headquartered in Melville, NY, Comtech operates through two segments — Commercial Solutions and Government Solutions. CMS is one of the three business divisions of San Diego, CA-based Cubic Corporation (NYSE:CUB) . It offers networked command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) solutions for defense, intelligence, security and commercial missions.
Markedly, these orders continue the long-term success of Comtech’s products being used on Cubic’s portfolio of SATCOM terminals. Comtech’s Mission-Critical Technologies group is focused on ensuring that its customers are able to successfully carry out their mission. The company sells products to a diverse customer base in the global communications markets.
The company has been delivering market-leading products for messaging, location and deployable wireless communications. It continues to benefit from strong business momentum including backlog, arising from major exposure to growing end markets, characterized by evolving technology trends for communications. Additionally, the acquisition of Solacom Technologies and General Dynamics’ 911 business improved its ability to deliver cutting-edge products and services to public safety agencies worldwide.
In November 2019, Comtech announced that it inked a deal to acquire UHP Networks, a leading provider of satellite ground station solutions, for almost $40 million. Based in Canada, UHP has developed revolutionary technology that is transforming the Very Small Aperture Terminal (VSAT) market. The transaction, subject to customary closing conditions, is expected to complete late in the second half of Comtech’s fiscal 2020.
Backed by solid execution of operational plans, shares of Comtech have gained 28.3% compared with 3.5% growth recorded by the Zacks Investment Research
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