Globecomm Systems Awarded Multiple Contracts for a Foreign Government Agency Valued at $6.3 Million
HAUPPAUGE, N.Y.--([ BUSINESS WIRE ])--Globecomm Systems Inc. (NASDAQ: GCOM), a leading provider of satellite-based communications infrastructure solutions and services on a global basis, announced today that the Company has received multiple contracts for a Foreign Government agency valued at $6.3 million.
The contracts include Ka and Ku band earth stations and upgrades with related subsystems. Globecomm anticipates completing the work in the Company's fiscal 2010 second quarter ending December 31, 2009.
Dov Cydulkin, Vice President of Globecomm's Asia Pacific Team, said, "We are pleased with our continued success in Ka and Ku band systems with new and existing customers, in recognition of Globecomm's systems expertise and quality implementation."
David Hershberg, Chief Executive Officer and Chairman of Globecomm Systems Inc., said: "These are important contracts requiring the development of new tactical and strategic Ka band terminals. The US Government will be using more Ka band systems in the future with the new WGS system and these contracts further enhance our Ka band experience which should help in future procurements."
About Globecomm Systems
Globecomm Systems Inc. provides end-to-end value-added satellite-based communication products, services and solutions by leveraging its core satellite ground segment systems and network capabilities, with its satellite communication services capabilities. The products and services Globecomm offers include pre-engineered systems, systems design and integration services, managed network services and life cycle support services. Globecomm's customers include communications service providers, commercial enterprises, broadcast and other media and content providers and government and government-related entities.
Based in Hauppauge, New York, Globecomm Systems also maintains offices in Washington, DC, Maryland, Hong Kong, the United Kingdom, 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.