Comtech Telecommunications Gets Incremental Funding Of $5.8 Million To Supply Hardware To Army

Comtech Telecommunications Corp. CMTL revealed that its government solutions segment got an incremental funding of $5.8 million to further support its Secret Internet Protocol Router and Non-secure Internet Protocol Router Access Point (SNAP) Very Small Aperture Terminal (VSAT) hardware and sustainment services delivery order.

According to the company, it received $40.5 million of funded orders until now compared to the $91.0 million contract ceiling. The company added that the American Army Project Manager for the Warfighter Information Network - Tactical (PM WIN-T) Commercial Satellite Terminal Program was funding this procurement through the Army's GTACS contract vehicle.

Comtech's President and CEO, Santon Sloane, commented "We are pleased that the U.S. Army has chosen to continue to fund further investments for our SNAP and VSAT hardware. The U.S. Army depends on having advanced communication solutions and we are pleased that they have chosen our cost-effective, easily deployable and reliable communications systems for their missions."

On Wednesday, the stock traded 2.17 percent higher.