Globecomm Systems Inc. (NASDAQ: GCOM), a leading global provider of communications solutions and services, announced today that the Company has received a contract modification from a Multinational organization (“the customer”) valued at approximately $3.1 million.
Pursuant to this contract modification, Globecomm will provide the customer with one additional ground terminal, the provisioning of spare parts, tools and test equipment and additional test support.
The original contract included the design and development of the overall system, including:
- Production and integration of new ground terminals and upgrade kits for existing terminals.
- Management of the project.
- Testing and hand-over of the systems.
- Supply of tools and test equipment.
- Supply of documentation.
- Training of users and maintainers.
Globecomm previously announced approximately $32 million under this contract from the customer. This contract modification brings the combined contract value to $35.1 million.
Paul Knudsen, Vice President of Globecomm’s Eastern Atlantic Team, said, “This contract amendment results from long term dedication in developing a state of the art satellite communication system for the customer. This enables Globecomm to provide additional support for the original systems ordered, as they are deployed, and provides for the delivery of one additional terminal.”
About Globecomm Systems
Globecomm Systems Inc., or Globecomm, is a leading global provider of satellite-based managed network solutions. Employing our expertise in emerging communication technologies we are able to offer a comprehensive suite of system integration, system products, and network services enabling a complete end-to-end solution for our customers. We believe our integrated approach of in-house design and engineering expertise combined with a world-class global network and our 24 by 7 network operating centers provides us a unique competitive advantage. We are now taking this value proposition to selective vertical markets, including government, wireless, media, enterprise, and maritime. As a network solution provider we leverage our global network to provide customers managed access services to the United States Internet backbone, video content, the public switched telephone network or their corporate headquarters, or government offices. We currently have customers for which we are providing such services in the United States, Europe, South America, Africa, the Middle East, and Asia.
Based in Hauppauge, New York, Globecomm Systems also maintains offices in Maryland, New Jersey, Virginia, the Netherlands, South Africa, Hong Kong, Germany, Singapore, the United Arab Emirates and Afghanistan.
This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward looking statements are based on management's current expectations and observations. You should not place undue reliance on our forward-looking statements because the matters they describe are subject to certain risks, uncertainties and assumptions that are difficult to predict. Our forward-looking statements are based on the information currently available to us and speak only as of the date of this press release. Over time, our actual results, performance or achievements may differ from those expressed or implied by our forward-looking statements, and such difference might be significant and materially adverse to our security holders.
We have identified some of the important factors that could cause future events to differ from our current expectations and they are described in our most recent Annual Report on Form 10-K and most recent Quarterly Report of Form 10-Q, including without limitation under the captions ''Risk Factors'' and ''Management's Discussion and Analysis of Financial Condition and Results of Operations,'' and in other documents that we may file with the SEC, all of which you should review carefully. Please consider our forward-looking statements in light of those risks as you read this press release.
Matthew Byron, 631-457-1301
Senior Vice President, Corporate Office IR/M&A
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates Bots go here