Comtech receives $1.8M delivery order to support U.S. Air Force » 09:2706/2906/29/20
Comtech Telecommunications announced that during its fourth quarter of fiscal 2020, its Tempe, Arizona-based subsidiary, Comtech EF Data, which is part of Comtech's Commercial Solutions segment, received a delivery order in support of a recently awarded contract for engineering services from a large prime U.S. Department of Defense contractor. Comtech said in a release, "This latest delivery order is for $1.8 million to support a critical Air Force and Army Anti-jam Modem, or A3M, program under the U.S. Space Force's Space and Missile Systems Center. The $4.7 million contract has been funded $2.3 million to date. The A3M program will provide the Air Force and Army with a secure, wideband, anti-jam satellite communications terminal modem for tactical satellite communication operations. The jam-resistant modems will support SMC's Protected Tactical Waveform technology, an anti-jam capability operating on military satellite communication terminals through the Wideband Global Satcom constellation."
|Over a week ago|
Comtech receives $1.1M order for satellite ground station equipment » 09:1706/1006/10/20
Comtech announced it…
Comtech announced it received a $1.1M order for satellite ground station equipment from a South East Asia Ministry of Defense. This initial order of SCPC modems and complementary redundancy switches is part of a network upgrade which could expand to more than 2,000 units.
|Over a month ago|
Comtech price target lowered to $24 from $27 at Northland » 09:0406/0406/04/20
Northland analyst Michael…
Northland analyst Michael Latimore lowered the firm's price target on Comtech Telecommunicationsto $24 from $27 and keeps an Outperform rating on the shares following the company's fiscal Q3 results.
Fly Intel: After-Hours Movers » 18:3206/0306/03/20
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Comtech, UHP Networks amend terms of agreement » 16:0306/0306/03/20
In June 2020, Comtech and…
In June 2020, Comtech and UHP Networks, Inc. agreed to amend the terms of the agreement for Comtech's purchase of UHP, which was originally announced in November 2019. Under the amended purchase agreement, the total aggregate purchase price has been reduced by approximately 24% from $50M to $38M, of which $5M will be paid in cash, with the remainder in shares of Comtech common stock, cash, or a combination of both, as Comtech may elect at the time of closing. The transaction is subject to customary closing conditions, including necessary regulatory approval to allow Comtech to purchase UHP's sister company which is headquartered in Moscow.
Comtech reports Q3 adjusted EPS 5c, consensus (1c) » 16:0206/0306/03/20
Reports Q3 revenue…
Reports Q3 revenue $135.1M, consensus $148.83M. Comtech's third quarter of fiscal 2020, running from February 1 through April 30, 2020, corresponded precisely with the period in which worldwide restrictions on business activities were in force due to the COVID-19 pandemic. As a result, Comtech experienced significant order delays and lower net sales. During the quarter, in response to lower levels of business activity, Comtech implemented a variety of cost saving measures, including reducing global headcount by approximately 10%, reducing salaries, suspending merit increases and eliminating certain discretionary expenses. Severance costs relating to these actions were not material and cost reduction efforts continue. In commenting on Comtech's performance for the third quarter of fiscal 2020, Fred Kornberg, Chairman of the Board and Chief Executive Officer, noted, "No doubt, the third quarter was challenging for Comtech. But I have never been prouder of our employees for their dedication and commitment to our customers. I am exceedingly grateful for the trust our customers continue to place in Comtech's industry leading technology and expertise. Looking forward, I remain enthusiastic about our efforts on a number of large strategic orders and we are laser focused on positioning the company for a strong fiscal 2021."
Comtech receivees $2.8M order from overseas agency » 09:1506/0306/03/20
Comtech Telecommunications announced that during its third quarter of fiscal year 2020, its Mission-Critical Technologies group's Space & Component Technology, or SCT, division, which is part of Comtech's Government Solutions segment, received a $2.8 million order from an overseas agency for ground station maintenance and support.
Comtech receives initial contract award for production terminals from ADS, Inc. » 09:1206/0206/02/20
Comtech announced that it…
Comtech announced that it has introduced the Comtech COMET, the world's smallest over-the-horizon microwave troposcatter terminal. In connection with the introduction, Comtech received an initial contract award for production terminals from ADS, Inc. to be used by a U.S. Military end-customer.
Comtech awarded $12.6M contract in support of NASA Artemis project » 09:0806/0206/02/20
Comtech announced that it…
Comtech announced that it was awarded a contract valued at $12.6M from a U.S. prime contractor in support of NASA's Orion Production and Operations Contract, or OPOC, or commonly known as the Artemis project. The Artemis project is intended to help NASA carry the first woman and next man to the moon by 2024. The contract consolidates requirements for electrical, electronic and electromechanical, or EEE, parts and engineering services for multiple customer sites in support of three spacecraft missions: Artemis III, IV and V. The contract was initially funded at $6.3M and the final contract value is subject to final negotiation.
Comtech awarded contract upgrade worth over $1.3M » 09:0906/0106/01/20
Comtech Telecommunications announced that its Location Technologies group, a division of Comtech's Commercial Solutions segment, has finalized a contract upgrade worth over $1.3 million supporting 5G Location services and other enhancements with a major U.S.-based mobile network operator. "This mobile network operator continues to add state-of-the-art location technology to its service offerings, which enhance performance and public safety for their customers," said Fred Kornberg, Chairman of the Board and CEO of Comtech Telecommunications. "Comtech Location Technologies has been selected for its end-to-end solution, which greatly enhances the operations and ease of use for application developers and end users."