Comtech Telecommunications Gets $12.0 Million Contract From Big Telecom Equipment Maker

Comtech Telecommunications Corp. CMTL revealed that its commercial solutions segment has signed a multi-year contract worth about $12.0 million with a big telecom equipment manufacturer. According to the company, the telecom equipment maker would support the continued roll out of its solutions to a number of wireless operators in the world under the terms of the contract. That included a large-scale North American-based wireless operator.

The company's President and CEO Stanton Sloane said, "Securing a contract in excess of $12.0 million with one of the world's leading equipment manufacturers is a major milestone for our organization as it underpins the continued need for our solutions in the wireless operator segment."

He added, "This contract will support the continued roll out of services and allow us to distribute our solutions to wireless operators worldwide."

On Tuesday, the stock traded higher by 4.5 percent.