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Stock Market & Financial Investment News

News Breaks
April 14, 2014
10:02 EDTCMTLComtech awarded contracts to support Blue Force tracking program
Comtech announced that its subsidiary, Comtech Mobile Datacom Corporation, has been awarded a three-year contract to continue to provide sustainment support for the U.S. Army's Force XXI Battle Command Brigade and Below - Blue Force Tracking program. In addition, the U.S. Army agreed to continue to license certain of Comtech's intellectual property pursuant to a separate contract. Under the new three-year BFT-1 sustainment contract, which has a not-to-exceed value of $38.2M, Comtech will provide engineering services and satellite network operations on a cost-plus-fixed-fee basis and program management services on a firm-fixed-price basis. The base performance period begins April 1 and ends March 31, 2015, and the contract provides for two twelve-month option periods exercisable by the U.S. Army. The total estimated value of the base year is $13.6M. Comtech also entered into a new BFT-1 IP contract with a potential value of $30M which enables the U.S. Army to continue to license certain of Comtech’s IP. The contract requires a $10M annual license fee for a base period beginning April 1 and ending March 31, 2015 with two twelve-month option periods exercisable by the U.S. Army. If the U.S. Army exercises the two option periods and pays an aggregate of $30M of annual license fees, the U.S. Army will receive a limited non-exclusive right to use Comtech's IP after March 31, 2017 for no additional IP license fee.
News For CMTL From The Last 14 Days
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December 18, 2014
10:01 EDTCMTLComtech says unit awarded $1.1M contract
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December 10, 2014
16:22 EDTCMTLComtech backs FY15 EPS view of $1.70-$1.86, consensus $1.79
Narrows FY15 revenue guidance to $355M-$365M, consensus $359.67M.
16:20 EDTCMTLComtech reports Q1 EPS 34c, consensus 29c
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December 9, 2014
16:33 EDTCMTLComtech ends strategic review, decides to remain independent
Comtech Telecommunications announced that its board of directors has completed a review of strategic alternatives with the assistance of its financial advisor, Citibank, its legal counsel, Proskauer Rose, and its special counsel, Morris, Nichols, Arsht & Tunnell. After considering various strategic alternatives to enhance shareholder value, including a possible merger or sale of the company, the board has determined that the interests of the company and its shareholders will be best served by the company remaining independent. Comtech Chairman and CEO, Fred Kornberg, stated: “At the end of a thorough and rigorous process, our Board concluded that the company is best positioned to maximize shareholder value by continuing to execute on its strategies of enhancing its leadership positions in the markets we serve, participating in emerging technologies that enhance or expand our product portfolio, carefully pursuing acquisitions of businesses and technologies, and returning cash to our shareholders.”
December 8, 2014
13:00 EDTCMTLComtech receives $3.5M order for SATCOM equipment
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10:12 EDTCMTLComtech receives $7.4M in additional orders relating to satellite system project
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